Sixth Street Specialty Lending, Inc. $TSLX Position Lifted by Sound Income Strategies LLC

Sound Income Strategies LLC lifted its holdings in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 2.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 2,571,052 shares of the financial services provider’s stock after acquiring an additional 59,937 shares during the period. Sixth Street Specialty Lending accounts for about 2.2% of Sound Income Strategies LLC’s investment portfolio, making the stock its 4th largest holding. Sound Income Strategies LLC’s holdings in Sixth Street Specialty Lending were worth $46,562,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TSLX. Legal & General Group Plc lifted its position in Sixth Street Specialty Lending by 16.0% during the fourth quarter. Legal & General Group Plc now owns 665,352 shares of the financial services provider’s stock worth $14,455,000 after buying an additional 91,578 shares during the period. Van ECK Associates Corp grew its holdings in Sixth Street Specialty Lending by 18.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,529,187 shares of the financial services provider’s stock valued at $57,817,000 after buying an additional 385,398 shares during the period. Tectonic Advisors LLC grew its holdings in Sixth Street Specialty Lending by 10.5% in the 4th quarter. Tectonic Advisors LLC now owns 617,476 shares of the financial services provider’s stock valued at $13,412,000 after buying an additional 58,538 shares during the period. Stratos Wealth Advisors LLC acquired a new position in shares of Sixth Street Specialty Lending during the 4th quarter valued at about $4,129,000. Finally, OMERS ADMINISTRATION Corp increased its stake in shares of Sixth Street Specialty Lending by 157.2% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 469,109 shares of the financial services provider’s stock valued at $10,189,000 after acquiring an additional 286,724 shares during the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TSLX shares. Royal Bank Of Canada decreased their target price on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings lowered shares of Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Keefe, Bruyette & Woods cut their price target on shares of Sixth Street Specialty Lending from $21.00 to $18.50 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Truist Financial cut their price target on shares of Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Finally, Zacks Research lowered shares of Sixth Street Specialty Lending from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Sixth Street Specialty Lending presently has an average rating of “Moderate Buy” and an average target price of $19.67.

Insider Activity

In other Sixth Street Specialty Lending news, VP Ross Anthony Bruck bought 8,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $17.76 per share, with a total value of $142,080.00. Following the purchase, the vice president owned 18,250 shares in the company, valued at approximately $324,120. The trade was a 78.05% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.83% of the stock is owned by insiders.

Sixth Street Specialty Lending Stock Performance

Sixth Street Specialty Lending stock opened at $17.32 on Friday. The stock’s 50-day moving average is $17.51 and its 200-day moving average is $19.04. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 15.07 and a beta of 0.59. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.39 and a quick ratio of 3.39. Sixth Street Specialty Lending, Inc. has a 12 month low of $16.04 and a 12 month high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The firm had revenue of $93.40 million for the quarter, compared to analysts’ expectations of $103.14 million. Sixth Street Specialty Lending had a return on equity of 11.92% and a net margin of 25.25%.During the same quarter in the previous year, the firm posted $0.58 EPS. Equities analysts anticipate that Sixth Street Specialty Lending, Inc. will post 1.71 earnings per share for the current year.

Sixth Street Specialty Lending Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.42 per share. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. This represents a $1.68 annualized dividend and a yield of 9.7%. The ex-dividend date was Monday, June 15th. Sixth Street Specialty Lending’s payout ratio is presently 146.09%.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending Inc (NYSE: TSLX) is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.