Bank of America Corp DE Reduces Position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Bank of America Corp DE decreased its holdings in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 17.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 639,717 shares of the financial services provider's stock after selling 137,292 shares during the period. Bank of America Corp DE owned about 0.69% of Sixth Street Specialty Lending worth $13,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of TSLX. Benjamin Edwards Inc. lifted its position in Sixth Street Specialty Lending by 2.9% during the fourth quarter. Benjamin Edwards Inc. now owns 199,266 shares of the financial services provider's stock valued at $4,244,000 after purchasing an additional 5,589 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Sixth Street Specialty Lending in the fourth quarter worth about $1,035,000. Ameriprise Financial Inc. lifted its position in shares of Sixth Street Specialty Lending by 6.4% during the 4th quarter. Ameriprise Financial Inc. now owns 193,312 shares of the financial services provider's stock valued at $4,118,000 after buying an additional 11,574 shares in the last quarter. Lido Advisors LLC lifted its position in shares of Sixth Street Specialty Lending by 2.6% during the 4th quarter. Lido Advisors LLC now owns 60,775 shares of the financial services provider's stock valued at $1,295,000 after buying an additional 1,526 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Sixth Street Specialty Lending by 17.4% during the 4th quarter. Northern Trust Corp now owns 57,650 shares of the financial services provider's stock valued at $1,228,000 after acquiring an additional 8,526 shares during the period. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Sixth Street Specialty Lending Stock Performance

Shares of NYSE TSLX opened at $22.57 on Thursday. The company has a market cap of $2.12 billion, a P/E ratio of 11.12 and a beta of 0.82. Sixth Street Specialty Lending, Inc. has a 52-week low of $18.58 and a 52-week high of $23.67. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.90 and a current ratio of 1.90. The firm's fifty day moving average is $21.28 and its two-hundred day moving average is $21.50.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.02. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. The firm had revenue of $113.92 billion during the quarter, compared to analyst estimates of $116.70 million. During the same quarter last year, the business posted $0.52 earnings per share. As a group, analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Announces Dividend

The company also recently declared a -- dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.06 per share. This represents a yield of 8.9%. The ex-dividend date of this dividend is Monday, June 16th. Sixth Street Specialty Lending's dividend payout ratio is presently 97.35%.

Analyst Upgrades and Downgrades

A number of research firms have commented on TSLX. Royal Bank of Canada raised their target price on shares of Sixth Street Specialty Lending from $23.00 to $25.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. decreased their price objective on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Truist Financial lifted their target price on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Raymond James cut their price target on Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, B. Riley began coverage on Sixth Street Specialty Lending in a research report on Tuesday, May 13th. They issued a "buy" rating and a $23.00 price objective on the stock. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $22.81.

Sixth Street Specialty Lending Company Profile

Sixth Street Specialty Lending, Inc NYSE: TSLX is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.

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