Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Given Consensus Rating of “Hold” by Analysts

Shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) have received a consensus rating of “Hold” from the five brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $14.0625.

Several equities research analysts recently weighed in on NCDL shares. Wall Street Zen upgraded Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. UBS Group decreased their target price on Nuveen Churchill Direct Lending from $15.50 to $14.75 and set a “neutral” rating on the stock in a research report on Monday, May 18th. Wells Fargo & Company lowered shares of Nuveen Churchill Direct Lending from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $13.00 to $12.00 in a report on Friday, June 12th. Zacks Research upgraded Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Nuveen Churchill Direct Lending from $15.00 to $13.50 and set a “market perform” rating on the stock in a report on Monday.

Institutional Trading of Nuveen Churchill Direct Lending

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its position in shares of Nuveen Churchill Direct Lending by 190.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,400 shares of the company’s stock valued at $33,000 after acquiring an additional 1,573 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Nuveen Churchill Direct Lending during the third quarter worth about $38,000. NewEdge Advisors LLC raised its holdings in Nuveen Churchill Direct Lending by 33.0% during the 2nd quarter. NewEdge Advisors LLC now owns 4,511 shares of the company’s stock worth $73,000 after buying an additional 1,118 shares during the period. Quadrant Capital Group LLC acquired a new stake in shares of Nuveen Churchill Direct Lending during the third quarter worth $80,000. Finally, State of Wyoming acquired a new stake in shares of Nuveen Churchill Direct Lending in the 2nd quarter valued at about $108,000.

Nuveen Churchill Direct Lending Price Performance

NCDL opened at $12.60 on Friday. The company has a market capitalization of $622.51 million, a PE ratio of 13.27 and a beta of 0.51. The business has a 50-day moving average of $12.56 and a 200-day moving average of $13.15. Nuveen Churchill Direct Lending has a fifty-two week low of $11.97 and a fifty-two week high of $16.25.

Nuveen Churchill Direct Lending (NYSE:NCDL) last posted its earnings results on Thursday, August 6th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Nuveen Churchill Direct Lending had a net margin of 24.44% and a return on equity of 9.53%. The company had revenue of $11.14 million during the quarter, compared to the consensus estimate of $46.72 million. On average, equities research analysts expect that Nuveen Churchill Direct Lending will post 1.6 earnings per share for the current fiscal year.

Nuveen Churchill Direct Lending Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 27th. Investors of record on Wednesday, September 30th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.4%. Nuveen Churchill Direct Lending’s dividend payout ratio (DPR) is currently 151.58%.

About Nuveen Churchill Direct Lending

Nuveen Churchill Direct Lending (NYSE:NCDL) is a closed-end management investment company that seeks to provide shareholders with attractive risk-adjusted returns through a diversified portfolio of direct lending instruments. Established in early 2022, NCDL focuses on privately negotiated debt investments in middle-market companies, primarily within the United States. The fund offers investors access to a segment of the credit markets that has historically been less correlated with public debt markets, aiming to capture yield premiums associated with private lending.

The fund’s investment strategy centers on senior secured loans, unitranche financings and selectively structured mezzanine debt.