Sound Income Strategies LLC Decreases Stock Position in Sixth Street Specialty Lending, Inc. $TSLX

Sound Income Strategies LLC reduced its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 7.6% in the third quarter, HoldingsChannel.com reports. The fund owned 2,500,571 shares of the financial services provider’s stock after selling 205,719 shares during the quarter. Sixth Street Specialty Lending accounts for approximately 1.0% of Sound Income Strategies LLC’s portfolio, making the stock its 8th largest position. Sound Income Strategies LLC’s holdings in Sixth Street Specialty Lending were worth $43,935,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Sixth Street Specialty Lending during the second quarter worth about $7,484,000. Melia Wealth LLC bought a new stake in Sixth Street Specialty Lending in the 2nd quarter worth approximately $8,350,000. Lazard Asset Management LLC purchased a new stake in Sixth Street Specialty Lending in the first quarter worth approximately $2,809,000. Bank of America Corp DE bought a new position in Sixth Street Specialty Lending during the second quarter valued at approximately $13,126,000. Finally, Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Sixth Street Specialty Lending during the second quarter worth approximately $3,017,000. Institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Trading Down 1.3%

Shares of NYSE:TSLX traded down $0.23 during midday trading on Friday, hitting $17.34. 649,688 shares of the stock traded hands, compared to its average volume of 736,614. The company has a quick ratio of 9.83, a current ratio of 9.83 and a debt-to-equity ratio of 1.24. The business’s 50 day moving average is $18.28 and its two-hundred day moving average is $17.86. The stock has a market capitalization of $1.65 billion, a PE ratio of 18.25 and a beta of 0.62. Sixth Street Specialty Lending, Inc. has a one year low of $16.04 and a one year high of $23.19.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The company had revenue of $97.84 million for the quarter, compared to the consensus estimate of $95.28 million. Sixth Street Specialty Lending had a return on equity of 11.33% and a net margin of 21.79%.During the same quarter in the previous year, the business earned $0.56 EPS. As a group, research analysts forecast that Sixth Street Specialty Lending, Inc. will post 1.74 earnings per share for the current year.

Sixth Street Specialty Lending Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date was Tuesday, September 15th. Sixth Street Specialty Lending’s dividend payout ratio is currently 176.84%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TSLX. Zacks Research raised shares of Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Wall Street Zen upgraded shares of Sixth Street Specialty Lending from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. 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 report on Monday, August 10th. Weiss Ratings cut Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Finally, JPMorgan Chase & Co. decreased 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 note on Thursday, July 2nd. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.83.

Sixth Street Specialty Lending Profile

Sixth Street Specialty Lending, Inc (NYSE:TSLX) is a business development company (BDC) that provides financing to established middle-market companies. The company primarily invests in privately originated debt, including first-lien senior secured loans, second-lien loans, subordinated debt and other credit investments. It may also make select equity investments in connection with its lending activities.

Sixth Street Specialty Lending generally focuses on companies with experienced management teams, strong market positions and established operating histories.