Shikiar Asset Management Inc. Boosts Stock Holdings in Danaos Corporation $DAC

Shikiar Asset Management Inc. lifted its holdings in Danaos Corporation (NYSE:DAC) by 123.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 14,285 shares of the shipping company’s stock after purchasing an additional 7,885 shares during the period. Shikiar Asset Management Inc. owned about 0.08% of Danaos worth $1,609,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Danaos by 18.5% in the third quarter. JPMorgan Chase & Co. now owns 98,179 shares of the shipping company’s stock worth $8,817,000 after buying an additional 15,345 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Danaos during the 3rd quarter valued at $817,000. Diversified Trust Co purchased a new position in shares of Danaos in the 1st quarter valued at $498,000. Midwest Professional Planners LTD. purchased a new position in shares of Danaos in the 4th quarter valued at $487,000. Finally, Marnell Management LLC bought a new position in shares of Danaos in the 4th quarter worth $670,000. 19.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DAC shares. Weiss Ratings cut Danaos from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday. Fearnley Fonds upgraded shares of Danaos from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, Freedom Capital raised shares of Danaos to a “hold” rating in a research report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $105.00.

Danaos Stock Down 0.5%

Danaos stock opened at $122.17 on Wednesday. Danaos Corporation has a 1-year low of $83.56 and a 1-year high of $135.21. The business has a fifty day moving average price of $127.15 and a 200-day moving average price of $113.35. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.66 and a quick ratio of 8.40. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 4.31 and a beta of 0.91.

Danaos (NYSE:DAC) last released its quarterly earnings results on Monday, May 11th. The shipping company reported $6.72 EPS for the quarter, beating analysts’ consensus estimates of $5.86 by $0.86. The company had revenue of $253.70 million during the quarter, compared to analysts’ expectations of $242.20 million. Danaos had a return on equity of 13.18% and a net margin of 49.85%.

Danaos Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Tuesday, May 26th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, May 26th. Danaos’s dividend payout ratio (DPR) is presently 12.70%.

About Danaos

Danaos Corporation is a leading independent owner and manager of containerships, specializing in long-term charters of modern vessels to major liner companies worldwide. The company’s core services include vessel acquisition and sale, technical and crew management, and commercial chartering, all aimed at supporting global containerized trade. Danaos leverages its in-house expertise in operations, maintenance and regulatory compliance to ensure reliable and efficient fleet performance.

Founded in 1972 by Dr.