Sound Income Strategies LLC Has $49.10 Million Position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Sound Income Strategies LLC lifted its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,305,372 shares of the financial services provider’s stock after buying an additional 122,312 shares during the period. Sixth Street Specialty Lending comprises 3.0% of Sound Income Strategies LLC’s holdings, making the stock its 3rd largest holding. Sound Income Strategies LLC owned approximately 2.47% of Sixth Street Specialty Lending worth $49,104,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TSLX. Van ECK Associates Corp lifted its position in Sixth Street Specialty Lending by 6.6% in the third quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock worth $47,117,000 after buying an additional 141,463 shares during the last quarter. Progeny 3 Inc. lifted its holdings in shares of Sixth Street Specialty Lending by 10.6% in the 3rd quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider’s stock worth $46,249,000 after acquiring an additional 215,996 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Sixth Street Specialty Lending by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,175,388 shares of the financial services provider’s stock worth $24,131,000 after purchasing an additional 162,810 shares during the period. Two Sigma Advisers LP grew its holdings in Sixth Street Specialty Lending by 1.1% during the 3rd quarter. Two Sigma Advisers LP now owns 867,286 shares of the financial services provider’s stock valued at $17,805,000 after purchasing an additional 9,700 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in Sixth Street Specialty Lending by 5.3% during the 3rd quarter. Stifel Financial Corp now owns 550,995 shares of the financial services provider’s stock valued at $11,312,000 after purchasing an additional 27,960 shares during the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods dropped their target price on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and set a $23.00 price objective on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. LADENBURG THALM/SH SH upgraded 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 note on Wednesday, November 6th. Finally, Wells Fargo & Company lowered their target price on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Sixth Street Specialty Lending has a consensus rating of “Buy” and a consensus price target of $22.00.

Sixth Street Specialty Lending Trading Up 0.6 %

TSLX opened at $22.02 on Friday. Sixth Street Specialty Lending, Inc. has a 52 week low of $19.50 and a 52 week high of $22.35. The company has a market capitalization of $2.05 billion, a P/E ratio of 10.69 and a beta of 1.05. The stock’s fifty day moving average is $21.14 and its two-hundred day moving average is $20.92. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. The firm had revenue of $119.22 million for the quarter, compared to analyst estimates of $119.85 million. During the same quarter last year, the firm posted $0.60 earnings per share. Analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

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

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.