Dearborn Partners LLC Reduces Holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Dearborn Partners LLC lowered its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 32.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,005 shares of the financial services provider’s stock after selling 27,657 shares during the period. Dearborn Partners LLC owned approximately 0.06% of Sixth Street Specialty Lending worth $1,191,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. EntryPoint Capital LLC purchased a new stake in shares of Sixth Street Specialty Lending during the 1st quarter worth approximately $35,000. nVerses Capital LLC acquired a new stake in shares of Sixth Street Specialty Lending in the 2nd quarter valued at approximately $70,000. Ridgewood Investments LLC purchased a new stake in shares of Sixth Street Specialty Lending during the 2nd quarter worth $77,000. Future Financial Wealth Managment LLC acquired a new position in Sixth Street Specialty Lending during the third quarter worth about $86,000. Finally, Atlas Capital Advisors LLC acquired a new stake in shares of Sixth Street Specialty Lending in the 2nd quarter worth approximately $109,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Sixth Street Specialty Lending Stock Performance

TSLX stock opened at $20.26 on Friday. The stock’s 50 day simple moving average is $20.59 and its 200 day simple moving average is $21.04. Sixth Street Specialty Lending, Inc. has a 12-month low of $19.50 and a 12-month high of $22.35. The firm has a market cap of $1.89 billion, a P/E ratio of 9.83 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 (NYSE:TSLX) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The business had revenue of $119.22 million for the quarter, compared to analysts’ expectations of $119.85 million. During the same quarter last year, the company earned $0.60 EPS. As a group, equities research analysts predict that Sixth Street Specialty Lending, Inc. will post 2.32 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently announced a — dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be issued a dividend of $0.05 per share. This represents a yield of 9.1%. The ex-dividend date is Friday, November 29th. Sixth Street Specialty Lending’s 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.