Sound Income Strategies LLC Has $57.29 Million Stake in Sixth Street Specialty Lending, Inc. $TSLX

Key Points

• Sound Income Strategies LLC increased its stake in Sixth Street Specialty Lending by 1.9% during the second quarter, owning approximately $57.29 million worth of shares, making it the firm's largest position.
• Analysts have set new price targets for Sixth Street Specialty Lending, with Wells Fargo raising its target from $21.00 to $24.00, and JMP Securities increasing its target from $24.00 to $25.00.
• The company declared a quarterly dividend of $0.05 per share, representing an annualized yield of 0.9%, with a dividend payout ratio of 91.54%.

Sound Income Strategies LLC grew its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,406,296 shares of the financial services provider's stock after purchasing an additional 45,157 shares during the quarter. Sixth Street Specialty Lending comprises about 3.3% of Sound Income Strategies LLC's portfolio, making the stock its biggest position. Sound Income Strategies LLC owned approximately 2.56% of Sixth Street Specialty Lending worth $57,294,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Strs Ohio acquired a new position in Sixth Street Specialty Lending in the first quarter valued at approximately $79,698,000. Burgundy Asset Management Ltd. boosted its position in shares of Sixth Street Specialty Lending by 7.0% during the 1st quarter. Burgundy Asset Management Ltd. now owns 2,347,046 shares of the financial services provider's stock worth $52,527,000 after purchasing an additional 154,560 shares in the last quarter. Allen Investment Management LLC grew its stake in shares of Sixth Street Specialty Lending by 24.4% in the 1st quarter. Allen Investment Management LLC now owns 1,434,920 shares of the financial services provider's stock valued at $32,114,000 after buying an additional 281,339 shares during the period. LSV Asset Management grew its stake in shares of Sixth Street Specialty Lending by 3.9% in the 1st quarter. LSV Asset Management now owns 1,177,111 shares of the financial services provider's stock valued at $26,344,000 after buying an additional 44,449 shares during the period. Finally, Raymond James Financial Inc. increased its position in Sixth Street Specialty Lending by 1.2% in the 1st quarter. Raymond James Financial Inc. now owns 831,261 shares of the financial services provider's stock valued at $18,604,000 after buying an additional 10,221 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TSLX. Wells Fargo & Company increased their price target on Sixth Street Specialty Lending from $21.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. JMP Securities raised their price objective on shares of Sixth Street Specialty Lending from $24.00 to $25.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $23.28.

Sixth Street Specialty Lending Price Performance

TSLX opened at $22.79 on Monday. Sixth Street Specialty Lending, Inc. has a 1 year low of $18.58 and a 1 year high of $25.17. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.79 and a quick ratio of 3.79. The firm's fifty day moving average price is $24.03 and its two-hundred day moving average price is $22.91. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 11.34 and a beta of 0.85.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.03. The firm had revenue of $115.00 million for the quarter, compared to the consensus estimate of $110.42 million. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 39.56%.During the same quarter in the previous year, the business earned $0.58 EPS. As a group, analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, September 15th. This represents a $0.20 annualized dividend and a yield of 0.9%. Sixth Street Specialty Lending's dividend payout ratio is presently 91.54%.

Sixth Street Specialty Lending Company 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.

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