Truvestments Capital LLC Acquires 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 holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 53.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,348 shares of the financial services provider's stock after acquiring an additional 68,283 shares during the quarter. Sixth Street Specialty Lending makes up approximately 0.9% of Truvestments Capital LLC's holdings, 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 quarter.

Several other institutional investors and hedge funds have also modified their holdings of TSLX. Gilman Hill Asset Management LLC boosted its holdings 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 boosted its holdings 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 acquired a new position in shares of Sixth Street Specialty Lending in the 4th quarter worth approximately $4,156,000. Round Rock Advisors LLC boosted its holdings in shares of Sixth Street Specialty Lending by 226.7% in the 1st quarter. Round Rock Advisors LLC now owns 274,483 shares of the financial services provider's stock worth $6,143,000 after acquiring an additional 190,469 shares in the last quarter. Finally, Parkwood LLC acquired a new position in shares of Sixth Street Specialty Lending in the 4th quarter worth approximately $3,937,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TSLX shares. Wells Fargo & Company boosted their target price on Sixth Street Specialty Lending from $21.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. B. Riley started coverage on shares of Sixth Street Specialty Lending in a research report on Tuesday, May 13th. They issued a "buy" rating and a $23.00 price objective for the company. Finally, JMP Securities boosted their price objective on shares of Sixth Street Specialty Lending from $24.00 to $25.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $23.28.

Sixth Street Specialty Lending Trading Up 0.9%

TSLX stock traded up $0.22 during trading on Monday, hitting $24.51. The company had a trading volume of 243,264 shares, compared to its average volume of 376,030. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 1.07. The firm has a 50-day moving average price of $24.10 and a 200-day moving average price of $22.77. Sixth Street Specialty Lending, Inc. has a 12 month low of $18.58 and a 12 month high of $25.17. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 12.19 and a beta of 0.85.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. The firm had revenue of $115.00 million during the quarter, compared to analysts' expectations of $110.42 million. Sixth Street Specialty Lending had a net margin of 39.56% and a return on equity of 13.47%. During the same quarter in the previous year, the company posted $0.58 EPS. As a group, analysts predict that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current year.

Sixth Street Specialty Lending Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, September 15th. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. Sixth Street Specialty Lending's payout ratio is presently 91.54%.

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.