Cetera Investment Advisers Raises Holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Key Points

• Cetera Investment Advisers increased its stake in Sixth Street Specialty Lending (NYSE: TSLX) by 8.1%, owning approximately 448,898 shares valued at $10 million as of the latest SEC filing.
• Sixth Street Specialty Lending's stock recently reported a 1.0% decline and has a twelve-month price range of $18.58 to $25.17.
• The company declared a recent dividend of $0.06, yielding 9.21%, with a payout ratio currently at 97.35%.

Cetera Investment Advisers raised its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 8.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 448,898 shares of the financial services provider's stock after acquiring an additional 33,818 shares during the quarter. Cetera Investment Advisers owned approximately 0.48% of Sixth Street Specialty Lending worth $10,046,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ameriflex Group Inc. purchased a new position in shares of Sixth Street Specialty Lending during the 4th quarter valued at about $27,000. AdvisorNet Financial Inc purchased a new position in shares of Sixth Street Specialty Lending during the 1st quarter valued at about $40,000. Rossby Financial LCC purchased a new position in shares of Sixth Street Specialty Lending during the 1st quarter valued at about $62,000. Redmont Wealth Advisors LLC purchased a new position in shares of Sixth Street Specialty Lending during the 1st quarter valued at about $97,000. Finally, Atlas Capital Advisors Inc. purchased a new position in shares of Sixth Street Specialty Lending during the 4th quarter valued at about $109,000. Institutional investors own 70.25% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TSLX shares. JPMorgan Chase & Co. cut their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company lifted their price target on Sixth Street Specialty Lending from $21.00 to $24.00 and gave the company an "overweight" rating in a research note on Friday. B. Riley started coverage on Sixth Street Specialty Lending in a research note on Tuesday, May 13th. They issued a "buy" rating and a $23.00 price target for the company. Finally, Raymond James Financial 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. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $23.06.

Sixth Street Specialty Lending Price Performance

Shares of TSLX stock traded down $0.37 during trading hours on Friday, reaching $23.91. The company had a trading volume of 583,375 shares, compared to its average volume of 420,207. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.06 and a current ratio of 3.79. The stock has a fifty day moving average of $23.72 and a 200-day moving average of $22.49. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 11.90 and a beta of 0.84. Sixth Street Specialty Lending, Inc. has a 12-month low of $18.58 and a 12-month high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.56 EPS for the quarter, beating 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 firm had revenue of $115.00 million for the quarter, compared to analysts' expectations of $110.42 million. During the same period in the prior year, the firm posted $0.58 earnings per share. On average, equities analysts anticipate 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 declared a -- dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.46 per share. This represents a yield of 770.0%. This is a positive change from Sixth Street Specialty Lending's previous -- dividend of $0.06. The ex-dividend date is Monday, September 15th. Sixth Street Specialty Lending's payout ratio is currently 97.35%.

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.