Nuveen Churchill Direct Lending (NYSE:NCDL) Given New $16.00 Price Target at Truist Financial

Nuveen Churchill Direct Lending (NYSE:NCDL) had its price target trimmed by Truist Financial from $18.00 to $16.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also issued reports on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Nuveen Churchill Direct Lending from $16.00 to $15.00 and set a “market perform” rating on the stock in a research report on Friday, February 27th. Wall Street Zen lowered shares of Nuveen Churchill Direct Lending from a “hold” rating to a “sell” rating in a research report on Monday. Wells Fargo & Company dropped their price objective on shares of Nuveen Churchill Direct Lending from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Finally, Zacks Research raised Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.40.

Nuveen Churchill Direct Lending Price Performance

NYSE NCDL opened at $13.37 on Wednesday. Nuveen Churchill Direct Lending has a twelve month low of $12.54 and a twelve month high of $17.59. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.85 and a current ratio of 1.85. The stock has a market capitalization of $660.34 million, a PE ratio of 10.21 and a beta of 0.44. The stock has a 50-day simple moving average of $13.57 and a 200 day simple moving average of $14.27.

Nuveen Churchill Direct Lending (NYSE:NCDL) last released its earnings results on Thursday, February 26th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Nuveen Churchill Direct Lending had a return on equity of 10.48% and a net margin of 31.57%.The firm had revenue of $26.36 million for the quarter, compared to analyst estimates of $49.60 million. Research analysts anticipate that Nuveen Churchill Direct Lending will post 2.28 EPS for the current year.

Nuveen Churchill Direct Lending Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, March 31st will be paid a $0.36 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.8%. Nuveen Churchill Direct Lending’s dividend payout ratio is currently 137.40%.

Institutional Trading of Nuveen Churchill Direct Lending

Several institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its position in Nuveen Churchill Direct Lending by 190.2% in the third quarter. BNP Paribas Financial Markets now owns 2,400 shares of the company’s stock worth $33,000 after purchasing an additional 1,573 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Nuveen Churchill Direct Lending during the third quarter valued at approximately $38,000. NewEdge Advisors LLC grew its stake in shares of Nuveen Churchill Direct Lending by 33.0% in the 2nd quarter. NewEdge Advisors LLC now owns 4,511 shares of the company’s stock valued at $73,000 after purchasing an additional 1,118 shares during the period. Quadrant Capital Group LLC acquired a new position in shares of Nuveen Churchill Direct Lending in the 3rd quarter worth approximately $80,000. Finally, Global Retirement Partners LLC bought a new position in shares of Nuveen Churchill Direct Lending during the 3rd quarter worth approximately $85,000.

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.