Dimensional Fund Advisors LP lifted its stake in SFL Corporation Ltd. (NYSE:SFL - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,805,291 shares of the shipping company's stock after acquiring an additional 244,621 shares during the period. Dimensional Fund Advisors LP owned approximately 6.09% of SFL worth $95,007,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in shares of SFL by 789.3% during the 2nd 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 bought a new position in SFL during the third quarter valued at about $32,000. NFSG Corp raised its holdings in SFL by 50.0% in the 1st quarter. NFSG Corp now owns 4,500 shares of the shipping company's stock valued at $49,000 after acquiring an additional 1,500 shares in the last quarter. Signaturefd LLC lifted its position in shares of SFL by 30.5% in the 4th quarter. Signaturefd LLC now owns 6,008 shares of the shipping company's stock worth $47,000 after acquiring an additional 1,405 shares during the period. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of SFL during the 4th quarter worth approximately $47,000. 28.59% of the stock is currently owned by institutional investors and hedge funds.
SFL Stock Up 0.1%
Shares of SFL opened at $12.14 on Thursday. The company has a market capitalization of $1.76 billion, a P/E ratio of 50.61 and a beta of 0.44. SFL Corporation Ltd. has a one year low of $6.73 and a one year high of $12.94. The business's 50 day simple moving average is $11.23 and its 200-day simple moving average is $10.70. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.32 and a quick ratio of 0.32.
SFL (NYSE:SFL - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The shipping company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.13. SFL had a return on equity of 0.26% and a net margin of 4.37%.The firm had revenue of $174.48 million during the quarter, compared to the consensus estimate of $170.77 million. During the same quarter in the previous year, the company posted ($0.24) EPS. The business's revenue for the quarter was down 6.8% compared to the same quarter last year.
SFL Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were issued a $0.22 dividend. This is an increase from SFL's previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend was Wednesday, May 27th. SFL's dividend payout ratio (DPR) is 366.67%.
Analyst Upgrades and Downgrades
SFL has been the topic of several analyst reports. Wall Street Zen raised shares of SFL from a "hold" rating to a "buy" rating in a report on Sunday. Weiss Ratings upgraded shares of SFL from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 15th. Finally, BTIG Research increased their price target on shares of SFL from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, SFL currently has a consensus rating of "Moderate Buy" and an average price target of $14.00.
Get Our Latest 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.
See Also
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