Pasadena Private Wealth LLC Purchases New Position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Key Points

• Pasadena Private Wealth LLC has acquired a new stake in Sixth Street Specialty Lending, purchasing 11,169 shares valued at approximately $250,000.
• Analysts have set the target price for TSLX shares between $21.50 and $23.00, with the consensus rating currently being a "Buy".
• Sixth Street Specialty Lending recently announced a dividend of $0.06 per share, resulting in a yield of 921.0%, although the company has a high dividend payout ratio of 97.35%.

Pasadena Private Wealth LLC purchased a new stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 11,169 shares of the financial services provider's stock, valued at approximately $250,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLX. Ameriflex Group Inc. acquired a new stake in shares of Sixth Street Specialty Lending during the fourth quarter valued at about $27,000. AdvisorNet Financial Inc bought a new position in Sixth Street Specialty Lending in the 1st quarter valued at approximately $40,000. Rossby Financial LCC acquired a new stake in Sixth Street Specialty Lending during the 1st quarter worth approximately $62,000. Redmont Wealth Advisors LLC bought a new stake in Sixth Street Specialty Lending during the 1st quarter worth approximately $97,000. Finally, Atlas Capital Advisors Inc. bought a new stake in Sixth Street Specialty Lending during the 4th quarter worth approximately $109,000. 70.25% of the stock is owned by institutional investors.

Sixth Street Specialty Lending Trading Down 1.5%

TSLX traded down $0.37 during trading on Friday, reaching $23.91. 583,375 shares of the stock traded hands, compared to its average volume of 420,207. The company has a quick ratio of 3.06, a current ratio of 3.79 and a debt-to-equity ratio of 1.07. The stock's 50-day moving average is $23.69 and its 200 day moving average is $22.46. Sixth Street Specialty Lending, Inc. has a 12 month low of $18.58 and a 12 month high of $25.17. The stock has a market capitalization of $2.25 billion, a PE ratio of 11.90 and a beta of 0.84.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.56 earnings per share (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 company had revenue of $115.00 million for the quarter, compared to the consensus estimate of $110.42 million. During the same period in the previous year, the business earned $0.58 EPS. 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 business also recently announced a -- dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.46 per share. This is a boost from Sixth Street Specialty Lending's previous -- dividend of $0.06. This represents a yield of 770.0%. The ex-dividend date of this dividend is Monday, September 15th. Sixth Street Specialty Lending's payout ratio is currently 97.35%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of 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. Raymond James Financial lowered their target price on Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company raised their target price on Sixth Street Specialty Lending from $21.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, B. Riley started coverage on Sixth Street Specialty Lending in a research report on Tuesday, May 13th. They issued a "buy" rating and a $23.00 price target on the stock. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $23.06.

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.