Triton International Ltd (TRTN) Announces $0.52 Quarterly Dividend

Triton International Ltd (NYSE:TRTN) declared a quarterly dividend on Friday, November 2nd, Zacks reports. Stockholders of record on Monday, December 3rd will be paid a dividend of 0.52 per share on Thursday, December 20th. This represents a $2.08 annualized dividend and a dividend yield of 6.09%. The ex-dividend date is Friday, November 30th.

Triton International has a payout ratio of 48.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Triton International to earn $4.65 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 44.7%.

Shares of Triton International stock opened at $34.16 on Friday. The company has a debt-to-equity ratio of 3.13, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market cap of $2.73 billion, a PE ratio of 12.29, a PEG ratio of 0.77 and a beta of 2.86. Triton International has a 12 month low of $27.76 and a 12 month high of $42.41.

Triton International (NYSE:TRTN) last announced its quarterly earnings data on Friday, November 2nd. The company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. The firm had revenue of $350.08 million for the quarter, compared to analyst estimates of $349.39 million. Triton International had a return on equity of 14.44% and a net margin of 37.41%. The company’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 EPS. Research analysts forecast that Triton International will post 4.42 EPS for the current year.

Several equities analysts recently issued reports on TRTN shares. Compass Point restated a “buy” rating and set a $42.00 price target on shares of Triton International in a research report on Friday, August 3rd. ValuEngine upgraded Triton International from a “strong sell” rating to a “sell” rating in a research report on Friday, August 10th. Keefe, Bruyette & Woods upgraded Triton International from a “market perform” rating to an “outperform” rating in a research report on Thursday, September 6th. Wells Fargo & Co lowered Triton International from an “outperform” rating to a “market perform” rating and set a $35.00 price target on the stock. in a research report on Friday, September 28th. Finally, Zacks Investment Research upgraded Triton International from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Thursday, October 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $40.17.

In related news, Director Global Ltd Bharti acquired 337,000 shares of the stock in a transaction on Thursday, November 1st. The stock was acquired at an average price of $34.78 per share, for a total transaction of $11,720,860.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Pincus (Ganymede-Ii) P. Warburg sold 1,850,000 shares of Triton International stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $34.78, for a total value of $64,343,000.00. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

A hedge fund recently raised its stake in Triton International stock. JPMorgan Chase & Co. raised its stake in shares of Triton International Ltd (NYSE:TRTN) by 14.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,115 shares of the company’s stock after buying an additional 1,493 shares during the quarter. JPMorgan Chase & Co.’s holdings in Triton International were worth $403,000 at the end of the most recent quarter. 65.69% of the stock is currently owned by institutional investors and hedge funds.

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About Triton International

Triton International Limited engages in the acquisition, leasing, re-leasing, and sale of various types of intermodal transportation equipment to shipping lines, and freight forwarding companies and manufacturers. It operates in two segments, Equipment Leasing and Equipment Trading. The company primarily leases dry freight, refrigerated, special, and tank containers; and chassis used for the transportation of containers, as well as manages containers owned by third parties.

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Dividend History for Triton International (NYSE:TRTN)

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