Nuveen Churchill Direct Lending (NYSE:NCDL) Stock Gets Price Target Trim from Keefe, Bruyette & Woods

Nuveen Churchill Direct Lending (NYSE:NCDL) had its price objective trimmed by Keefe, Bruyette & Woods from $13.50 to $13.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

Several other equities research analysts have also issued reports on NCDL. Wall Street Zen upgraded shares of Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $11.00 price objective on shares of Nuveen Churchill Direct Lending in a research note on Wednesday. Zacks Research raised shares of Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, UBS Group upgraded Nuveen Churchill Direct Lending from a “neutral” rating to a “buy” rating and decreased their price target for the company from $14.75 to $13.00 in a research report on Tuesday, September 1st. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Nuveen Churchill Direct Lending presently has an average rating of “Hold” and an average target price of $13.25.

Nuveen Churchill Direct Lending Stock Down 1.0%

NCDL opened at $11.81 on Wednesday. The business has a fifty day simple moving average of $11.49 and a 200-day simple moving average of $12.71. The firm has a market cap of $583.30 million, a P/E ratio of 13.27 and a beta of 0.55. Nuveen Churchill Direct Lending has a 52 week low of $10.31 and a 52 week high of $15.07.

Nuveen Churchill Direct Lending (NYSE:NCDL) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The business had revenue of $43.67 million for the quarter, compared to analyst estimates of $43.72 million. Nuveen Churchill Direct Lending had a net margin of 24.44% and a return on equity of 9.60%. Sell-side analysts expect that Nuveen Churchill Direct Lending will post 1.62 earnings per share for the current year.

Nuveen Churchill Direct Lending Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 28th. Shareholders of record on Thursday, December 31st will be paid a dividend of $0.02 per share. This is a drop from Nuveen Churchill Direct Lending’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $0.08 annualized dividend and a yield of 0.7%. Nuveen Churchill Direct Lending’s dividend payout ratio is presently 161.80%.

Hedge Funds Weigh In On Nuveen Churchill Direct Lending

A number of hedge funds have recently added to or reduced their stakes in the business. AlphaCore Capital LLC acquired a new position in Nuveen Churchill Direct Lending during the third quarter valued at approximately $120,000. Park Avenue Securities LLC purchased a new position in Nuveen Churchill Direct Lending during the 3rd quarter worth $151,000. NewGen Asset Management Ltd bought a new position in shares of Nuveen Churchill Direct Lending in the first quarter worth $355,000. Lido Advisors LLC raised its stake in Nuveen Churchill Direct Lending by 19.9% in the first quarter. Lido Advisors LLC now owns 53,788 shares of the company’s stock worth $705,000 after buying an additional 8,932 shares in the last quarter. Finally, Confluence Investment Management LLC lifted its position in Nuveen Churchill Direct Lending by 2.6% during the third quarter. Confluence Investment Management LLC now owns 70,694 shares of the company’s stock valued at $795,000 after purchasing an additional 1,787 shares during the period.

Nuveen Churchill Direct Lending Company Profile

Nuveen Churchill Direct Lending Corp. (NYSE: NCDL) is a closed-end investment company that has elected to be regulated as a business development company. The company provides financing to privately owned, primarily U.S.-based middle-market businesses.

NCDL invests mainly in senior secured loans and other debt investments, with a focus on companies that may have limited access to traditional bank financing. Its portfolio may also include unitranche loans, subordinated debt and, to a lesser extent, equity or equity-related investments.