MQS Management LLC Buys Shares of 36,472 Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

MQS Management LLC purchased a new position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 36,472 shares of the financial services provider’s stock, valued at approximately $749,000.

Several other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp grew its position in Sixth Street Specialty Lending by 6.6% in the third quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock worth $47,117,000 after acquiring an additional 141,463 shares during the period. Sound Income Strategies LLC grew its holdings in shares of Sixth Street Specialty Lending by 2.5% during the 3rd quarter. Sound Income Strategies LLC now owns 2,183,060 shares of the financial services provider’s stock worth $44,818,000 after purchasing an additional 53,961 shares during the period. Burgundy Asset Management Ltd. grew its holdings in shares of Sixth Street Specialty Lending by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,105,853 shares of the financial services provider’s stock worth $44,960,000 after purchasing an additional 29,034 shares during the period. Progeny 3 Inc. increased its position in shares of Sixth Street Specialty Lending by 2.6% during the 2nd quarter. Progeny 3 Inc. now owns 2,036,778 shares of the financial services provider’s stock worth $43,485,000 after purchasing an additional 50,908 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in Sixth Street Specialty Lending by 6.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,279,000 shares of the financial services provider’s stock valued at $27,307,000 after buying an additional 79,000 shares during the period. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock opened at $20.39 on Wednesday. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17. Sixth Street Specialty Lending, Inc. has a 52-week low of $19.50 and a 52-week high of $22.35. The firm has a market cap of $1.90 billion, a PE ratio of 9.90 and a beta of 1.06. The company’s 50 day moving average is $20.62 and its two-hundred day moving average is $21.05.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $119.22 million for the quarter, compared to analysts’ expectations of $119.85 million. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. During the same period last year, the firm earned $0.60 earnings per share. On average, research analysts expect that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be paid a $0.05 dividend. This represents a dividend yield of 9.1%. The ex-dividend date is Friday, November 29th. Sixth Street Specialty Lending’s payout ratio is presently 89.32%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TSLX. Keefe, Bruyette & Woods lowered their target price on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a research note on Thursday, November 7th. LADENBURG THALM/SH SH raised shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Wednesday, November 6th. Wells Fargo & Company cut their target price on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $23.00 price target on shares of Sixth Street Specialty Lending in a research report on Tuesday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Sixth Street Specialty Lending has a consensus rating of “Buy” and an average target price of $22.00.

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.