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Nuveen Churchill Direct Lending Corp. ( (NCDL) ) has provided an update.
On February 26, 2026, Nuveen Churchill Direct Lending Corp. reported its full-year and fourth-quarter 2025 results, highlighting fourth-quarter net investment income of $0.44 per share and a slight decline in net asset value to $17.72, as unrealized losses offset realized gains. The board declared a first-quarter 2026 distribution of $0.40 per share, following a $0.45 per-share payout in January that produced a 10.1% annualized yield on fourth-quarter NAV, and the company emphasized portfolio resilience with only 0.5% of investments at fair value on non-accrual status.
For 2025, NCDL delivered nearly 11% return on equity and paid $1.90 per share in distributions, even as investment income fell to $207.9 million amid lower yields and a slightly smaller portfolio, and net expenses rose after higher management fees and the expiry of incentive fee waivers. The board also approved a $50 million share repurchase program in February 2026 to buy stock below NAV, signaling confidence in portfolio quality and capital allocation discipline, while maintaining ample liquidity with $62.5 million in cash, $259 million of revolver capacity, and a debt-to-equity ratio of 1.27 times at year-end 2025.
The most recent analyst rating on (NCDL) stock is a Hold with a $14.50 price target. To see the full list of analyst forecasts on Nuveen Churchill Direct Lending Corp. stock, see the NCDL Stock Forecast page.
Spark’s Take on NCDL Stock
According to Spark, TipRanks’ AI Analyst, NCDL is a Neutral.
The score is driven primarily by strong profitability and solid recent cash generation, tempered by meaningful leverage and weakening revenue. Technicals are notably weak (below key moving averages with negative MACD), while valuation is supportive (low P/E and high yield). The latest earnings call and refinancing are broadly constructive but mixed, reflecting stable credit quality with some near-term pressure in income and originations.
To see Spark’s full report on NCDL stock, click here.
More about Nuveen Churchill Direct Lending Corp.
Nuveen Churchill Direct Lending Corp. is a publicly listed business development company focused on providing primarily first-lien and subordinated debt financing to middle-market borrowers across a diversified set of 26 industries. Externally managed by Churchill DLC Advisor and sub-advised by Churchill Asset Management, it manages a $2.0 billion portfolio concentrated in income-producing credit instruments with a modest equity component.
Average Trading Volume: 301,874
Technical Sentiment Signal: Sell
Current Market Cap: $654.4M
For detailed information about NCDL stock, go to TipRanks’ Stock Analysis page.