Lansforsakringar Fondforvaltning AB publ Buys New Position in Sixth Street Specialty Lending, Inc. $TSLX

Key Points

• Lansforsakringar Fondforvaltning AB has acquired a new position in Sixth Street Specialty Lending, purchasing 16,161 shares valued at approximately $362,000.
• Sixth Street Specialty Lending recently announced a $0.05 quarterly dividend, with a payout ratio of 91.54% and a yield of 0.8% based on an annualized basis.
• The company's stock (NYSE: TSLX) is currently rated as a "Buy" on average by analysts, with a consensus target price of $23.28.

Lansforsakringar Fondforvaltning AB publ purchased a new stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,161 shares of the financial services provider's stock, valued at approximately $362,000.

A number of other large investors also recently bought and sold shares of the stock. Truvestments Capital LLC lifted its holdings in Sixth Street Specialty Lending by 53.7% in the first quarter. Truvestments Capital LLC now owns 195,348 shares of the financial services provider's stock valued at $4,372,000 after acquiring an additional 68,283 shares during the period. SVB Wealth LLC acquired a new position in Sixth Street Specialty Lending in the first quarter valued at approximately $107,000. Texas Capital Bank Wealth Management Services Inc lifted its holdings in Sixth Street Specialty Lending by 8.6% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 139,805 shares of the financial services provider's stock valued at $3,129,000 after acquiring an additional 11,111 shares during the period. Burgundy Asset Management Ltd. lifted its holdings in Sixth Street Specialty Lending by 7.0% in the first quarter. Burgundy Asset Management Ltd. now owns 2,347,046 shares of the financial services provider's stock valued at $52,527,000 after acquiring an additional 154,560 shares during the period. Finally, Ethos Financial Group LLC acquired a new position in shares of Sixth Street Specialty Lending during the 1st quarter worth approximately $904,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. B. Riley assumed coverage on Sixth Street Specialty Lending in a research note on Tuesday, May 13th. They set a "buy" rating and a $23.00 target price for the company. Wells Fargo & Company upped their target price on Sixth Street Specialty Lending from $21.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, JMP Securities upped their target price on Sixth Street Specialty Lending from $24.00 to $25.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 6th. One 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 company. According to data from MarketBeat.com, Sixth Street Specialty Lending has a consensus rating of "Buy" and a consensus target price of $23.28.

Sixth Street Specialty Lending Price Performance

NYSE TSLX traded down $0.18 during mid-day trading on Friday, hitting $24.60. The stock had a trading volume of 291,648 shares, compared to its average volume of 337,807. The firm's 50 day moving average is $24.23 and its 200 day moving average is $22.83. Sixth Street Specialty Lending, Inc. has a twelve month low of $18.58 and a twelve month high of $25.17. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.79 and a quick ratio of 3.79. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 12.24 and a beta of 0.85.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.56 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $110.42 million. During the same period in the prior year, the company earned $0.58 EPS. Equities research analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, September 15th. Sixth Street Specialty Lending's dividend payout ratio is presently 91.54%.

About Sixth Street Specialty Lending

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.