Community Bank N.A. Buys 500 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Community Bank N.A. grew its stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 50.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,500 shares of the financial services provider’s stock after acquiring an additional 500 shares during the period. Community Bank N.A.’s holdings in Sixth Street Specialty Lending were worth $32,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Strs Ohio lifted its holdings in Sixth Street Specialty Lending by 2.6% during the 4th quarter. Strs Ohio now owns 3,134,865 shares of the financial services provider’s stock worth $67,713,000 after purchasing an additional 79,180 shares during the last quarter. Burgundy Asset Management Ltd. increased its holdings in Sixth Street Specialty Lending by 1.2% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 1,994,679 shares of the financial services provider’s stock valued at $40,771,000 after buying an additional 22,731 shares during the period. Sound Income Strategies LLC lifted its stake in Sixth Street Specialty Lending by 8.1% during the fourth quarter. Sound Income Strategies LLC now owns 1,989,678 shares of the financial services provider’s stock worth $42,977,000 after purchasing an additional 148,290 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Sixth Street Specialty Lending by 7.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,446,198 shares of the financial services provider’s stock valued at $29,560,000 after purchasing an additional 95,269 shares in the last quarter. Finally, Callodine Capital Management LP boosted its stake in Sixth Street Specialty Lending by 5.6% in the third quarter. Callodine Capital Management LP now owns 1,410,030 shares of the financial services provider’s stock valued at $28,821,000 after buying an additional 75,000 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Sixth Street Specialty Lending Stock Up 1.1 %

NYSE TSLX traded up $0.24 during mid-day trading on Friday, hitting $21.37. The company’s stock had a trading volume of 69,375 shares, compared to its average volume of 399,893. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 8.13 and a beta of 1.04. The company’s 50 day simple moving average is $21.15 and its 200 day simple moving average is $21.06. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.19. Sixth Street Specialty Lending, Inc. has a twelve month low of $17.31 and a twelve month high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings data on Friday, February 16th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Sixth Street Specialty Lending had a net margin of 50.69% and a return on equity of 13.67%. The firm had revenue of $119.50 million during the quarter, compared to analysts’ expectations of $115.18 million. During the same period last year, the company earned $0.65 earnings per share. Analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.35 earnings per share for the current year.

Sixth Street Specialty Lending Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.08 dividend. The ex-dividend date was Thursday, March 14th. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 1.50%. Sixth Street Specialty Lending’s dividend payout ratio is 70.77%.

Wall Street Analysts Forecast Growth

TSLX has been the subject of several research reports. Wells Fargo & Company increased their target price on Sixth Street Specialty Lending from $21.00 to $22.50 and gave the company an “overweight” rating in a research report on Monday, January 29th. JMP Securities reaffirmed a “market outperform” rating and set a $22.50 price target on shares of Sixth Street Specialty Lending in a research note on Tuesday, March 26th. Royal Bank of Canada increased their price objective on Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Finally, Truist Financial increased their price target on Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sixth Street Specialty Lending presently has an average rating of “Moderate Buy” and a consensus price target of $22.60.

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.