Monument Capital Management lessened its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX – Get Rating) by 2.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,048 shares of the financial services provider's stock after selling 998 shares during the period. Monument Capital Management's holdings in Sixth Street Specialty Lending were worth $667,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Sound Income Strategies LLC increased its holdings in Sixth Street Specialty Lending by 3.1% during the second quarter. Sound Income Strategies LLC now owns 1,418,208 shares of the financial services provider's stock worth $26,237,000 after buying an additional 42,048 shares during the last quarter. Van ECK Associates Corp increased its holdings in Sixth Street Specialty Lending by 20.8% during the first quarter. Van ECK Associates Corp now owns 1,234,247 shares of the financial services provider's stock worth $28,746,000 after buying an additional 212,401 shares during the last quarter. Progeny 3 Inc. raised its position in shares of Sixth Street Specialty Lending by 30.2% in the first quarter. Progeny 3 Inc. now owns 1,106,395 shares of the financial services provider's stock valued at $25,768,000 after purchasing an additional 256,418 shares during the period. Bank of America Corp DE raised its position in shares of Sixth Street Specialty Lending by 10.8% in the first quarter. Bank of America Corp DE now owns 967,347 shares of the financial services provider's stock valued at $22,530,000 after purchasing an additional 94,277 shares during the period. Finally, Cliffwater LLC raised its position in shares of Sixth Street Specialty Lending by 9.6% in the first quarter. Cliffwater LLC now owns 708,492 shares of the financial services provider's stock valued at $16,501,000 after purchasing an additional 62,146 shares during the period. Hedge funds and other institutional investors own 43.63% of the company's stock.
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Sixth Street Specialty Lending Price Performance
Shares of NYSE:TSLX opened at $16.13 on Friday. The company has a 50 day moving average of $18.62 and a 200 day moving average of $20.20. The stock has a market cap of $1.31 billion, a P/E ratio of 9.90 and a beta of 1.05. Sixth Street Specialty Lending, Inc. has a 12 month low of $16.09 and a 12 month high of $24.74. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.01.
Sixth Street Specialty Lending (NYSE:TSLX – Get Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $63.89 million during the quarter, compared to analysts' expectations of $69.95 million. Sixth Street Specialty Lending had a net
margin of 44.20% and a return on equity of 12.98%. As a group, sell-side analysts forecast that Sixth Street Specialty Lending, Inc. will post 1.95 EPS for the current fiscal year.
Sixth Street Specialty Lending Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid a dividend of $0.42 per share. The ex-dividend date is Wednesday, September 14th. This represents a $1.68 annualized dividend and a yield of 10.42%. This is a boost from Sixth Street Specialty Lending's previous quarterly dividend of $0.41. Sixth Street Specialty Lending's payout ratio is currently 103.07%.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on TSLX. Raymond James lowered their price target on shares of Sixth Street Specialty Lending from $25.00 to $22.00 and set an "outperform" rating on the stock in a research report on Thursday, August 4th. StockNews.com raised shares of Sixth Street Specialty Lending from a "sell" rating to a "hold" rating in a research report on Thursday, September 22nd. Finally, TheStreet lowered shares of Sixth Street Specialty Lending from a "b-" rating to a "c" rating in a research report on Thursday, August 11th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $23.38.
Sixth Street Specialty Lending Company Profile
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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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