Navios Maritime Acquisition Corporation (NNA) to Issue Quarterly Dividend of $0.05 on December 12th

Navios Maritime Acquisition Corporation (NYSE:NNA) announced a quarterly dividend on Friday, November 3rd, Wall Street Journal reports. Investors of record on Wednesday, December 6th will be paid a dividend of 0.05 per share by the shipping company on Tuesday, December 12th. This represents a $0.20 dividend on an annualized basis and a yield of 14.81%. The ex-dividend date is Tuesday, December 5th.

Navios Maritime Acquisition has a payout ratio of -333.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Navios Maritime Acquisition to earn ($0.02) per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of -1,000.0%.

Shares of Navios Maritime Acquisition (NYSE NNA) opened at $1.35 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 2.12. Navios Maritime Acquisition has a 12 month low of $1.08 and a 12 month high of $2.11. The company has a market capitalization of $202.95, a PE ratio of 19.29 and a beta of 1.60.

A hedge fund recently raised its stake in Navios Maritime Acquisition stock. State Street Corp raised its holdings in Navios Maritime Acquisition Corporation (NYSE:NNA) by 6.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,356,842 shares of the shipping company’s stock after buying an additional 81,935 shares during the quarter. State Street Corp owned about 0.90% of Navios Maritime Acquisition worth $1,992,000 at the end of the most recent reporting period. 19.17% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have commented on NNA shares. Citigroup cut Navios Maritime Acquisition from a “buy” rating to a “neutral” rating and set a $1.25 price target for the company. in a research note on Friday, August 11th. Stifel Nicolaus reiterated a “buy” rating and issued a $2.25 price target (up from $2.00) on shares of Navios Maritime Acquisition in a research note on Friday, August 11th. TheStreet cut Navios Maritime Acquisition from a “c” rating to a “d+” rating in a research note on Thursday, August 10th. ValuEngine cut Navios Maritime Acquisition from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research cut Navios Maritime Acquisition from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $1.63.

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About Navios Maritime Acquisition

Navios Maritime Acquisition Corporation is an international shipping company. The Company owns a fleet of modern crude oil, refined petroleum product and chemical tankers providing marine transportation services around the world. The Company charters its vessels to international oil companies, refiners and vessel operators under long, medium and short-term charters.

Dividend History for Navios Maritime Acquisition (NYSE:NNA)

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