Sumitomo Mitsui Trust Group Inc. Buys 57,962 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Sumitomo Mitsui Trust Group Inc. grew its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 15.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 435,607 shares of the financial services provider's stock after acquiring an additional 57,962 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.46% of Sixth Street Specialty Lending worth $9,749,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of TSLX. Ameriflex Group Inc. bought a new position in shares of Sixth Street Specialty Lending during the 4th quarter worth about $27,000. AdvisorNet Financial Inc bought a new position in Sixth Street Specialty Lending during the first quarter worth about $40,000. Signaturefd LLC lifted its stake in Sixth Street Specialty Lending by 13.3% during the fourth quarter. Signaturefd LLC now owns 4,673 shares of the financial services provider's stock worth $100,000 after purchasing an additional 550 shares during the period. Atlas Capital Advisors Inc. bought a new position in Sixth Street Specialty Lending during the fourth quarter worth about $109,000. Finally, Silver Oak Securities Incorporated bought a new position in Sixth Street Specialty Lending during the first quarter worth about $182,000. 70.25% of the stock is owned by institutional investors.

Sixth Street Specialty Lending Price Performance

Shares of NYSE TSLX traded down $0.43 during trading on Monday, reaching $23.94. The company had a trading volume of 559,351 shares, compared to its average volume of 394,131. 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 business's 50 day moving average price is $22.68 and its 200-day moving average price is $22.06. Sixth Street Specialty Lending, Inc. has a 52 week low of $18.58 and a 52 week high of $24.42. The stock has a market cap of $2.25 billion, a PE ratio of 12.67 and a beta of 0.83.

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

Sixth Street Specialty Lending Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 9.21%. Sixth Street Specialty Lending's dividend payout ratio is currently 97.35%.

Analysts Set New Price Targets

TSLX has been the subject of several analyst reports. Wells Fargo & Company cut their target price on Sixth Street Specialty Lending from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. 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 report on Thursday, April 24th. B. Riley began coverage on shares of Sixth Street Specialty Lending in a report on Tuesday, May 13th. They set a "buy" rating and a $23.00 price target for the company. Finally, Raymond James Financial cut their price target 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 equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $22.81.

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.