BidaskClub lowered shares of Seaspan Corporation (NYSE:SSW) from a buy rating to a hold rating in a research report sent to investors on Thursday.

A number of other research firms also recently weighed in on SSW. Zacks Investment Research downgraded Seaspan Corporation from a buy rating to a hold rating in a research note on Tuesday, July 4th. Credit Suisse Group downgraded Seaspan Corporation from a neutral rating to an underperform rating and dropped their price target for the stock from $7.00 to $6.00 in a research note on Monday, May 1st. Citigroup Inc. raised Seaspan Corporation from a sell rating to a neutral rating and set a $7.00 price target on the stock in a research note on Tuesday, May 2nd. Stifel Nicolaus reaffirmed a hold rating and set a $7.00 price target on shares of Seaspan Corporation in a research note on Friday, July 14th. Finally, ValuEngine downgraded Seaspan Corporation from a buy rating to a hold rating in a research note on Friday, June 2nd. Five analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The company currently has an average rating of Hold and an average price target of $6.94.

Shares of Seaspan Corporation (SSW) traded up 4.33% during midday trading on Thursday, reaching $6.74. The company had a trading volume of 1,476,660 shares. The stock’s 50 day moving average is $6.43 and its 200-day moving average is $7.07. The stock’s market capitalization is $737.91 million. Seaspan Corporation has a 12-month low of $5.02 and a 12-month high of $15.32.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 20th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 7.74%. The ex-dividend date is Tuesday, July 18th. Seaspan Corporation’s dividend payout ratio (DPR) is presently -32.26%.

Several hedge funds have recently modified their holdings of SSW. Airain ltd increased its stake in shares of Seaspan Corporation by 261.7% in the first quarter. Airain ltd now owns 117,955 shares of the shipping company’s stock valued at $817,000 after buying an additional 85,345 shares during the period. Shell Asset Management Co. increased its stake in shares of Seaspan Corporation by 2.1% in the first quarter. Shell Asset Management Co. now owns 55,682 shares of the shipping company’s stock valued at $386,000 after buying an additional 1,169 shares during the period. UBS Group AG increased its stake in shares of Seaspan Corporation by 119.5% in the first quarter. UBS Group AG now owns 86,282 shares of the shipping company’s stock valued at $598,000 after buying an additional 46,975 shares during the period. Private Advisor Group LLC bought a new stake in shares of Seaspan Corporation during the first quarter valued at approximately $111,000. Finally, Knott David M bought a new stake in shares of Seaspan Corporation during the first quarter valued at approximately $693,000. 14.38% of the stock is owned by hedge funds and other institutional investors.

About Seaspan Corporation

Seaspan Corporation is an independent charter owner and manager of containerships. The Company charters pursuant to long-term, fixed-rate time charters with various container liner companies. As of February 20, 2017, it had operated a fleet of 88 containerships and had entered into contracts for the purchase of an additional eight new building containerships.

Analyst Recommendations for Seaspan Corporation (NYSE:SSW)

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