Sumitomo Mitsui Trust Group Inc. Acquires 22,211 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 377,645 shares of the financial services provider's stock after buying an additional 22,211 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.40% of Sixth Street Specialty Lending worth $8,044,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Financial Advocates Investment Management grew its stake in shares of Sixth Street Specialty Lending by 2.7% in the fourth quarter. Financial Advocates Investment Management now owns 156,155 shares of the financial services provider's stock valued at $3,326,000 after acquiring an additional 4,170 shares in the last quarter. Robertson Stephens Wealth Management LLC acquired a new position in shares of Sixth Street Specialty Lending in the fourth quarter valued at about $207,000. Country Club Bank acquired a new position in shares of Sixth Street Specialty Lending in the fourth quarter valued at about $487,000. Stratos Wealth Advisors LLC acquired a new position in shares of Sixth Street Specialty Lending in the fourth quarter valued at about $545,000. Finally, Columbus Macro LLC acquired a new position in shares of Sixth Street Specialty Lending in the fourth quarter valued at about $7,669,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods decreased their price target on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an "outperform" rating on the stock in a research note on Thursday, November 7th. Wells Fargo & Company increased their price objective 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. Finally, LADENBURG THALM/SH SH downgraded shares of Sixth Street Specialty Lending from a "buy" rating to a "neutral" rating in a research note on Friday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.33.

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock traded up $0.50 during trading hours on Friday, reaching $22.97. 730,751 shares of the stock were exchanged, compared to its average volume of 250,707. The company has a market cap of $2.14 billion, a P/E ratio of 11.15 and a beta of 1.06. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 1.17. Sixth Street Specialty Lending, Inc. has a twelve month low of $19.50 and a twelve month high of $23.15. The stock has a 50 day moving average of $21.57 and a two-hundred day moving average of $21.02.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last posted its earnings results on Thursday, February 13th. The financial services provider reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.04. The firm had revenue of $123.70 million during the quarter, compared to analysts' expectations of $120.07 million. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. Equities analysts expect that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.07 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from Sixth Street Specialty Lending's previous quarterly dividend of $0.05. Sixth Street Specialty Lending's dividend payout ratio is 89.32%.

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.