IFP Advisors Inc Cuts Holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

IFP Advisors Inc cut its position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 1.3% during the 4th quarter, Holdings Channel reports. The firm owned 126,418 shares of the financial services provider’s stock after selling 1,678 shares during the quarter. IFP Advisors Inc’s holdings in Sixth Street Specialty Lending were worth $2,693,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Vermont purchased a new position in Sixth Street Specialty Lending during the fourth quarter worth about $39,000. First Horizon Advisors Inc. boosted its stake in Sixth Street Specialty Lending by 25.3% in the fourth quarter. First Horizon Advisors Inc. now owns 2,302 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 465 shares during the last quarter. Quarry LP boosted its stake in Sixth Street Specialty Lending by 378.3% in the third quarter. Quarry LP now owns 4,094 shares of the financial services provider’s stock valued at $84,000 after acquiring an additional 3,238 shares during the last quarter. EMC Capital Management boosted its stake in Sixth Street Specialty Lending by 92.5% in the fourth quarter. EMC Capital Management now owns 6,747 shares of the financial services provider’s stock valued at $144,000 after acquiring an additional 3,242 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC purchased a new position in Sixth Street Specialty Lending in the fourth quarter valued at about $207,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Sixth Street Specialty Lending Stock Performance

NYSE TSLX opened at $23.22 on Wednesday. The company’s 50 day moving average is $21.80 and its 200-day moving average is $21.14. Sixth Street Specialty Lending, Inc. has a 12-month low of $19.50 and a 12-month high of $23.66. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.18. The firm has a market cap of $2.17 billion, a P/E ratio of 11.44 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate 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 issued a dividend of $0.07 per share. This represents a yield of 7.06%. The ex-dividend date is Friday, February 28th. This is a positive change from Sixth Street Specialty Lending’s previous dividend of $0.05. Sixth Street Specialty Lending’s dividend payout ratio is 90.64%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TSLX shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods boosted 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 note on Tuesday, February 18th. Wells Fargo & Company boosted their target price on shares of Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. LADENBURG THALM/SH SH cut shares of Sixth Street Specialty Lending from a “buy” rating to a “neutral” rating in a research note on Friday, February 14th. Finally, Truist Financial boosted 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 note on Tuesday, February 18th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.79.

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.