Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Holdings Lifted by Sound Income Strategies LLC

Sound Income Strategies LLC increased its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,361,139 shares of the financial services provider’s stock after acquiring an additional 55,767 shares during the quarter. Sixth Street Specialty Lending comprises approximately 3.1% of Sound Income Strategies LLC’s portfolio, making the stock its 2nd largest holding. Sound Income Strategies LLC owned about 2.52% of Sixth Street Specialty Lending worth $52,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ameriflex Group Inc. acquired a new stake in shares of Sixth Street Specialty Lending in the fourth quarter valued at approximately $27,000. AdvisorNet Financial Inc purchased a new stake in Sixth Street Specialty Lending in the 1st quarter valued at $40,000. First Horizon Advisors Inc. boosted its stake in Sixth Street Specialty Lending by 25.3% during the 4th quarter. First Horizon Advisors Inc. now owns 2,302 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 465 shares during the period. Signaturefd LLC boosted its stake in Sixth Street Specialty Lending by 13.3% during the 4th quarter. Signaturefd LLC now owns 4,673 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 550 shares during the period. Finally, Atlas Capital Advisors Inc. purchased a new position in Sixth Street Specialty Lending during the 4th quarter worth $109,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TSLX shares. Truist Financial upped their target price on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. B. Riley started coverage on Sixth Street Specialty Lending in a research report on Tuesday, May 13th. They set a “buy” rating and a $23.00 price objective for the company. Keefe, Bruyette & Woods lifted their target price on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Wells Fargo & Company cut their price target on Sixth Street Specialty Lending from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Finally, 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. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Sixth Street Specialty Lending has an average rating of “Buy” and an average price target of $22.81.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX stock opened at $23.32 on Friday. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 11.49 and a beta of 0.83. The stock has a 50 day simple moving average of $21.72 and a 200-day simple moving average of $21.82. Sixth Street Specialty Lending, Inc. has a 12-month low of $18.58 and a 12-month high of $23.75. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.18.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. The firm had revenue of $113.92 billion for the quarter, compared to analyst estimates of $116.70 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. On average, equities analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 2nd will be issued a $0.06 dividend. The ex-dividend date is Friday, May 30th. This represents a dividend yield of 9.21%. Sixth Street Specialty Lending’s dividend payout ratio is presently 97.35%.

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.