OMERS ADMINISTRATION Corp Invests $34.55 Million in Sixth Street Specialty Lending, Inc. $TSLX

Key Points

• OMERS Administration Corp. acquired 2.01 million shares of Sixth Street Specialty Lending in the second quarter, investing approximately $34.55 million for a 2.12% stake. Institutional investors collectively own 70.25% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $19.83.
• Sixth Street Specialty Lending exceeded quarterly expectations with $0.43 EPS and $97.84 million in revenue, and announced a $0.42-per-share quarterly dividend, equivalent to an annualized yield of approximately 8.9%.

OMERS ADMINISTRATION Corp purchased a new stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,012,327 shares of the financial services provider's stock, valued at approximately $34,552,000. OMERS ADMINISTRATION Corp owned approximately 2.12% of Sixth Street Specialty Lending at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TSLX. Burk Holdings LLC purchased a new stake in Sixth Street Specialty Lending in the second quarter valued at $51,000. Fifth Third Bancorp purchased a new stake in shares of Sixth Street Specialty Lending in the 1st quarter valued at approximately $63,000. Advisory Services Network LLC acquired a new position in shares of Sixth Street Specialty Lending in the 3rd quarter worth approximately $75,000. Frazier Financial Advisors LLC acquired a new position in shares of Sixth Street Specialty Lending in the 2nd quarter worth approximately $83,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in shares of Sixth Street Specialty Lending during the 2nd quarter worth approximately $96,000. Hedge funds and other institutional investors own 70.25% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on TSLX. Wall Street Zen upgraded shares of Sixth Street Specialty Lending from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Zacks Research upgraded Sixth Street Specialty Lending from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 7th. Wells Fargo & Company dropped their price objective on Sixth Street Specialty Lending from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Thursday, May 7th. Keefe, Bruyette & Woods boosted their price objective on Sixth Street Specialty Lending from $18.50 to $19.50 and gave the company an "outperform" rating in a report on Monday, August 10th. Finally, Truist Financial decreased their target price on Sixth Street Specialty Lending from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $19.83.

Sixth Street Specialty Lending Trading Up 0.1%

Shares of TSLX stock opened at $18.80 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 9.83 and a current ratio of 9.83. The stock has a market capitalization of $1.79 billion, a P/E ratio of 19.79 and a beta of 0.59. The company has a 50 day moving average price of $17.48 and a 200 day moving average price of $18.01. Sixth Street Specialty Lending, Inc. has a fifty-two week low of $16.04 and a fifty-two week high of $24.79.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its earnings results on Tuesday, August 4th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.01. Sixth Street Specialty Lending had a net margin of 21.79% and a return on equity of 11.33%. The company had revenue of $97.84 million for the quarter, compared to analyst estimates of $95.28 million. During the same period in the prior year, the business earned $0.56 EPS. Equities research analysts predict that Sixth Street Specialty Lending, Inc. will post 1.74 EPS for the current fiscal year.

Sixth Street Specialty Lending Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 8.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Sixth Street Specialty Lending's payout ratio is presently 176.84%.

Sixth Street Specialty Lending Profile

Sixth Street Specialty Lending Inc NYSE: TSLX is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.

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