Invesco Ltd. Lowers Stake in DHT Holdings, Inc. $DHT

Key Points

• Invesco Ltd. reduced its stake in DHT Holdings, Inc. by 16.5%, now holding 343,048 shares with a value of approximately $3.6 million.
• Several institutional investors have increased their positions in DHT, with CWM LLC boosting its stake by 223.4% in the 1st quarter.
• DHT Holdings recently increased its quarterly dividend to $0.24 per share, representing an annualized yield of 8.2%, up from the previous $0.17 dividend.

Invesco Ltd. decreased its position in DHT Holdings, Inc. (NYSE:DHT - Free Report) by 16.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 343,048 shares of the shipping company's stock after selling 68,017 shares during the period. Invesco Ltd. owned approximately 0.21% of DHT worth $3,602,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DHT. Legal & General Group Plc boosted its stake in DHT by 19.8% in the 4th quarter. Legal & General Group Plc now owns 26,754 shares of the shipping company's stock worth $249,000 after purchasing an additional 4,425 shares during the period. Barclays PLC boosted its stake in DHT by 16.5% in the 4th quarter. Barclays PLC now owns 219,998 shares of the shipping company's stock worth $2,044,000 after purchasing an additional 31,099 shares during the period. First Trust Advisors LP boosted its stake in shares of DHT by 15.7% during the 4th quarter. First Trust Advisors LP now owns 295,595 shares of the shipping company's stock worth $2,746,000 after buying an additional 40,102 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of DHT by 5.0% during the 4th quarter. MetLife Investment Management LLC now owns 79,683 shares of the shipping company's stock worth $740,000 after buying an additional 3,779 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of DHT by 84.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,771 shares of the shipping company's stock worth $26,000 after buying an additional 1,265 shares during the last quarter. 58.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on DHT. Jefferies Financial Group restated a "buy" rating and set a $15.00 price objective on shares of DHT in a research note on Thursday, August 7th. Zacks Research upgraded shares of DHT to a "hold" rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $12.94.

DHT Price Performance

DHT stock traded up $0.22 during mid-day trading on Wednesday, reaching $11.97. The company had a trading volume of 158,138 shares, compared to its average volume of 1,725,858. The business has a fifty day simple moving average of $11.22 and a 200 day simple moving average of $11.00. The company has a market cap of $1.92 billion, a P/E ratio of 10.15 and a beta of 0.03. DHT Holdings, Inc. has a fifty-two week low of $8.67 and a fifty-two week high of $12.32. The company has a current ratio of 2.33, a quick ratio of 1.96 and a debt-to-equity ratio of 0.23.

DHT (NYSE:DHT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The shipping company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. DHT had a net margin of 36.58% and a return on equity of 16.36%. The business had revenue of $92.80 million during the quarter, compared to the consensus estimate of $95.41 million. During the same quarter last year, the firm earned $0.27 earnings per share. DHT's quarterly revenue was down 10.5% on a year-over-year basis. On average, equities research analysts predict that DHT Holdings, Inc. will post 0.94 earnings per share for the current year.

DHT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 18th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date was Monday, August 18th. This is a boost from DHT's previous quarterly dividend of $0.17. DHT's dividend payout ratio (DPR) is presently 81.36%.

DHT Company Profile

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.