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 6,809 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
575% more repeat investments, than reductions
Existing positions increased: 27 | Existing positions reduced: 4
183% more first-time investments, than exits
New positions opened: 17 | Existing positions closed: 6
157% more capital invested
Capital invested by funds: $81M [Q2] → $208M (+$127M) [Q3]
28% more funds holding
Funds holding: 39 [Q2] → 50 (+11) [Q3]
13.3% more ownership
Funds ownership: 8.45% [Q2] → 21.75% (+13.3%) [Q3]
Research analyst outlook
We haven’t received any recent analyst ratings for NCDL.
Financial journalist opinion
Based on 4 articles about NCDL published over the past 30 days
Positive
Seeking Alpha
1 week ago
Nuveen Churchill Direct Lending: 10.5% Yielding BDC In Our Buy Zone
Nuveen Churchill Direct Lending is a newly IPO'd BDC with strong fundamentals, trading at a 4.3% discount to NAV. NCDL boasts a diversified portfolio, heavily weighted towards first-lien loans (90.6%), positioning it well for economic volatility. Solid balance sheet with no near-term debt maturities and a leverage ratio below the sector median, indicating potential for growth.
Positive
Seeking Alpha
2 weeks ago
Nuveen Churchill Direct Lending: Why I Am Following Insider And Buying This BDC
Nuveen Churchill Direct Lending is a promising BDC with a market cap of $946M, offering an attractive 10.4% yield and a -4.9% NAV discount. Insider buying, including recent CEO share purchases, signals strong confidence in NCDL's near-term future and the potential for a BDC sector rebound. Despite being relatively unnoticed since its IPO, NCDL's portfolio has been meticulously developed by Nuveen, making it a compelling addition to a high-yield income portfolio.
Neutral
Seeking Alpha
3 weeks ago
Distribution/Dividend Coverage: Why It's Important And What Investors Need To Know
"Distribution Coverage" sounds very important and critical. So what is it? It involves identifying the cash flow sources of distributions from different types of closed-end funds, and how stable and predictable those sources appear to be. Credit funds and Equity funds have very different sources of distributions - some very stable and predictable, others more volatile.
Positive
Seeking Alpha
3 weeks ago
Nuveen Churchill Direct Lending: The Market Is Sleeping On This BDC
NCDL is a business development company, offering high income potential for its shareholders. Its portfolio is defensively structured with a high degree of diversification, first-lien exposure, and low non-accruals. NCDL's outstanding regular dividend coverage provides a wide margin of safety in the case of further interest rate cuts (sensitivity analysis provided).
Positive
Seeking Alpha
1 month ago
NCDL: Excellent Performance, Supported By IPO-Related Fee Waivers
We take a look at the BDC Nuveen Churchill Direct Lending (NCDL) Q3 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.
Neutral
Seeking Alpha
1 month ago
Nuveen Churchill Direct Lending Corp. (NCDL) Q3 2024 Earnings Call Transcript
Nuveen Churchill Direct Lending Corp. (NYSE:NCDL ) Q3 2024 Earnings Conference Call November 7, 2024 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 Brian Mckenna – Citizens Maxwell Fritscher – Truist Derek Hewett – Bank of America Paul Johnson – KBW Operator Welcome to Nuveen Churchill Direct Lending Corp.'s Third Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode.
Neutral
Business Wire
1 month ago
Nuveen Churchill Direct Lending Corp. Announces Third Quarter 2024 Results
NEW YORK--(BUSINESS WIRE)--Nuveen Churchill Direct Lending Corp. (NYSE: NCDL) (“NCDL” or the “Company”), a business development company externally managed by its investment adviser, Churchill DLC Advisor LLC (the “Adviser”), and by its sub-adviser, Churchill Asset Management LLC (“Churchill”), today reported financial results for the quarter ended September 30, 2024. Financial Highlights for the Quarter Ended September 30, 2024 Net investment income of $0.58 per share Net realized and unrealize.
Positive
Seeking Alpha
1 month ago
BDC Weekly Review: PSEC Doubles Down On Its Strategy
We take a look at the action in business development companies through the fourth week of October and highlight some of the key themes we are watching. BDCs underperformed this week but still outpaced the broader income market, with larger BDCs leading month-to-date performance. PSEC increased its preferred issuance cap to $2.5bn.
Neutral
Seeking Alpha
1 month ago
BDC Weekly Review: PIK Is At Record High
We take a look at the action in business development companies through the third week of October and highlight some of the key themes we are watching. BDCs had a strong week, rising over 1%, supported by reduced expectations of rate cuts. The rise in Payment-in-Kind (PIK) income, now at 7.5%, raises concerns about potential credit issues, though not all PIK is distress-related.
Neutral
Business Wire
2 months ago
Nuveen Churchill Direct Lending Corp. Schedules Third Quarter 2024 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 third quarter ended September 30, 2024, on Thursday, November 7, 2024, 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 approxim.
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