Sixth Street Specialty Lending, Inc. $TSLX Shares Acquired by Burgundy Asset Management Ltd.

Key Points

• Burgundy Asset Management Ltd. increased its stake in Sixth Street Specialty Lending, Inc. by 7.0%, owning approximately 2.5% of the company valued at $52.5 million after purchasing an additional 154,560 shares during Q1.
• Multiple institutional investors, including Ethos Financial Group and Raymond James Financial, have recently made moves in the stock, contributing to 70.25% of its total ownership.
• Sixth Street Specialty Lending is set to pay a dividend of $0.46 per share, a significant increase from the previous $0.06, yielding 770.0% with a payout ratio of 91.54%.

Burgundy Asset Management Ltd. increased its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,347,046 shares of the financial services provider's stock after acquiring an additional 154,560 shares during the period. Burgundy Asset Management Ltd. owned about 2.50% of Sixth Street Specialty Lending worth $52,527,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new stake in Sixth Street Specialty Lending during the fourth quarter worth about $27,000. AdvisorNet Financial Inc acquired a new stake in Sixth Street Specialty Lending during the first quarter worth about $40,000. Rossby Financial LCC acquired a new stake in Sixth Street Specialty Lending during the first quarter worth about $62,000. Redmont Wealth Advisors LLC acquired a new stake in Sixth Street Specialty Lending during the first quarter worth about $97,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Sixth Street Specialty Lending during the first quarter worth about $117,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Sixth Street Specialty Lending Trading Up 0.0%

NYSE TSLX traded up $0.01 on Friday, reaching $24.36. 153,901 shares of the company were exchanged, compared to its average volume of 469,303. The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 1.07. The business's fifty day moving average price is $23.95 and its 200 day moving average price is $22.69. The stock has a market capitalization of $2.30 billion, a P/E ratio of 12.12 and a beta of 0.84. Sixth Street Specialty Lending, Inc. has a fifty-two week low of $18.58 and a fifty-two week high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.03. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 39.56%.The business had revenue of $115.00 million during the quarter, compared to the consensus estimate of $110.42 million. During the same period last year, the company earned $0.58 EPS. Analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current year.

Sixth Street Specialty Lending Increases Dividend

The company also recently disclosed a -- dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.46 dividend. The ex-dividend date is Monday, September 15th. This represents a dividend yield of 770.0%. This is a boost from Sixth Street Specialty Lending's previous -- dividend of $0.06. Sixth Street Specialty Lending's dividend payout ratio (DPR) is presently 91.54%.

Analyst Ratings Changes

Several analysts recently commented on the company. Raymond James Financial dropped their target price on Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. B. Riley assumed coverage on Sixth Street Specialty Lending in a report on Tuesday, May 13th. They issued a "buy" rating and a $23.00 price objective on the stock. Wells Fargo & Company raised their price objective on Sixth Street Specialty Lending from $21.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, August 1st. JMP Securities raised their price objective on Sixth Street Specialty Lending from $24.00 to $25.00 and gave the company a "market outperform" rating in a report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. dropped their price objective on Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating on the stock in a report on Thursday, April 24th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $23.28.

Sixth Street Specialty Lending 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.