Van ECK Associates Corp Raises Stock Holdings in Sixth Street Specialty Lending, Inc. $TSLX

Van ECK Associates Corp raised its stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 28.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,366,266 shares of the financial services provider’s stock after purchasing an additional 519,456 shares during the quarter. Van ECK Associates Corp’s holdings in Sixth Street Specialty Lending were worth $40,629,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TSLX. Burk Holdings LLC purchased a new stake in shares of Sixth Street Specialty Lending in the 2nd quarter valued at approximately $51,000. Advisory Services Network LLC acquired a new stake in Sixth Street Specialty Lending in the 3rd quarter valued at approximately $75,000. Fifth Third Bancorp acquired a new stake in Sixth Street Specialty Lending in the 1st quarter valued at approximately $63,000. Redmont Wealth Advisors LLC increased its holdings in Sixth Street Specialty Lending by 37.8% in the 4th quarter. Redmont Wealth Advisors LLC now owns 4,776 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 1,310 shares during the last quarter. Finally, Frazier Financial Advisors LLC purchased a new stake in Sixth Street Specialty Lending in the second quarter valued at approximately $83,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on TSLX. Wall Street Zen upgraded Sixth Street Specialty Lending from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research upgraded Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of Sixth Street Specialty Lending in a research note on Thursday, August 13th. Wells Fargo & Company lowered their target price on Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Finally, Royal Bank Of Canada cut their price target on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.83.

Sixth Street Specialty Lending Stock Performance

Shares of Sixth Street Specialty Lending stock opened at $18.75 on Friday. Sixth Street Specialty Lending, Inc. has a one year low of $16.04 and a one year high of $24.79. The company has a market cap of $1.78 billion, a PE ratio of 19.74 and a beta of 0.59. The company has a debt-to-equity ratio of 1.24, a quick ratio of 9.83 and a current ratio of 9.83. The business has a 50-day simple moving average of $17.71 and a 200-day simple moving average of $17.96.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.01. Sixth Street Specialty Lending had a net margin of 21.79% and a return on equity of 11.33%. The firm had revenue of $97.84 million for the quarter, compared to analysts’ expectations of $95.28 million. During the same quarter last year, the company earned $0.56 earnings per share. On average, equities research analysts forecast that Sixth Street Specialty Lending, Inc. will post 1.74 EPS for the current fiscal year.

Sixth Street Specialty Lending Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 9.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Sixth Street Specialty Lending’s payout ratio is 176.84%.

About Sixth Street Specialty Lending

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.