Morgan Stanley Direct Lending Q4 net investment income dips q-o-q

Morgan Stanley Direct Lending Fund

26/02/2026 21:40

Overview

Specialty finance firm's Q4 net investment income slightly decreased from previous quarter

Net asset value per share declined to $20.26 as of Dec. 31, 2025 from $20.41 as of Sept. 30, 2025

Company launched Capstone Lending LLC joint venture with significant capital commitments

Outlook

Company declares first-quarter 2026 regular dividend of $0.45 per share

Result Drivers

LOWER BASE RATES - Total investment income decreased due to lower base rates, partially offset by repayment-related income

INCENTIVE FEE CAP - Reduction in incentive fees led to decreased net expenses

Company press release: ID:nBw91Sh3Ma

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 EPS
$0.33


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the investment management & fund operators peer group is "buy."

Wall Street's median 12-month price target for Morgan Stanley Direct Lending Fund is $18.00, about 15.2% above its February 25 closing price of $15.62

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)