Nuveen Churchill Direct LendingNCDL
NCDL
About: Nuveen Churchill Direct Lending Corp is a specialty finance company focused predominantly on investing in senior secured loans to private equity-owned U.S. middle market companies. It invest in senior secured loans that typically pay floating interest rates and are senior in the capital structure to junior debt and equity.
0
Funds holding %
of 7,425 funds
0
Analysts bullish %
of 3 analysts
Fund manager confidence
Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)
1,550% more first-time investments, than exits
New positions opened: 33 | Existing positions closed: 2
850% more repeat investments, than reductions
Existing positions increased: 38 | Existing positions reduced: 4
60% more funds holding
Funds holding: 50 [Q3] → 80 (+30) [Q4]
29% more capital invested
Capital invested by funds: $208M [Q3] → $269M (+$60.8M) [Q4]
7.61% more ownership
Funds ownership: 21.75% [Q3] → 29.36% (+7.61%) [Q4]
0% more funds holding in top 10
Funds holding in top 10: 1 [Q3] → 1 (+0) [Q4]
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$15
5%
downside
Avg. target
$16.08
2%
upside
High target
$17
8%
upside
3 analyst ratings
0 positive
0%
3 neutral
100%
0 negative
0%
Wells Fargo Finian O'Shea 63% 1-year accuracy 38 / 60 met price target | 5%downside $15 | Equal-Weight Maintained | 28 Apr 2025 |
UBS Vilas Abraham 0 / 0 met price target | 3%upside $16.25 | Neutral Maintained | 17 Apr 2025 |
Keefe, Bruyette & Woods Ryan Lynch 33% 1-year accuracy 1 / 3 met price target | 8%upside $17 | Market Perform Maintained | 8 Apr 2025 |
Financial journalist opinion
Based on 4 articles about NCDL published over the past 30 days
Positive
Seeking Alpha
5 days ago
Nuveen Churchill Direct Lending: Ridiculously Cheap Given Its Quality
Nuveen Churchill Direct Lending Corp. is a strong BDC pick, with a rock-solid portfolio and significant focus on first-lien debt investments. NCDL's portfolio includes 210 companies with an average EBITDA of $78m, indicating market-tested enterprises with strong competitive positions. Despite rising liquidity issues, NCDL's 90.6% first-lien debt investments and outstanding diversification mitigate risks and highlight its defensive orientation.
Neutral
Business Wire
2 weeks ago
Nuveen Churchill Direct Lending Corp. Schedules First Quarter 2025 Earnings Release and Conference Call
NEW YORK--(BUSINESS WIRE)--Nuveen Churchill Direct Lending Corp. (NYSE: NCDL) (“NCDL” or “the Company”), today announced it will report its financial results for the first quarter ended March 31, 2025, on Thursday, May 8, 2025, before the market opens. The Company will host an earnings conference call and public webcast at 11:00 AM Eastern Time the same day to discuss its financial results. All interested parties may participate in the conference call by dialing (866)-605-1826 approximately 10-.
Negative
Seeking Alpha
2 weeks ago
BDC Weekly Review: BDCs Plunge On Macro Fears
We take a look at the action in business development companies through the first week of April and highlight some of the key themes we are watching. BDCs faced significant losses, with average returns around -9% on the week with valuations dropping below historical averages. Valuation uncertainty is high due to quarterly NAV declarations and systemic/idiosyncratic factors; estimated NAV drops are 2-3% from Q4 levels.
Neutral
Seeking Alpha
4 weeks ago
Nuveen Churchill Direct Lending: Underrated BDC, But Could Face Selling Pressure
Nuveen Churchill Direct Lending delivered a solid performance in 2024, growing both net and total investment income year-over-year despite a slight decline in the bottom line per share. NCDL's portfolio saw significant growth with $950 million deployed, focusing on first-lien investments and maintaining strong credit quality with minimal non-accruals. Despite a slight increase in leverage, NCDL's balance sheet remains robust, with no near-term debt maturities, strong liquidity, and strategic share repurchases.
Positive
Seeking Alpha
1 month ago
My BDC Portfolio And The Strategy For Alpha Going Forward
This is my first BDC portfolio monthly performance review article. The good news is that the portfolio has done its job, outperforming the two BDC benchmarks - PBDC and BIZD. Yet, on an absolute basis, the portfolio is slightly down.
Negative
Seeking Alpha
1 month ago
BDC Weekly Review: A Mystery On The Horizon
We take a look at the action in business development companies through the first week of March and highlight some of the key themes we are watching. BDCs had a tough week despite a strong finish on the back of increased market volatility and worsening risk sentiment. Horizon Tech Finance delivered a negative 3.5% total NAV return in Q4, continuing its trend of underperformance, yet it trades at a premium.
Positive
Seeking Alpha
1 month ago
Nuveen Churchill Direct Lending: Q4 Outperformance As Fee Waivers Drive High Income
We take a look at the BDC Nuveen Churchill Direct Lending Q4 results. NCDL trades at a 13.1% dividend yield and a 7% discount to book. The company's portfolio focuses on the tech and healthcare sectors, with an above-average first-lien portfolio and strong diversification across 202 positions.
Negative
Seeking Alpha
1 month ago
Nuveen Churchill Direct Lending: The Market Has Started To Recognize Value, Here Is How To Play It
My thesis on Nuveen Churchill Direct Lending has started to play out nicely. NCDL has managed to register a decent alpha right in the moment when the BDC has been subject to elevated volatility. Considering the Q4 2024 report and the current BDC market environment, I remain long on NCDL. Yet, the long-term return prospects have weakened a bit.
Negative
Seeking Alpha
1 month ago
The Moment Of Truth For BDC Dividend Investors Is Close
As a structural BDC bull I have to admit that the period of BDCs consistently surprising us on the upside has come to an end. Many lower quality BDCs have already cut their dividends to sync their cash flows with less favorable private credit lending environment. I would say that the moment of truth for high quality BDCs is also very close, where we will see how really durable their base dividends are.
Neutral
Seeking Alpha
2 months ago
Nuveen Churchill Direct Lending Corp. (NCDL) Q4 2024 Earnings Call Transcript
Nuveen Churchill Direct Lending Corp. (NYSE:NCDL ) Q4 2024 Results Conference Call February 27, 2025 11:00 AM ET Company Participants Robert Paun - Head-Investor Relations Ken Kencel - Chairman, President and Chief Executive Officer Shai Vichness - Chief Financial Officer Conference Call Participants Doug Harter - UBS Mark Hughes - Truist Securities Operator Welcome to Nuveen Churchill Direct Lending Corp. Fourth Quarter and Full Year 2024 Earnings Call. [Operator Instructions] As a reminder, this conference call is being recorded for replay purposes.
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