Initiates Coverage on Textainer Group (NYSE:TGH) began coverage on shares of Textainer Group (NYSE:TGHFree Report) in a research report sent to investors on Friday. The firm issued a hold rating on the transportation company’s stock.

A number of other analysts also recently weighed in on TGH. Keefe, Bruyette & Woods downgraded shares of Textainer Group from an outperform rating to a market perform rating and boosted their target price for the stock from $40.00 to $45.00 in a report on Thursday, July 27th. B. Riley downgraded Textainer Group from a buy rating to a neutral rating and cut their target price for the company from $55.00 to $50.00 in a research report on Monday, October 23rd.

Get Our Latest Stock Analysis on TGH

Textainer Group Stock Performance

NYSE TGH opened at $49.35 on Friday. The stock has a market capitalization of $2.09 billion, a PE ratio of 10.13 and a beta of 1.17. Textainer Group has a 1-year low of $28.84 and a 1-year high of $49.60. The business has a 50 day simple moving average of $42.09 and a two-hundred day simple moving average of $40.24. The company has a debt-to-equity ratio of 2.78, a current ratio of 1.14 and a quick ratio of 1.14.

Textainer Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.20 annualized dividend and a yield of 2.43%. Textainer Group’s dividend payout ratio (DPR) is 24.64%.

Institutional Trading of Textainer Group

A number of hedge funds have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. lifted its position in shares of Textainer Group by 2.7% in the 1st quarter. Donald Smith & CO. Inc. now owns 2,829,216 shares of the transportation company’s stock worth $90,846,000 after purchasing an additional 73,790 shares during the period. Raymond James & Associates purchased a new position in Textainer Group during the 1st quarter worth approximately $225,000. Dimensional Fund Advisors LP lifted its holdings in shares of Textainer Group by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,661,020 shares of the transportation company’s stock valued at $117,555,000 after buying an additional 139,904 shares during the period. Truist Financial Corp acquired a new stake in shares of Textainer Group during the 2nd quarter worth approximately $481,000. Finally, Capital Management Corp VA acquired a new stake in Textainer Group during the second quarter valued at $5,896,000. 44.28% of the stock is owned by hedge funds and other institutional investors.

About Textainer Group

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Textainer Group Holdings Limited, through its subsidiaries, engages in the purchase, ownership, management, leasing, and disposal of a fleet of intermodal containers worldwide. It operates through three segments: Container Ownership, Container Management, and Container Resale. The company's containers include standard and specialized dry freight, and refrigerated containers, as well as other special-purpose containers, which include tank, 45', pallet-wide, and other types of containers.

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