Confluence Investment Management LLC Acquires 3,431 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Confluence Investment Management LLC boosted its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 246,659 shares of the financial services provider’s stock after buying an additional 3,431 shares during the period. Confluence Investment Management LLC owned approximately 0.27% of Sixth Street Specialty Lending worth $5,266,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Community Bank N.A. increased its position in Sixth Street Specialty Lending by 50.0% in the 4th quarter. Community Bank N.A. now owns 1,500 shares of the financial services provider’s stock worth $32,000 after buying an additional 500 shares during the period. Precision Wealth Strategies LLC increased its position in shares of Sixth Street Specialty Lending by 5.7% during the first quarter. Precision Wealth Strategies LLC now owns 10,030 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 537 shares during the period. Nations Financial Group Inc. IA ADV increased its position in shares of Sixth Street Specialty Lending by 1.6% during the first quarter. Nations Financial Group Inc. IA ADV now owns 36,276 shares of the financial services provider’s stock valued at $777,000 after purchasing an additional 571 shares during the period. Global Retirement Partners LLC increased its position in shares of Sixth Street Specialty Lending by 105.0% during the first quarter. Global Retirement Partners LLC now owns 1,757 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 900 shares during the period. Finally, Register Financial Advisors LLC increased its position in shares of Sixth Street Specialty Lending by 15.5% during the first quarter. Register Financial Advisors LLC now owns 7,574 shares of the financial services provider’s stock valued at $162,000 after purchasing an additional 1,018 shares during the period. 70.25% of the stock is owned by institutional investors.

Sixth Street Specialty Lending Price Performance

TSLX stock traded down $0.43 during trading on Friday, hitting $20.41. The company had a trading volume of 361,244 shares, compared to its average volume of 313,280. The company has a fifty day moving average price of $21.45 and a two-hundred day moving average price of $21.38. The company has a current ratio of 1.90, a quick ratio of 2.03 and a debt-to-equity ratio of 1.07. The company has a market cap of $1.90 billion, a P/E ratio of 8.23 and a beta of 1.05. Sixth Street Specialty Lending, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. The business had revenue of $121.82 million for the quarter, compared to analyst estimates of $120.33 million. Sixth Street Specialty Lending had a return on equity of 13.76% and a net margin of 44.55%. During the same quarter in the previous year, the firm earned $0.58 EPS. Equities research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.46 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.84 dividend on an annualized basis and a yield of 9.02%. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. Sixth Street Specialty Lending’s payout ratio is currently 74.19%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lowered their price objective on Sixth Street Specialty Lending from $23.50 to $23.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Sixth Street Specialty Lending currently has an average rating of “Moderate Buy” and an average price target of $22.67.

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.