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

Raymond James Financial Inc. acquired a new position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 821,040 shares of the financial services provider's stock, valued at approximately $17,488,000. Raymond James Financial Inc. owned approximately 0.88% of Sixth Street Specialty Lending at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLX. First Horizon Advisors Inc. boosted its stake in 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 valued at $49,000 after purchasing an additional 465 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Sixth Street Specialty Lending by 13.3% during the fourth quarter. Signaturefd LLC now owns 4,673 shares of the financial services provider's stock valued at $100,000 after purchasing an additional 550 shares in the last quarter. Cornerstone Wealth Management LLC boosted its position in shares of Sixth Street Specialty Lending by 1.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 46,184 shares of the financial services provider's stock valued at $984,000 after buying an additional 621 shares during the last quarter. Dearborn Partners LLC increased its holdings in Sixth Street Specialty Lending by 1.3% in the 4th quarter. Dearborn Partners LLC now owns 58,768 shares of the financial services provider's stock worth $1,252,000 after buying an additional 763 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Sixth Street Specialty Lending by 7.6% in the 4th quarter. Bank of New York Mellon Corp now owns 12,811 shares of the financial services provider's stock worth $273,000 after buying an additional 909 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TSLX. Truist Financial raised their price target 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. Wells Fargo & Company raised 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 report on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their target price on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. LADENBURG THALM/SH SH cut Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a report on Friday, February 14th. Finally, Royal Bank of Canada upped their price objective 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. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $22.92.

Sixth Street Specialty Lending Stock Performance

Shares of NYSE:TSLX traded up $0.06 during mid-day trading on Friday, reaching $20.89. 110,500 shares of the company traded hands, compared to its average volume of 360,427. The company's 50 day moving average price is $21.76 and its 200-day moving average price is $21.37. The firm has a market cap of $1.96 billion, a PE ratio of 10.29 and a beta of 0.88. Sixth Street Specialty Lending, Inc. has a 52 week low of $18.58 and a 52 week high of $23.67. 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 quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.04. The business had revenue of $123.70 million during the quarter, compared to analyst estimates 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, equities 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 firm also recently declared a dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd were paid a $0.07 dividend. This represents a yield of 6.99%. The ex-dividend date was Friday, February 28th. This is a positive change from Sixth Street Specialty Lending's previous dividend of $0.05. Sixth Street Specialty Lending's dividend payout ratio is presently 90.64%.

Sixth Street Specialty Lending Company 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.