Morgan Stanley Direct Lending Fund (MSDL) — Dividend Yield, NAV & Valuation Analysis
MSDL · NASDAQ
Trade MSDL Commission-Free
Analyze real-time metrics for Morgan Stanley Direct Lending Fund and execute trades with our top-rated institutional partner platforms.
Overview
Morgan Stanley Direct Lending Fund is an externally managed BDC advised by Morgan Stanley Senior Funding, Inc., providing senior secured first lien and unitranche loans to U.S. middle-market companies. MSDL leverages the global platform of Morgan Stanley Investment Management Private Credit platform and predominately originates floating-rate first lien instruments to borrowers with EBITDA between $5 million and $50 million.
Key Metrics
| Metric | Value |
|---|---|
| 1-Year Total Return | 10.1% |
| 3-Year Total Return | 21.4% |
| 5-Year Total Return | 27.2% |
| Expense Ratio | 8.7% |
| Leverage Ratio | 1.18x |
| Portfolio Companies | 130 |
| Total Assets | $1.7B |
Discount / Premium to NAV
| Stock Price | $15.6 |
| NAV per Share | $19.8 |
| Premium / (Discount) to NAV | -21.2% |
| Implied per-share NAV gap | $4.2 |
The premium / discount to NAV compares the current stock price to the per-share net asset value of Morgan Stanley Direct Lending Fund's investment portfolio. A negative reading (a discount) means the market is pricing MSDL below the value of its underlying assets and is one of the most-watched valuation metrics for any BDC. A positive reading (a premium) means the market is paying a premium over the stated NAV, often reflecting confidence in future dividend coverage and portfolio credit quality. Morgan Stanley Direct Lending Fund currently trades at a -21.2% discount to NAV.
Investment Strategy
Morgan Stanley Direct Lending Fund focuses on senior secured loans, unitranche debt, mezzanine debt in the technology, healthcare, business services, industrials sectors. The company targets lower middle-market companies and maintains a portfolio of 130 investments totaling $1.7B in assets.
Management
CEO: Robert S. | Employees: 50
Suitability
MSDL is suitable for income-focused investors seeking quarterly dividend income with a 11.6% yield. The BDC's focus on senior secured loans provides defensive portfolio characteristics. Investors should consider their risk tolerance and investment objectives before investing.