IFP Advisors Inc Buys 71,693 Shares of Sixth Street Specialty Lending, Inc. $TSLX

Key Points

• IFP Advisors increased its Sixth Street Specialty Lending stake by 30.6% in the second quarter, purchasing 71,693 additional shares and bringing its holdings to 305,604 shares valued at approximately $5.25 million.
• Analysts maintain a generally positive outlook, with five Buy ratings and three Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $19.83.
• Sixth Street Specialty Lending exceeded quarterly earnings and revenue estimates, reporting $0.43 EPS and $97.84 million in revenue. The company declared a $0.42 quarterly dividend, equivalent to a 9.4% annualized yield.

IFP Advisors Inc increased its stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 30.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 305,604 shares of the financial services provider's stock after purchasing an additional 71,693 shares during the quarter. IFP Advisors Inc owned approximately 0.32% of Sixth Street Specialty Lending worth $5,247,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TSLX. Burk Holdings LLC acquired a new stake in shares of Sixth Street Specialty Lending in the second quarter worth $51,000. Fifth Third Bancorp bought a new stake in shares of Sixth Street Specialty Lending during the 1st quarter worth $63,000. Advisory Services Network LLC acquired a new position in Sixth Street Specialty Lending in the 3rd quarter valued at $75,000. Frazier Financial Advisors LLC acquired a new position in Sixth Street Specialty Lending in the 2nd quarter valued at $83,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in Sixth Street Specialty Lending in the 2nd quarter worth $96,000. Institutional investors own 70.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TSLX. Zacks Research raised shares of Sixth Street Specialty Lending from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. lowered their price target on Sixth Street Specialty Lending from $17.50 to $16.50 and set a "neutral" rating on the stock in a research report on Thursday, July 2nd. Keefe, Bruyette & Woods lifted their price objective on Sixth Street Specialty Lending from $18.50 to $19.50 and gave the stock an "outperform" rating in a research note on Monday, August 10th. Wall Street Zen raised Sixth Street Specialty Lending from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings upgraded Sixth Street Specialty Lending from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, September 4th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $19.83.

Sixth Street Specialty Lending Price Performance

Shares of Sixth Street Specialty Lending stock opened at $17.85 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 9.83 and a quick ratio of 9.83. Sixth Street Specialty Lending, Inc. has a fifty-two week low of $16.04 and a fifty-two week high of $24.76. The firm has a fifty day moving average price of $17.96 and a two-hundred day moving average price of $17.88. The company has a market cap of $1.70 billion, a PE ratio of 18.79 and a beta of 0.61.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.01. Sixth Street Specialty Lending had a net margin of 21.79% and a return on equity of 11.33%. The company had revenue of $97.84 million for the quarter, compared to analyst estimates of $95.28 million. During the same period last year, the business posted $0.56 EPS. Analysts expect that Sixth Street Specialty Lending, Inc. will post 1.74 EPS for the current year.

Sixth Street Specialty Lending Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.68 annualized dividend and a yield of 9.4%. Sixth Street Specialty Lending's dividend payout ratio is 176.84%.

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.

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