Texas Capital Bank Wealth Management Services Inc Invests $3.02 Million in Sixth Street Specialty Lending, Inc. $TSLX

Key Points

• Texas Capital Bank Wealth Management Services bought a new 175,700-share stake in Sixth Street Specialty Lending valued at approximately $3.02 million. Institutional investors collectively own 70.25% of TSLX.
• Analyst sentiment remains favorable, with five Buy and three Hold ratings producing a “Moderate Buy” consensus and an average price target of $19.83.
• TSLX exceeded quarterly earnings expectations with $0.43 EPS and $97.84 million in revenue, while declaring a $0.42 quarterly dividend, equivalent to a 9.1% annualized yield.

Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 175,700 shares of the financial services provider's stock, valued at approximately $3,017,000. Texas Capital Bank Wealth Management Services Inc owned approximately 0.18% of Sixth Street Specialty Lending at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Quantum Portfolio Management LLC acquired a new stake in Sixth Street Specialty Lending during the first quarter valued at $273,434,000. Strs Ohio increased its holdings in Sixth Street Specialty Lending by 101.8% in the first quarter. Strs Ohio now owns 4,347,710 shares of the financial services provider's stock valued at $79,911,000 after buying an additional 2,193,551 shares in the last quarter. Sound Income Strategies LLC raised its position in shares of Sixth Street Specialty Lending by 2.4% in the first quarter. Sound Income Strategies LLC now owns 2,571,052 shares of the financial services provider's stock worth $46,562,000 after acquiring an additional 59,937 shares during the period. Progeny 3 Inc. raised its position in shares of Sixth Street Specialty Lending by 1.0% in the second quarter. Progeny 3 Inc. now owns 2,476,398 shares of the financial services provider's stock worth $58,963,000 after acquiring an additional 23,451 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of Sixth Street Specialty Lending by 419.5% during 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 acquiring an additional 1,845,088 shares in the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods raised their target price on Sixth Street Specialty Lending from $18.50 to $19.50 and gave the company an "outperform" rating in a research report on Monday, August 10th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Sixth Street Specialty Lending in a report on Thursday. Wall Street Zen upgraded Sixth Street Specialty Lending from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Truist Financial lowered their price target on Sixth Street Specialty Lending from $22.00 to $20.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada dropped their price objective on Sixth Street Specialty Lending from $22.00 to $20.00 and set an "outperform" rating on the stock in a report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $19.83.

Sixth Street Specialty Lending Stock Performance

TSLX opened at $18.46 on Tuesday. The firm's fifty day simple moving average is $17.35 and its two-hundred day simple moving average is $18.09. Sixth Street Specialty Lending, Inc. has a 52-week low of $16.04 and a 52-week high of $24.79. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 19.43 and a beta of 0.59. The company has a quick ratio of 9.83, a current ratio of 9.83 and a debt-to-equity ratio of 1.24.

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 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.01. The business had revenue of $97.84 million during the quarter, compared to analysts' expectations of $95.28 million. Sixth Street Specialty Lending had a net margin of 21.79% and a return on equity of 11.33%. During the same quarter in the previous year, the company earned $0.56 earnings per share. Equities analysts anticipate that Sixth Street Specialty Lending, Inc. will post 1.73 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 9.1%. The ex-dividend date is Tuesday, September 15th. Sixth Street Specialty Lending's payout ratio is 176.84%.

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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