Raymond James Trust N.A. Invests $159,000 in DHT Holdings, Inc. (NYSE:DHT)

Raymond James Trust N.A. purchased a new stake in shares of DHT Holdings, Inc. (NYSE:DHT) during the third quarter, Holdings Channel reports. The institutional investor purchased 14,417 shares of the shipping company’s stock, valued at approximately $159,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quarry LP boosted its holdings in shares of DHT by 2,494.6% in the second quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock worth $45,000 after acquiring an additional 3,717 shares during the period. Summit Securities Group LLC purchased a new position in DHT during the 2nd quarter valued at about $78,000. Nisa Investment Advisors LLC increased its position in shares of DHT by 52.2% during the third quarter. Nisa Investment Advisors LLC now owns 6,888 shares of the shipping company’s stock valued at $76,000 after buying an additional 2,361 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of DHT in the second quarter worth about $80,000. Finally, Blue Trust Inc. boosted its position in shares of DHT by 41,626.3% in the second quarter. Blue Trust Inc. now owns 7,928 shares of the shipping company’s stock valued at $91,000 after acquiring an additional 7,909 shares during the period. 58.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $14.00 target price on shares of DHT in a report on Wednesday, November 13th. BTIG Research started coverage on DHT in a research note on Tuesday, October 15th. They set a “buy” rating and a $16.00 price objective for the company. Stifel Nicolaus decreased their target price on DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, October 23rd. Fearnley Fonds raised DHT to a “strong-buy” rating in a report on Friday, September 27th. Finally, StockNews.com raised shares of DHT from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

DHT Price Performance

Shares of DHT stock opened at $9.63 on Friday. The business’s 50-day moving average price is $10.82 and its 200-day moving average price is $11.18. The firm has a market capitalization of $1.55 billion, a PE ratio of 9.64 and a beta of -0.36. DHT Holdings, Inc. has a 12 month low of $9.28 and a 12 month high of $12.80. The company has a current ratio of 2.41, a quick ratio of 1.97 and a debt-to-equity ratio of 0.35.

DHT (NYSE:DHT) last posted its quarterly earnings results on Tuesday, November 12th. The shipping company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. DHT had a net margin of 27.72% and a return on equity of 15.58%. The firm had revenue of $92.64 million for the quarter, compared to the consensus estimate of $87.51 million. During the same period last year, the firm posted $0.19 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. Sell-side analysts forecast that DHT Holdings, Inc. will post 1 EPS for the current fiscal year.

DHT Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.88 annualized dividend and a yield of 9.14%. DHT’s payout ratio is 88.00%.

About DHT

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. The company also offers technical management services. As of March 15, 2024, it had a fleet of 24 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.