Gilman Hill Asset Management LLC Grows Holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Gilman Hill Asset Management LLC grew its position in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 382.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 446,976 shares of the financial services provider’s stock after acquiring an additional 354,320 shares during the quarter. Sixth Street Specialty Lending comprises approximately 1.7% of Gilman Hill Asset Management LLC’s holdings, making the stock its 11th largest holding. Gilman Hill Asset Management LLC’s holdings in Sixth Street Specialty Lending were worth $10,003,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TSLX. BNP Paribas Financial Markets purchased a new position in shares of Sixth Street Specialty Lending during the fourth quarter valued at $1,035,000. Ameriprise Financial Inc. raised its stake in shares of Sixth Street Specialty Lending by 6.4% during the 4th quarter. Ameriprise Financial Inc. now owns 193,312 shares of the financial services provider’s stock worth $4,118,000 after buying an additional 11,574 shares during the period. Wells Fargo & Company MN increased its position in shares of Sixth Street Specialty Lending by 2.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,183,141 shares of the financial services provider’s stock worth $25,201,000 after purchasing an additional 33,026 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Sixth Street Specialty Lending during the fourth quarter worth approximately $17,488,000. Finally, Baillie Gifford & Co. grew its holdings in Sixth Street Specialty Lending by 72.5% in the 4th quarter. Baillie Gifford & Co. now owns 306,429 shares of the financial services provider’s stock valued at $6,527,000 after buying an additional 128,763 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TSLX has been the topic of several research reports. Wells Fargo & Company decreased their target price on Sixth Street Specialty Lending from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Truist Financial raised their price target on Sixth Street Specialty Lending from $23.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. B. Riley started coverage on Sixth Street Specialty Lending in a research report on Tuesday, May 13th. They issued a “buy” rating and a $23.00 price objective for the company. Keefe, Bruyette & Woods upped their target price on Sixth Street Specialty Lending from $21.50 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada increased their price target on Sixth Street Specialty Lending from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Sixth Street Specialty Lending currently has an average rating of “Buy” and a consensus target price of $22.81.

Sixth Street Specialty Lending Price Performance

Shares of NYSE TSLX opened at $23.27 on Thursday. Sixth Street Specialty Lending, Inc. has a twelve month low of $18.58 and a twelve month high of $23.67. The business’s 50 day moving average price is $21.39 and its two-hundred day moving average price is $21.68. 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 company has a market cap of $2.19 billion, a PE ratio of 11.46 and a beta of 0.82.

Sixth Street Specialty Lending (NYSE:TSLX) last released its earnings results on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 38.67%. The firm had revenue of $113.92 billion during the quarter, compared to analysts’ expectations of $116.70 million. During the same period in the prior year, the company earned $0.52 earnings per share. On average, analysts predict that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a dividend yield of 9.21%. Sixth Street Specialty Lending’s dividend payout ratio is currently 97.35%.

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.