Danaos Corporation $DAC Shares Acquired by Shikiar Asset Management Inc.

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

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC acquired a new stake in Danaos during the 4th quarter worth about $43,000. Raymond James Financial Inc. purchased a new stake in Danaos during the 2nd quarter valued at about $64,000. Tower Research Capital LLC TRC acquired a new position in shares of Danaos in the second quarter valued at about $67,000. Farther Finance Advisors LLC increased its holdings in shares of Danaos by 165.0% in the fourth quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock valued at $73,000 after purchasing an additional 485 shares during the period. Finally, Royal Bank of Canada increased its holdings in shares of Danaos by 443.1% in the fourth quarter. Royal Bank of Canada now owns 869 shares of the shipping company’s stock valued at $82,000 after purchasing an additional 709 shares during the period. Hedge funds and other institutional investors own 19.01% of the company’s stock.

Danaos Price Performance

NYSE:DAC opened at $122.17 on Wednesday. Danaos Corporation has a one year low of $83.56 and a one year high of $135.21. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.40 and a current ratio of 8.66. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 4.31 and a beta of 0.91. The firm’s fifty day moving average is $127.15 and its two-hundred day moving average is $113.35.

Danaos (NYSE:DAC) last released its quarterly earnings data on Monday, May 11th. The shipping company reported $6.72 earnings per share for the quarter, beating analysts’ consensus estimates of $5.86 by $0.86. The business had revenue of $253.70 million during the quarter, compared to analyst estimates 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 announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Tuesday, May 26th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, May 26th. Danaos’s dividend payout ratio (DPR) is 12.70%.

Analyst Upgrades and Downgrades

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

Danaos Profile

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.