Sixth Street Specialty Lending, Inc. $TSLX Holdings Lifted by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp significantly increased its stake in Sixth Street Specialty Lending, boosting holdings by 157.2% in the fourth quarter to 469,109 shares worth about $10.2 million.
• The company announced a quarterly dividend of $0.42 per share, a sharp increase from the prior $0.01 dividend, implying an annualized yield of about 10.3%.
• TSLX shares were trading down about 3% near $16.39, after the company reported quarterly EPS of $0.42, missing analyst expectations of $0.49, and revenue also came in below estimates.

OMERS ADMINISTRATION Corp grew its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 157.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 469,109 shares of the financial services provider's stock after purchasing an additional 286,724 shares during the period. OMERS ADMINISTRATION Corp owned approximately 0.50% of Sixth Street Specialty Lending worth $10,189,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSLX. Bank of Montreal Can grew its position in Sixth Street Specialty Lending by 419.5% in the 4th quarter. Bank of Montreal Can now owns 2,284,920 shares of the financial services provider's stock worth $49,628,000 after purchasing an additional 1,845,088 shares during the last quarter. Van ECK Associates Corp grew its position in Sixth Street Specialty Lending by 18.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider's stock worth $57,817,000 after purchasing an additional 385,398 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Sixth Street Specialty Lending by 105.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 624,196 shares of the financial services provider's stock valued at $13,558,000 after acquiring an additional 319,665 shares in the last quarter. UBS Group AG boosted its holdings in shares of Sixth Street Specialty Lending by 22.8% in the fourth quarter. UBS Group AG now owns 1,616,161 shares of the financial services provider's stock valued at $35,103,000 after acquiring an additional 299,564 shares in the last quarter. Finally, Muzinich & Co. Inc. boosted its holdings in shares of Sixth Street Specialty Lending by 32.9% in the fourth quarter. Muzinich & Co. Inc. now owns 992,898 shares of the financial services provider's stock valued at $21,566,000 after acquiring an additional 245,940 shares in the last quarter. Institutional investors own 70.25% of the company's stock.

Insider Buying and Selling

In other Sixth Street Specialty Lending news, VP Ross Anthony Bruck bought 8,000 shares of the business's stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $17.76 per share, with a total value of $142,080.00. Following the completion of the purchase, the vice president directly owned 18,250 shares in the company, valued at approximately $324,120. This trade represents a 78.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 3.83% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TSLX has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Sixth Street Specialty Lending from $18.50 to $17.50 and set a "neutral" rating for the company in a report on Thursday, May 7th. Citizens Jmp decreased their price objective on shares of Sixth Street Specialty Lending from $25.00 to $24.00 and set a "market outperform" rating for the company in a report on Wednesday, April 22nd. Weiss Ratings cut shares of Sixth Street Specialty Lending from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 18th. Wall Street Zen cut shares of Sixth Street Specialty Lending from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Finally, Truist Financial decreased their price objective on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set a "buy" rating for the company in a report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $19.83.

Sixth Street Specialty Lending Trading Down 3.0%

Sixth Street Specialty Lending stock opened at $16.39 on Tuesday. Sixth Street Specialty Lending, Inc. has a 12-month low of $16.37 and a 12-month high of $25.17. The stock has a market capitalization of $1.56 billion, a PE ratio of 14.25 and a beta of 0.60. The firm has a 50 day simple moving average of $17.99 and a 200-day simple moving average of $19.54. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.39 and a quick ratio of 3.39.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its earnings results on Tuesday, May 5th. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.07). Sixth Street Specialty Lending had a net margin of 25.25% and a return on equity of 11.92%. The business had revenue of $93.40 million for the quarter, compared to analyst estimates of $103.14 million. During the same period in the prior year, the company earned $0.58 earnings per share. As a group, equities research analysts expect that Sixth Street Specialty Lending, Inc. will post 1.71 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.42 per share. This is a boost from Sixth Street Specialty Lending's previous quarterly dividend of $0.01. This represents a $1.68 annualized dividend and a yield of 10.3%. The ex-dividend date of this dividend is Monday, June 15th. Sixth Street Specialty Lending's dividend payout ratio (DPR) is currently 160.00%.

Sixth Street Specialty Lending Company 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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