Arrowstreet Capital Limited Partnership decreased its stake in shares of SFL Corporation Ltd. (NYSE:SFL - Free Report) by 13.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 678,523 shares of the shipping company's stock after selling 101,876 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.47% of SFL worth $7,321,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its position in shares of SFL by 789.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the shipping company's stock worth $28,000 after purchasing an additional 2,944 shares during the period. Triumph Capital Management acquired a new stake in SFL in the 3rd quarter valued at $32,000. NFSG Corp increased its stake in SFL by 50.0% during the 1st quarter. NFSG Corp now owns 4,500 shares of the shipping company's stock valued at $49,000 after purchasing an additional 1,500 shares in the last quarter. Signaturefd LLC increased its stake in SFL by 30.5% during the 4th quarter. Signaturefd LLC now owns 6,008 shares of the shipping company's stock valued at $47,000 after purchasing an additional 1,405 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in SFL during the fourth quarter worth $47,000. Institutional investors own 28.59% of the company's stock.
SFL Stock Performance
SFL stock opened at $12.31 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 1.84. The firm has a market cap of $1.78 billion, a PE ratio of 51.31 and a beta of 0.44. The business has a 50 day moving average of $11.22 and a 200-day moving average of $10.74. SFL Corporation Ltd. has a 12-month low of $6.73 and a 12-month high of $12.94.
SFL (NYSE:SFL - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The shipping company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.13. The business had revenue of $174.48 million for the quarter, compared to analyst estimates of $170.77 million. SFL had a return on equity of 0.26% and a net margin of 4.37%.SFL's quarterly revenue was down 6.8% compared to the same quarter last year. During the same period last year, the company posted ($0.24) earnings per share.
SFL Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.1%. This is an increase from SFL's previous quarterly dividend of $0.20. SFL's payout ratio is currently 366.67%.
Analyst Ratings Changes
SFL has been the topic of a number of recent research reports. BTIG Research raised their price objective on shares of SFL from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. Wall Street Zen upgraded SFL from a "hold" rating to a "buy" rating in a research note on Sunday, July 26th. Finally, Weiss Ratings raised SFL from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, May 15th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $14.00.
Check Out Our Latest Stock Report on SFL
SFL Company Profile
(
Free Report)
Ship Finance International Limited NYSE: SFL is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.
In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.
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