IFP Advisors Inc Sells 1,678 Shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

IFP Advisors Inc decreased its position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,418 shares of the financial services provider’s stock after selling 1,678 shares during the period. IFP Advisors Inc owned about 0.14% of Sixth Street Specialty Lending worth $2,693,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Van ECK Associates Corp boosted its position in shares of Sixth Street Specialty Lending by 4.5% during the 4th quarter. Van ECK Associates Corp now owns 2,393,069 shares of the financial services provider’s stock worth $50,972,000 after acquiring an additional 103,634 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of Sixth Street Specialty Lending by 5.6% during the 4th quarter. Sound Income Strategies LLC now owns 2,305,372 shares of the financial services provider’s stock worth $49,104,000 after acquiring an additional 122,312 shares in the last quarter. Progeny 3 Inc. boosted its position in Sixth Street Specialty Lending by 10.6% in the third quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider’s stock valued at $46,249,000 after buying an additional 215,996 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Sixth Street Specialty Lending by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 1,175,388 shares of the financial services provider’s stock valued at $24,131,000 after buying an additional 162,810 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in Sixth Street Specialty Lending by 1.1% in the third quarter. Two Sigma Advisers LP now owns 867,286 shares of the financial services provider’s stock valued at $17,805,000 after buying an additional 9,700 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. LADENBURG THALM/SH SH lowered shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods raised their target price on shares of Sixth Street Specialty Lending from $21.50 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. raised their target price on shares of Sixth Street Specialty Lending from $22.50 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Finally, Truist Financial raised their target price 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 equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.79.

Sixth Street Specialty Lending Price Performance

Shares of NYSE:TSLX opened at $23.22 on Wednesday. The firm has a market cap of $2.17 billion, a PE ratio of 11.44 and a beta of 1.06. The firm’s fifty day moving average is $21.80 and its 200-day moving average is $21.14. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.90 and a current ratio of 1.90. Sixth Street Specialty Lending, Inc. has a 52 week low of $19.50 and a 52 week high of $23.66.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $123.70 million for the quarter, compared to analyst estimates of $120.07 million. Sixth Street Specialty Lending had a net margin of 38.67% and a return on equity of 13.47%. Sell-side analysts predict that Sixth Street Specialty Lending, Inc. will post 2.19 earnings per share for the current year.

Sixth Street Specialty Lending Increases Dividend

The company also recently announced a dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 3rd will be paid a dividend of $0.07 per share. This represents a yield of 7.06%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Sixth Street Specialty Lending’s previous dividend of $0.05. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 90.64%.

About Sixth Street Specialty Lending

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.