Nuveen Churchill Direct Lending Corp. (NCDL) to Distribute Quarterly Dividend of $0.36 on July 28th

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) announced a quarterly dividend on Wednesday, April 29th. Stockholders of record on Tuesday, June 30th will be given a dividend of 0.36 per share on Tuesday, July 28th. This represents a c) annualized dividend and a dividend yield of 11.3%. The ex-dividend date is Tuesday, June 30th.

Nuveen Churchill Direct Lending Stock Up 2.5%

NYSE:NCDL opened at $12.74 on Friday. The stock’s 50 day moving average price is $13.24 and its 200 day moving average price is $13.46. The company has a market capitalization of $629.43 million, a PE ratio of 10.62 and a beta of 0.50. Nuveen Churchill Direct Lending has a 52-week low of $11.97 and a 52-week high of $17.27.

Nuveen Churchill Direct Lending (NYSE:NCDL) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The firm had revenue of $17.15 million during the quarter, compared to analysts’ expectations of $47.79 million. Nuveen Churchill Direct Lending had a net margin of 29.56% and a return on equity of 9.80%. As a group, sell-side analysts anticipate that Nuveen Churchill Direct Lending will post 1.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NCDL shares. Zacks Research downgraded shares of Nuveen Churchill Direct Lending from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 26th. Truist Financial dropped their price objective on shares of Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Wall Street Zen cut shares of Nuveen Churchill Direct Lending from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Wells Fargo & Company downgraded shares of 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 note on Friday, June 12th. Finally, UBS Group lowered their price target on Nuveen Churchill Direct Lending from $15.50 to $14.75 and set a “neutral” rating on the stock in a report on Monday, May 18th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $14.44.

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.