Ehrenkranz Partners L.P. Takes Position in Sixth Street Specialty Lending, Inc. $TSLX

Ehrenkranz Partners L.P. acquired a new position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 37,474 shares of the financial services provider’s stock, valued at approximately $857,000. Sixth Street Specialty Lending accounts for approximately 0.8% of Ehrenkranz Partners L.P.’s portfolio, making the stock its 18th largest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Tectonic Advisors LLC purchased a new position in Sixth Street Specialty Lending in the 3rd quarter worth approximately $12,777,000. Van ECK Associates Corp grew its holdings in Sixth Street Specialty Lending by 18.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider’s stock valued at $57,817,000 after buying an additional 385,398 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of Sixth Street Specialty Lending during the second quarter valued at approximately $4,243,000. Muzinich & Co. Inc. raised its position in shares of Sixth Street Specialty Lending by 22.7% during the third quarter. Muzinich & Co. Inc. now owns 746,958 shares of the financial services provider’s stock valued at $17,075,000 after buying an additional 138,342 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Sixth Street Specialty Lending by 25.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 662,896 shares of the financial services provider’s stock worth $15,154,000 after buying an additional 135,789 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

Wall Street Analyst Weigh In

TSLX has been the subject of a number of research reports. Truist Financial dropped their target price on shares of Sixth Street Specialty Lending from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Weiss Ratings downgraded shares of Sixth Street Specialty Lending from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 20th. Wells Fargo & Company decreased their price target on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Citizens Jmp reissued a “market outperform” rating and set a $25.00 price objective on shares of Sixth Street Specialty Lending in a report on Wednesday, February 18th. Finally, Keefe, Bruyette & Woods cut their price objective on Sixth Street Specialty Lending from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.94.

Sixth Street Specialty Lending Trading Down 1.3%

Shares of NYSE TSLX opened at $17.81 on Friday. Sixth Street Specialty Lending, Inc. has a 1-year low of $16.99 and a 1-year high of $25.17. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.83 and a quick ratio of 2.83. The business’s 50 day moving average is $20.21 and its two-hundred day moving average is $21.60. The stock has a market capitalization of $1.69 billion, a P/E ratio of 9.84 and a beta of 0.73.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Thursday, February 12th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.20). The company had revenue of $108.25 million during the quarter, compared to the consensus estimate of $107.11 million. Sixth Street Specialty Lending had a net margin of 37.99% and a return on equity of 12.71%. During the same period in the previous year, the business earned $0.61 earnings per share. As a group, research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a $0.01 dividend. The ex-dividend date is Monday, March 16th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 101.66%.

Insider Transactions at Sixth Street Specialty Lending

In other news, VP Alan Waxman acquired 45,000 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was bought at an average cost of $18.47 per share, with a total value of $831,150.00. Following the completion of the purchase, the vice president directly owned 545,000 shares of the company’s stock, valued at $10,066,150. This represents a 9.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 545,000 shares of company stock valued at $9,997,150 in the last ninety days. 3.22% of the stock is owned by company insiders.

Sixth Street Specialty Lending Profile

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.