Sumitomo Mitsui Trust Group Inc. Boosts Holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 15.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 435,607 shares of the financial services provider's stock after buying an additional 57,962 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.46% of Sixth Street Specialty Lending worth $9,749,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its stake in shares of Sixth Street Specialty Lending by 7.6% during the fourth quarter. Bank of New York Mellon Corp now owns 12,811 shares of the financial services provider's stock worth $273,000 after acquiring an additional 909 shares during the period. Raymond James Financial Inc. acquired a new position in Sixth Street Specialty Lending during the 4th quarter worth approximately $17,488,000. Marble Harbor Investment Counsel LLC increased its position in Sixth Street Specialty Lending by 7.2% during the 4th quarter. Marble Harbor Investment Counsel LLC now owns 21,645 shares of the financial services provider's stock worth $461,000 after purchasing an additional 1,445 shares during the period. Dearborn Partners LLC lifted its holdings in shares of Sixth Street Specialty Lending by 1.3% in the 4th quarter. Dearborn Partners LLC now owns 58,768 shares of the financial services provider's stock valued at $1,252,000 after buying an additional 763 shares during the period. Finally, Truvestments Capital LLC boosted its stake in shares of Sixth Street Specialty Lending by 7.9% in the fourth quarter. Truvestments Capital LLC now owns 127,065 shares of the financial services provider's stock valued at $2,706,000 after buying an additional 9,274 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company's stock.

Sixth Street Specialty Lending Price Performance

NYSE TSLX traded up $0.41 during trading hours on Friday, reaching $24.38. The company's stock had a trading volume of 326,925 shares, compared to its average volume of 392,695. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.06 and a current ratio of 3.06. The company's 50-day moving average is $22.61 and its two-hundred day moving average is $22.02. Sixth Street Specialty Lending, Inc. has a fifty-two week low of $18.58 and a fifty-two week high of $24.42. The stock has a market cap of $2.29 billion, a PE ratio of 12.90 and a beta of 0.83.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.56 by $0.02. Sixth Street Specialty Lending had a net margin of 36.59% and a return on equity of 13.60%. The business had revenue of $113.92 billion for the quarter, compared to analyst estimates of $116.70 million. During the same period in the prior year, the business earned $0.52 earnings per share. Analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, June 2nd were issued a $0.06 dividend. The ex-dividend date was Friday, May 30th. This represents a dividend yield of 9.21%. Sixth Street Specialty Lending's dividend payout ratio (DPR) is 97.35%.

Wall Street Analyst Weigh In

Several research firms have issued reports on TSLX. JPMorgan Chase & Co. cut their price objective on Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating for the company in a research report on Thursday, April 24th. B. Riley assumed coverage on shares of Sixth Street Specialty Lending in a research note on Tuesday, May 13th. They issued a "buy" rating and a $23.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Finally, Raymond James Financial dropped their target price on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $22.81.

Sixth Street Specialty Lending Company 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.