Truvestments Capital LLC Purchases 68,283 Shares of Sixth Street Specialty Lending, Inc. $TSLX

Key Points

• Truvestments Capital LLC increased its stake in Sixth Street Specialty Lending (TSLX) by 53.7%, acquiring an additional 68,283 shares, bringing its total to 195,348 shares.
• Sixth Street Specialty Lending reported an EPS of $0.56 for the latest quarter, exceeding the consensus estimate of $0.53, along with a revenue of $115 million.
• The company announced a dividend of $0.05 per share with a yield of 864.0%, but has a high dividend payout ratio of 91.54%.

Truvestments Capital LLC lifted its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 53.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 195,348 shares of the financial services provider's stock after acquiring an additional 68,283 shares during the period. Sixth Street Specialty Lending accounts for about 0.9% of Truvestments Capital LLC's investment portfolio, making the stock its 28th largest holding. Truvestments Capital LLC owned about 0.21% of Sixth Street Specialty Lending worth $4,372,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TSLX. Gilman Hill Asset Management LLC raised its position in shares of Sixth Street Specialty Lending by 382.4% in the 1st quarter. Gilman Hill Asset Management LLC now owns 446,976 shares of the financial services provider's stock worth $10,003,000 after acquiring an additional 354,320 shares in the last quarter. Allen Investment Management LLC raised its position in shares of Sixth Street Specialty Lending by 24.4% in the 1st quarter. Allen Investment Management LLC now owns 1,434,920 shares of the financial services provider's stock worth $32,114,000 after acquiring an additional 281,339 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Sixth Street Specialty Lending during the 4th quarter valued at approximately $4,156,000. Round Rock Advisors LLC increased its position in Sixth Street Specialty Lending by 226.7% during the 1st quarter. Round Rock Advisors LLC now owns 274,483 shares of the financial services provider's stock valued at $6,143,000 after buying an additional 190,469 shares in the last quarter. Finally, Parkwood LLC bought a new position in Sixth Street Specialty Lending during the 4th quarter valued at approximately $3,937,000. Institutional investors own 70.25% of the company's stock.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX opened at $24.15 on Wednesday. The business's fifty day simple moving average is $24.02 and its two-hundred day simple moving average is $22.73. The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 1.07. Sixth Street Specialty Lending, Inc. has a 12 month low of $18.58 and a 12 month high of $25.17. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 12.02 and a beta of 0.84.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $0.56 EPS for the quarter, beating the consensus estimate 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 business had revenue of $115.00 million for the quarter, compared to the consensus estimate of $110.42 million. During the same period last year, the business posted $0.58 EPS. Research analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, September 19th. Shareholders of record on Monday, September 1st will be paid a dividend of $0.05 per share. This represents a yield of 864.0%. The ex-dividend date is Friday, August 29th. Sixth Street Specialty Lending's dividend payout ratio (DPR) is currently 91.54%.

Analyst Upgrades and Downgrades

TSLX has been the subject of a number of analyst reports. Raymond James Financial reduced their price objective 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. B. Riley initiated coverage on Sixth Street Specialty Lending in a research report on Tuesday, May 13th. They set a "buy" rating and a $23.00 price objective for the company. JMP Securities raised their price objective on Sixth Street Specialty Lending from $24.00 to $25.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company raised their price objective on Sixth Street Specialty Lending from $21.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $23.28.

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.

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