Rockefeller Capital Management L.P. Buys 43,996 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Rockefeller Capital Management L.P. boosted its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 29.6% in the third quarter, Holdings Channel reports. The institutional investor owned 192,446 shares of the financial services provider’s stock after purchasing an additional 43,996 shares during the period. Rockefeller Capital Management L.P.’s holdings in Sixth Street Specialty Lending were worth $3,951,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLX. Van ECK Associates Corp increased its holdings in shares of Sixth Street Specialty Lending by 6.6% in the 3rd quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock worth $47,117,000 after purchasing an additional 141,463 shares in the last quarter. Sound Income Strategies LLC increased its holdings in shares of Sixth Street Specialty Lending by 2.5% in 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 in the last quarter. Burgundy Asset Management Ltd. boosted its stake in shares of Sixth Street Specialty Lending by 1.4% in 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 buying an additional 29,034 shares during the last quarter. Progeny 3 Inc. boosted its stake in shares of Sixth Street Specialty Lending by 2.6% in the 2nd quarter. Progeny 3 Inc. now owns 2,036,778 shares of the financial services provider’s stock worth $43,485,000 after buying an additional 50,908 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of 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 worth $27,307,000 after buying an additional 79,000 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Price Performance

NYSE TSLX opened at $21.50 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.50 and a current ratio of 2.50. The business’s fifty day moving average is $20.62 and its 200 day moving average is $20.99. The company has a market capitalization of $2.01 billion, a PE ratio of 10.44 and a beta of 1.06. Sixth Street Specialty Lending, Inc. has a fifty-two week low of $19.50 and a fifty-two week high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates 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. Sell-side analysts predict that Sixth Street Specialty Lending, Inc. will post 2.32 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a yield of 7.59%. Sixth Street Specialty Lending’s dividend payout ratio is presently 89.32%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. LADENBURG THALM/SH SH upgraded Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Wednesday, November 6th. 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 dropped their price target on 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. Finally, Wells Fargo & Company dropped their price target on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Sixth Street Specialty Lending currently has a consensus rating of “Buy” and a consensus 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.