Raymond James Financial Inc. Takes Position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Raymond James Financial Inc. acquired a new stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 821,040 shares of the financial services provider's stock, valued at approximately $17,488,000. Raymond James Financial Inc. owned 0.88% of Sixth Street Specialty Lending at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Vermont bought a new position in shares of Sixth Street Specialty Lending in the fourth quarter valued at approximately $39,000. First Horizon Advisors Inc. raised its stake in shares of Sixth Street Specialty Lending by 25.3% during the 4th quarter. First Horizon Advisors Inc. now owns 2,302 shares of the financial services provider's stock worth $49,000 after purchasing an additional 465 shares during the period. Quarry LP boosted its holdings in shares of Sixth Street Specialty Lending by 378.3% in the 3rd quarter. Quarry LP now owns 4,094 shares of the financial services provider's stock worth $84,000 after buying an additional 3,238 shares during the last quarter. EMC Capital Management boosted its holdings in shares of Sixth Street Specialty Lending by 92.5% in the 4th quarter. EMC Capital Management now owns 6,747 shares of the financial services provider's stock worth $144,000 after buying an additional 3,242 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC bought a new position in Sixth Street Specialty Lending during the fourth quarter valued at about $207,000. 70.25% of the stock is owned by institutional investors.

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Analyst Ratings Changes

A number of equities research analysts recently commented on TSLX shares. JPMorgan Chase & Co. lifted their price target on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Truist Financial lifted their price objective on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Wells Fargo & Company lifted their target price on shares of 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. Royal Bank of Canada raised their price objective on shares of Sixth Street Specialty Lending from $23.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH cut shares of Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a report on Friday, February 14th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.07.

Sixth Street Specialty Lending Price Performance

NYSE:TSLX traded up $0.16 during mid-day trading on Friday, hitting $22.52. 947,040 shares of the stock traded hands, compared to its average volume of 339,600. Sixth Street Specialty Lending, Inc. has a 12-month low of $19.50 and a 12-month high of $23.67. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.18. The company has a market cap of $2.11 billion, a PE ratio of 11.09 and a beta of 1.08. The business's 50-day moving average price is $22.34 and its 200 day moving average price is $21.34.

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

Sixth Street Specialty Lending Increases Dividend

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

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.