Progeny 3 Inc. Increases Position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Progeny 3 Inc. lifted its holdings in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 6.1% during the 4th quarter, Holdings Channel reports. The firm owned 2,390,680 shares of the financial services provider’s stock after purchasing an additional 137,906 shares during the quarter. Sixth Street Specialty Lending comprises 4.0% of Progeny 3 Inc.’s holdings, making the stock its 9th largest position. Progeny 3 Inc.’s holdings in Sixth Street Specialty Lending were worth $50,921,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLX. First Horizon Advisors Inc. boosted its holdings in Sixth Street Specialty Lending by 25.3% in the fourth quarter. First Horizon Advisors Inc. now owns 2,302 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 465 shares in the last quarter. Signaturefd LLC boosted its holdings in Sixth Street Specialty Lending by 13.3% in the fourth quarter. Signaturefd LLC now owns 4,673 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 550 shares in the last quarter. Cornerstone Wealth Management LLC boosted its holdings in Sixth Street Specialty Lending by 1.4% in the fourth quarter. Cornerstone Wealth Management LLC now owns 46,184 shares of the financial services provider’s stock worth $984,000 after acquiring an additional 621 shares in the last quarter. Dearborn Partners LLC boosted its holdings in Sixth Street Specialty Lending by 1.3% in the fourth quarter. Dearborn Partners LLC now owns 58,768 shares of the financial services provider’s stock worth $1,252,000 after acquiring an additional 763 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Sixth Street Specialty Lending by 7.6% in the fourth quarter. Bank of New York Mellon Corp now owns 12,811 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 909 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Stock Performance

Shares of Sixth Street Specialty Lending stock opened at $22.49 on Thursday. The company has a market cap of $2.11 billion, a PE ratio of 11.08 and a beta of 0.82. Sixth Street Specialty Lending, Inc. has a 52 week low of $18.58 and a 52 week high of $23.67. The business has a 50 day moving average price of $21.23 and a 200-day moving average price of $21.42. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.18.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. The company had revenue of $113.92 billion during the quarter, compared to the consensus estimate of $116.70 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. During the same period last year, the business posted $0.52 earnings per share. Equities analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.06 per share. This represents a dividend yield of 8.9%. The ex-dividend date is Monday, June 16th. Sixth Street Specialty Lending’s payout ratio is 97.35%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Royal Bank of Canada increased their price target on Sixth Street Specialty Lending from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. cut their price target on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Raymond James cut their price target on Sixth Street Specialty Lending from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Truist Financial increased their price target on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, LADENBURG THALM/SH SH downgraded Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research note on Friday, February 14th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $22.81.

About Sixth Street Specialty Lending

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.