Patria Investments Limited (NYSE:PAX) Stock to Pay Quarterly Dividend of $0.16

Key Points

• Patria Investments declared a quarterly dividend of $0.1625 per share, payable December 11 to shareholders of record November 13. The annualized dividend is $0.65, representing a 6.9% yield.
• The dividend appears supported by earnings: the current payout ratio is 50%, and analysts’ expected earnings imply a projected payout ratio of 40.9% next year.
• Analyst sentiment is cautious, with a consensus “Reduce” rating and an average price target of $12.75; three of five analysts cited rated the stock Sell.

Patria Investments Limited (NYSE:PAX - Get Free Report) announced a quarterly dividend on Tuesday, November 3rd. Stockholders of record on Friday, November 13th will be paid a dividend of $0.1625 per share on Friday, December 11th. This represents a $0.65 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, November 13th.

Patria Investments has a payout ratio of 50.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Patria Investments to earn $1.59 per share next year, which means the company should continue to be able to cover its $0.65 annual dividend with an expected future payout ratio of 40.9%.

Patria Investments Stock Down 0.4%

Shares of PAX stock traded down $0.04 during trading hours on Tuesday, reaching $9.36. The company had a trading volume of 3,428,035 shares, compared to its average volume of 1,049,780. The company has a market cap of $622.66 million, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 1.28 and a beta of 0.80. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91. Patria Investments has a 12 month low of $9.03 and a 12 month high of $17.80. The business has a fifty day simple moving average of $10.83 and a 200-day simple moving average of $11.94.

Analyst Ratings Changes

A number of equities research analysts recently commented on PAX shares. JPMorgan Chase & Co. lowered their price target on Patria Investments from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, September 10th. Zacks Research downgraded shares of Patria Investments from a "hold" rating to a "strong sell" rating in a report on Monday, September 14th. Wells Fargo & Company set a $10.00 target price on shares of Patria Investments in a research note on Wednesday, September 9th. Citigroup downgraded shares of Patria Investments to an "underperform" rating in a report on Wednesday, September 9th. Finally, Bank of America lowered shares of Patria Investments from a "neutral" rating to an "underperform" rating and set a $10.00 price target on the stock. in a research report on Wednesday, September 9th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Patria Investments currently has a consensus rating of "Reduce" and an average target price of $12.75.

About Patria Investments

Patria Investments NYSE: PAX is a global alternative asset management firm focused on investing in private markets. The company manages capital on behalf of institutional investors, family offices, and other clients through strategies that include private equity, infrastructure, credit, growth capital, venture capital, and real estate.

Founded in Brazil in 1988, Patria has developed extensive experience investing in Latin America and has expanded its platform to serve clients and pursue opportunities across North America, Europe, and other international markets.

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