California Public Employees Retirement System decreased its stake in shares of Capital Product Partners L.P. (NASDAQ:CPLP) by 4.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 295,600 shares of the shipping company’s stock after selling 12,800 shares during the period. California Public Employees Retirement System’s holdings in Capital Product Partners L.P. were worth $1,055,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Stifel Financial Corp increased its stake in shares of Capital Product Partners L.P. by 31.4% in the first quarter. Stifel Financial Corp now owns 28,050 shares of the shipping company’s stock valued at $100,000 after buying an additional 6,696 shares in the last quarter. Nine Chapters Capital Management LLC acquired a new stake in shares of Capital Product Partners L.P. during the first quarter valued at approximately $117,000. Acadian Asset Management LLC acquired a new stake in shares of Capital Product Partners L.P. during the first quarter valued at approximately $220,000. Private Advisor Group LLC increased its stake in shares of Capital Product Partners L.P. by 174.8% in the first quarter. Private Advisor Group LLC now owns 76,901 shares of the shipping company’s stock valued at $265,000 after buying an additional 48,918 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Capital Product Partners L.P. by 5.0% in the first quarter. Wells Fargo & Company MN now owns 94,464 shares of the shipping company’s stock valued at $337,000 after buying an additional 4,498 shares in the last quarter. Institutional investors and hedge funds own 18.67% of the company’s stock.

Capital Product Partners L.P. (CPLP) traded up 2.60% during trading on Friday, hitting $3.55. The stock had a trading volume of 693,719 shares. Capital Product Partners L.P. has a 12 month low of $2.73 and a 12 month high of $4.00.

Capital Product Partners L.P. (NASDAQ:CPLP) last announced its quarterly earnings data on Friday, July 28th. The shipping company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $62.06 million for the quarter, compared to analysts’ expectations of $59.47 million. Capital Product Partners L.P. had a net margin of 18.20% and a return on equity of 4.95%. Analysts anticipate that Capital Product Partners L.P. will post $0.27 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Thursday, August 3rd were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 9.01%. The ex-dividend date of this dividend was Tuesday, August 1st. Capital Product Partners L.P.’s dividend payout ratio (DPR) is presently 106.67%.

ILLEGAL ACTIVITY NOTICE: “Capital Product Partners L.P. (NASDAQ:CPLP) Position Reduced by California Public Employees Retirement System” was originally published by Watch List News and is the property of of Watch List News. If you are viewing this piece on another publication, it was copied illegally and republished in violation of US and international trademark & copyright legislation. The original version of this piece can be read at https://www.watchlistnews.com/capital-product-partners-l-p-nasdaqcplp-position-reduced-by-california-public-employees-retirement-system/1477860.html.

Several brokerages have commented on CPLP. UBS AG reiterated a “neutral” rating and set a $4.00 target price (down from $4.50) on shares of Capital Product Partners L.P. in a research note on Thursday, August 3rd. BidaskClub downgraded Capital Product Partners L.P. from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Finally, TheStreet downgraded Capital Product Partners L.P. from a “b-” rating to a “c” rating in a research note on Wednesday, May 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $4.40.

Capital Product Partners L.P. Company Profile

Capital Product Partners L.P. is an international owner of tanker, container and drybulk vessels. The Company’s fleet consisted of 36 high specification vessels with an average age of approximately 7.4 years, as of December 31, 2016. As of December 31, 2016, its fleet consisted of four Suezmax crude oil tankers, 21 medium range product tankers, 10 post-panamax container carrier vessels and one Capesize bulk carrier.

Want to see what other hedge funds are holding CPLP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Capital Product Partners L.P. (NASDAQ:CPLP).

Institutional Ownership by Quarter for Capital Product Partners L.P. (NASDAQ:CPLP)

Receive News & Ratings for Capital Product Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Capital Product Partners L.P. and related companies with Analyst Ratings Network's FREE daily email newsletter.