Naviter Wealth LLC Raises Stake in Sixth Street Specialty Lending, Inc. $TSLX

Key Points

• Naviter Wealth LLC increased its stake in Sixth Street Specialty Lending, Inc. (TSLX) by 19.0%, owning 137,708 shares valued at approximately $3,279,000.
• Sixth Street Specialty Lending reported earnings per share of $0.56 for the last quarter, beating expectations, and had revenue of $115 million, surpassing analyst predictions.
• The company recently announced a quarterly dividend of $0.05, resulting in a dividend yield of 0.9%, with a payout ratio of 91.54%.

Naviter Wealth LLC increased its stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 19.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 137,708 shares of the financial services provider's stock after buying an additional 22,001 shares during the quarter. Naviter Wealth LLC owned 0.15% of Sixth Street Specialty Lending worth $3,279,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TSLX. Columbus Macro LLC raised its stake in Sixth Street Specialty Lending by 8.1% in the 1st quarter. Columbus Macro LLC now owns 389,272 shares of the financial services provider's stock valued at $8,712,000 after acquiring an additional 29,219 shares during the period. Janney Montgomery Scott LLC raised its stake in Sixth Street Specialty Lending by 108.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 276,845 shares of the financial services provider's stock valued at $6,196,000 after acquiring an additional 144,096 shares during the period. Cornerstone Wealth Management LLC raised its stake in Sixth Street Specialty Lending by 1.2% in the 1st quarter. Cornerstone Wealth Management LLC now owns 46,732 shares of the financial services provider's stock valued at $1,046,000 after acquiring an additional 548 shares during the period. Silver Oak Securities Incorporated bought a new stake in Sixth Street Specialty Lending in the 1st quarter valued at about $182,000. Finally, Canton Hathaway LLC raised its stake in Sixth Street Specialty Lending by 212.2% in the 1st quarter. Canton Hathaway LLC now owns 48,230 shares of the financial services provider's stock valued at $1,079,000 after acquiring an additional 32,780 shares during the period. 70.25% of the stock is currently owned by institutional investors.

Sixth Street Specialty Lending Trading Up 4.1%

Shares of TSLX opened at $21.71 on Tuesday. The business's 50-day moving average price is $23.56 and its 200-day moving average price is $22.89. Sixth Street Specialty Lending, Inc. has a twelve month low of $18.58 and a twelve month high of $25.17. The stock has a market cap of $2.05 billion, a PE ratio of 10.80 and a beta of 0.85. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 1.07.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.56 earnings per share 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 for the quarter, compared to analysts' expectations of $110.42 million. During the same period in the prior year, the business posted $0.58 earnings per share. On average, equities analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, September 15th. Sixth Street Specialty Lending's dividend payout ratio is 91.54%.

Analyst Ratings Changes

A number of brokerages recently issued reports on TSLX. Weiss Ratings restated a "buy (b)" rating on shares of Sixth Street Specialty Lending in a research note on Wednesday, October 8th. JMP Securities boosted their price objective on Sixth Street Specialty Lending from $24.00 to $25.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $24.00 price objective on shares of Sixth Street Specialty Lending in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company upped their price target on Sixth Street Specialty Lending from $21.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Sixth Street Specialty Lending has an average rating of "Moderate Buy" and a consensus target price of $23.56.

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.

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