Atria Wealth Solutions Inc. Trims Stock Holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Atria Wealth Solutions Inc. decreased its holdings in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 27.4% during the fourth quarter, HoldingsChannel reports. The fund owned 13,195 shares of the financial services provider’s stock after selling 4,985 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Sixth Street Specialty Lending were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TSLX. Strs Ohio lifted its holdings in Sixth Street Specialty Lending by 2.6% during the 4th quarter. Strs Ohio now owns 3,134,865 shares of the financial services provider’s stock worth $67,713,000 after purchasing an additional 79,180 shares in the last quarter. Burgundy Asset Management Ltd. lifted its holdings in shares of Sixth Street Specialty Lending by 1.2% in the third quarter. Burgundy Asset Management Ltd. now owns 1,994,679 shares of the financial services provider’s stock worth $40,771,000 after buying an additional 22,731 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of Sixth Street Specialty Lending by 8.1% in the fourth quarter. Sound Income Strategies LLC now owns 1,989,678 shares of the financial services provider’s stock valued at $42,977,000 after acquiring an additional 148,290 shares during the period. Van ECK Associates Corp grew its stake in Sixth Street Specialty Lending by 7.1% during the third quarter. Van ECK Associates Corp now owns 1,446,198 shares of the financial services provider’s stock valued at $29,560,000 after acquiring an additional 95,269 shares in the last quarter. Finally, Callodine Capital Management LP grew its stake in Sixth Street Specialty Lending by 5.6% during the third quarter. Callodine Capital Management LP now owns 1,410,030 shares of the financial services provider’s stock valued at $28,821,000 after acquiring an additional 75,000 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on TSLX. Wells Fargo & Company raised their price target on shares of Sixth Street Specialty Lending from $21.00 to $22.50 and gave the company an “overweight” rating in a report on Monday, January 29th. Truist Financial boosted their target price on Sixth Street Specialty Lending from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $22.50 price target on shares of Sixth Street Specialty Lending in a report on Tuesday, March 26th. Royal Bank of Canada lifted their price target on Sixth Street Specialty Lending from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Sixth Street Specialty Lending from $23.50 to $23.00 and set an “outperform” rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.67.

Sixth Street Specialty Lending Stock Performance

Shares of NYSE TSLX opened at $21.22 on Thursday. The stock’s 50-day moving average is $21.07 and its 200 day moving average is $21.15. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 8.55 and a beta of 1.03. Sixth Street Specialty Lending, Inc. has a 1-year low of $17.31 and a 1-year high of $22.35. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.14.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Friday, February 16th. The financial services provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. The firm had revenue of $119.50 million for the quarter, compared to the consensus estimate of $115.18 million. Sixth Street Specialty Lending had a net margin of 47.16% and a return on equity of 13.74%. During the same period last year, the firm posted $0.65 earnings per share. On average, sell-side analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.35 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, May 31st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, May 31st. Sixth Street Specialty Lending’s dividend payout ratio is presently 74.19%.

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.