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

Sound Income Strategies LLC increased its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 5.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,305,372 shares of the financial services provider’s stock after purchasing an additional 122,312 shares during the quarter. Sixth Street Specialty Lending makes up 3.0% of Sound Income Strategies LLC’s holdings, making the stock its 3rd largest position. Sound Income Strategies LLC’s holdings in Sixth Street Specialty Lending were worth $49,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in TSLX. Trust Co. of Vermont purchased a new position in Sixth Street Specialty Lending in the fourth quarter worth $39,000. Quarry LP grew its stake in Sixth Street Specialty Lending by 378.3% during the 3rd quarter. Quarry LP now owns 4,094 shares of the financial services provider’s stock worth $84,000 after buying an additional 3,238 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in Sixth Street Specialty Lending during the 3rd quarter worth $86,000. Whittier Trust Co. of Nevada Inc. acquired a new position in Sixth Street Specialty Lending during the 3rd quarter valued at about $196,000. Finally, ProShare Advisors LLC raised its stake in Sixth Street Specialty Lending by 14.5% in the second quarter. ProShare Advisors LLC now owns 14,986 shares of the financial services provider’s stock valued at $320,000 after buying an additional 1,898 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Price Performance

Shares of NYSE:TSLX opened at $22.02 on Friday. Sixth Street Specialty Lending, Inc. has a twelve month low of $19.50 and a twelve month high of $22.35. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 1.17. The company has a market cap of $2.05 billion, a PE ratio of 10.69 and a beta of 1.05. The company’s 50 day moving average is $21.14 and its 200 day moving average is $20.92.

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. The firm had revenue of $119.22 million for the quarter, compared to analyst estimates of $119.85 million. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. During the same quarter in the prior year, the business earned $0.60 earnings per share. On average, sell-side analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 2nd were issued a $0.05 dividend. The ex-dividend date was Friday, November 29th. This represents a dividend yield of 7.59%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 89.32%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TSLX. 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. LADENBURG THALM/SH SH raised shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 price target on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of 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. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average 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.