Separately, Jefferies Financial Group reissued a buy rating and issued a $80.00 price target on shares of Danaos in a report on Monday, August 7th.
Danaos Price Performance
Danaos Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 6th. Stockholders of record on Monday, November 27th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 4.76%. This is an increase from Danaos’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, November 24th. Danaos’s dividend payout ratio is presently 10.42%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC raised its stake in Danaos by 45.2% in the 3rd quarter. Signaturefd LLC now owns 524 shares of the shipping company’s stock valued at $35,000 after purchasing an additional 163 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Danaos by 2.7% in the 1st quarter. Thrivent Financial for Lutherans now owns 6,535 shares of the shipping company’s stock valued at $357,000 after buying an additional 173 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in shares of Danaos by 1.1% during the 1st quarter. Schonfeld Strategic Advisors LLC now owns 18,300 shares of the shipping company’s stock worth $1,000,000 after purchasing an additional 200 shares during the period. Citigroup Inc. grew its holdings in shares of Danaos by 34.2% during the 1st quarter. Citigroup Inc. now owns 808 shares of the shipping company’s stock worth $44,000 after purchasing an additional 206 shares during the period. Finally, National Bank of Canada FI grew its holdings in shares of Danaos by 3.7% during the 3rd quarter. National Bank of Canada FI now owns 10,203 shares of the shipping company’s stock worth $671,000 after purchasing an additional 368 shares during the period. 19.01% of the stock is owned by institutional investors and hedge funds.
Danaos Company Profile
Danaos Corporation, together with its subsidiaries, owns and operates containerships in Australia, Asia, Europe, and the United States. The company offers seaborne transportation services, such as chartering its vessels to liner companies. As of March 7, 2023, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.
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