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

Sound Income Strategies LLC grew its position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 4.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,070,259 shares of the financial services provider’s stock after buying an additional 80,581 shares during the period. Sixth Street Specialty Lending accounts for approximately 3.3% of Sound Income Strategies LLC’s investment portfolio, making the stock its 2nd largest holding. Sound Income Strategies LLC’s holdings in Sixth Street Specialty Lending were worth $44,366,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its holdings in Sixth Street Specialty Lending by 10.8% in the third quarter. HighTower Advisors LLC now owns 28,436 shares of the financial services provider’s stock valued at $581,000 after purchasing an additional 2,766 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Sixth Street Specialty Lending during the third quarter valued at approximately $305,000. Envestnet Asset Management Inc. increased its stake in Sixth Street Specialty Lending by 18.4% in the third quarter. Envestnet Asset Management Inc. now owns 279,883 shares of the financial services provider’s stock valued at $5,721,000 after purchasing an additional 43,501 shares in the last quarter. LPL Financial LLC raised its holdings in Sixth Street Specialty Lending by 4.7% in the third quarter. LPL Financial LLC now owns 362,462 shares of the financial services provider’s stock worth $7,409,000 after purchasing an additional 16,133 shares during the period. Finally, Stifel Financial Corp boosted its position in shares of Sixth Street Specialty Lending by 17.9% during the third quarter. Stifel Financial Corp now owns 445,846 shares of the financial services provider’s stock worth $9,113,000 after purchasing an additional 67,649 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on TSLX. JMP Securities restated a “market outperform” rating and issued a $22.50 price target on shares of Sixth Street Specialty Lending in a report on Tuesday, March 26th. Keefe, Bruyette & Woods dropped their target price on shares of Sixth Street Specialty Lending from $23.50 to $23.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sixth Street Specialty Lending currently has an average rating of “Moderate Buy” and a consensus price target of $22.67.

Sixth Street Specialty Lending Stock Up 0.1 %

TSLX traded up $0.03 during trading on Wednesday, reaching $21.17. 211,922 shares of the stock were exchanged, compared to its average volume of 388,412. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.03 and a current ratio of 2.03. The stock’s 50 day moving average price is $21.41 and its two-hundred day moving average price is $21.40. Sixth Street Specialty Lending, Inc. has a twelve month low of $18.24 and a twelve month high of $22.35. The stock has a market cap of $1.96 billion, a P/E ratio of 8.52 and a beta of 1.04.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.02). The firm had revenue of $117.78 million during the quarter, compared to the consensus estimate of $118.44 million. Sixth Street Specialty Lending had a net margin of 47.16% and a return on equity of 13.74%. Equities analysts expect 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 Thursday, June 20th. Shareholders of record on Monday, June 3rd were given a dividend of $0.06 per share. The ex-dividend date was Friday, May 31st. This represents a yield of 7.63%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 74.19%.

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.