Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Receives $13.62 Consensus Price Target from Brokerages

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) has received an average recommendation of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $13.6250.

NCDL has been the topic of a number of research analyst reports. Wells Fargo & Company downgraded Nuveen Churchill Direct Lending from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $13.00 to $12.00 in a research report on Friday, June 12th. Wall Street Zen raised Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. UBS Group raised Nuveen Churchill Direct Lending from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $14.75 to $13.00 in a report on Tuesday, September 1st. Keefe, Bruyette & Woods lowered their target price on Nuveen Churchill Direct Lending from $15.00 to $13.50 and set a “market perform” rating for the company in a research report on Monday, August 10th. Finally, Zacks Research raised shares of Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st.

Nuveen Churchill Direct Lending Price Performance

Shares of NCDL opened at $12.13 on Tuesday. The firm has a market cap of $599.35 million, a P/E ratio of 12.77 and a beta of 0.52. Nuveen Churchill Direct Lending has a 1 year low of $11.97 and a 1 year high of $15.40. The company has a 50 day simple moving average of $12.48 and a two-hundred day simple moving average of $12.96.

Nuveen Churchill Direct Lending (NYSE:NCDL) last released 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. The firm had revenue of $11.14 million for the quarter, compared to the consensus estimate of $46.72 million. Nuveen Churchill Direct Lending had a net margin of 24.44% and a return on equity of 9.60%. On average, sell-side analysts anticipate that Nuveen Churchill Direct Lending will post 1.6 earnings per share for the current year.

Nuveen Churchill Direct Lending Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 27th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.36 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.44 annualized dividend and a yield of 11.9%. Nuveen Churchill Direct Lending’s dividend payout ratio (DPR) is 151.58%.

Hedge Funds Weigh In On Nuveen Churchill Direct Lending

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new stake in shares of Nuveen Churchill Direct Lending during the 2nd quarter valued at about $152,000. Cresset Asset Management LLC raised its position in Nuveen Churchill Direct Lending by 17.6% during the second quarter. Cresset Asset Management LLC now owns 36,025 shares of the company’s stock valued at $599,000 after purchasing an additional 5,391 shares during the period. NewEdge Advisors LLC lifted 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 last quarter. Sei Investments Co. lifted its stake in shares of Nuveen Churchill Direct Lending by 11.4% in the 2nd quarter. Sei Investments Co. now owns 18,678 shares of the company’s stock valued at $302,000 after purchasing an additional 1,918 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Nuveen Churchill Direct Lending by 41.2% in the 2nd quarter. Bank of America Corp DE now owns 86,036 shares of the company’s stock worth $1,393,000 after purchasing an additional 25,106 shares during the period.

Nuveen Churchill Direct Lending Company Profile

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.