Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Stock Has Average Price Target of $13.62 According to Analysts

Shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) have earned a consensus rating of “Hold” from the five research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $13.62.

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

Nuveen Churchill Direct Lending Stock Performance

Shares of NYSE NCDL opened at $10.80 on Friday. Nuveen Churchill Direct Lending has a 52-week low of $10.54 and a 52-week high of $15.07. The business has a fifty day moving average of $12.08 and a two-hundred day moving average of $12.73. The stock has a market cap of $533.41 million, a PE ratio of 11.37 and a beta of 0.55.

Nuveen Churchill Direct Lending (NYSE:NCDL) last posted its earnings results on Thursday, August 6th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $11.14 million for the quarter, compared to analyst estimates of $46.72 million. Nuveen Churchill Direct Lending had a net margin of 24.44% and a return on equity of 9.60%. Analysts predict that Nuveen Churchill Direct Lending will post 1.60 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 paid 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 yield of 13.3%. Nuveen Churchill Direct Lending’s payout ratio is currently 151.58%.

Institutional Trading of Nuveen Churchill Direct Lending

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Closed End Fund Advisors Inc. bought a new position in Nuveen Churchill Direct Lending in the 4th quarter worth approximately $7,374,000. Hennion & Walsh Asset Management Inc. increased its holdings in Nuveen Churchill Direct Lending by 2.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 442,680 shares of the company’s stock valued at $5,498,000 after purchasing an additional 12,646 shares during the last quarter. Centurion Wealth Management LLC bought a new stake in Nuveen Churchill Direct Lending in the second quarter valued at about $3,879,000. Bulldog Investors LLP lifted its stake in Nuveen Churchill Direct Lending by 29.6% in the first quarter. Bulldog Investors LLP now owns 224,822 shares of the company’s stock valued at $2,860,000 after buying an additional 51,410 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Nuveen Churchill Direct Lending by 454.3% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 150,476 shares of the company’s stock worth $2,007,000 after buying an additional 123,327 shares during the last quarter.

About Nuveen Churchill Direct Lending

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) is a business development company that seeks to generate current income and, to a lesser extent, long-term capital appreciation by investing in privately owned middle-market companies. The company primarily focuses on directly originated loans and other debt investments rather than publicly traded securities.

NCDL generally invests in senior-secured loans, including first-lien and unitranche loans, and may make select junior debt and equity investments.