Wells Fargo & Company MN Increases Stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Wells Fargo & Company MN boosted its position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,183,141 shares of the financial services provider's stock after acquiring an additional 33,026 shares during the period. Wells Fargo & Company MN owned 1.27% of Sixth Street Specialty Lending worth $25,201,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TSLX. JPMorgan Chase & Co. lifted its position in shares of Sixth Street Specialty Lending by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 1,175,388 shares of the financial services provider's stock valued at $24,131,000 after acquiring an additional 162,810 shares in the last quarter. Gilman Hill Asset Management LLC purchased a new position in shares of Sixth Street Specialty Lending in the 4th quarter worth approximately $1,974,000. Round Rock Advisors LLC purchased a new position in Sixth Street Specialty Lending during the fourth quarter worth $1,789,000. Raymond James Financial Inc. bought a new position in Sixth Street Specialty Lending in the 4th quarter valued at $17,488,000. Finally, Baillie Gifford & Co. lifted its holdings in shares of Sixth Street Specialty Lending by 72.5% in the 4th quarter. Baillie Gifford & Co. now owns 306,429 shares of the financial services provider's stock worth $6,527,000 after buying an additional 128,763 shares during the period. 70.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TSLX has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. LADENBURG THALM/SH SH lowered Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a report on Friday, February 14th. Royal Bank of Canada upped their target price on Sixth Street Specialty Lending from $23.00 to $25.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price objective on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Finally, Truist Financial boosted their price objective on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.17.

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock traded up $0.16 during midday trading on Thursday, reaching $20.28. The company had a trading volume of 151,865 shares, compared to its average volume of 361,906. The firm's fifty day simple moving average is $22.00 and its 200-day simple moving average is $21.37. Sixth Street Specialty Lending, Inc. has a 12-month low of $18.58 and a 12-month high of $23.67. The company has a market capitalization of $1.90 billion, a P/E ratio of 9.99 and a beta of 0.88. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.90 and a quick ratio of 1.90.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last posted its earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04. The company had revenue of $123.70 million during the quarter, compared to analysts' expectations of $120.07 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. As a group, equities analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd were issued a $0.07 dividend. This is a positive change from Sixth Street Specialty Lending's previous dividend of $0.05. This represents a dividend yield of 6.99%. The ex-dividend date of this dividend was Friday, February 28th. Sixth Street Specialty Lending's dividend payout ratio is currently 90.64%.

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.