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

Sound Income Strategies LLC lifted its position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 2.4% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,361,139 shares of the financial services provider's stock after buying an additional 55,767 shares during the period. Sixth Street Specialty Lending accounts for approximately 3.1% of Sound Income Strategies LLC's portfolio, making the stock its 2nd largest holding. Sound Income Strategies LLC owned approximately 2.52% of Sixth Street Specialty Lending worth $52,842,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSLX. BNP Paribas Financial Markets purchased a new position in shares of Sixth Street Specialty Lending in the fourth quarter valued at $1,035,000. Ameriprise Financial Inc. lifted its position in shares of Sixth Street Specialty Lending by 6.4% in the 4th quarter. Ameriprise Financial Inc. now owns 193,312 shares of the financial services provider's stock worth $4,118,000 after buying an additional 11,574 shares during the last quarter. Magnus Financial Group LLC bought a new position in shares of Sixth Street Specialty Lending in the 1st quarter worth about $322,000. Wells Fargo & Company MN lifted its position in shares of Sixth Street Specialty Lending by 2.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,183,141 shares of the financial services provider's stock worth $25,201,000 after buying an additional 33,026 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Sixth Street Specialty Lending in the 4th quarter worth about $17,488,000. Institutional investors and hedge funds own 70.25% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TSLX. Raymond James dropped their price objective on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Royal Bank of Canada increased their price objective on shares of Sixth Street Specialty Lending from $23.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Keefe, Bruyette & Woods increased their price objective on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Wells Fargo & Company lowered their target price on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Finally, Truist Financial raised their price objective on shares of Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Sixth Street Specialty Lending presently has an average rating of "Buy" and an average target price of $22.81.

Sixth Street Specialty Lending Stock Down 0.8%

Shares of TSLX stock traded down $0.18 during trading on Friday, hitting $23.32. 335,741 shares of the company were exchanged, compared to its average volume of 371,532. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 11.49 and a beta of 0.83. The business's 50-day simple moving average is $21.72 and its 200 day simple moving average is $21.83. Sixth Street Specialty Lending, Inc. has a twelve month low of $18.58 and a twelve month high of $23.75.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. The business had revenue of $113.92 billion during the quarter, compared to analysts' expectations of $116.70 million. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. During the same period last year, the company posted $0.52 earnings per share. As a group, analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 2nd will be given a $0.06 dividend. This represents a dividend yield of 9.21%. The ex-dividend date is Friday, May 30th. Sixth Street Specialty Lending's dividend payout ratio is 97.35%.

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.