SFL Corporation Ltd. $SFL Shares Bought by Petrus Trust Company LTA

Key Points

• Petrus Trust Company LTA significantly increased its holdings in SFL Corporation Ltd. by 419.8%, acquiring 122,187 shares in the first quarter, bringing its total to 151,291 shares.
• SFL Corporation Ltd. recently reported $0.01 earnings per share (EPS) for the quarter and announced a $0.20 dividend for investors, despite a high dividend payout ratio of 415.38%.
• The company's stock has a market capitalization of $1.20 billion and is trading at around $8.25, with a 52-week range between $6.78 and $11.85.

Petrus Trust Company LTA increased its holdings in SFL Corporation Ltd. (NYSE:SFL - Free Report) by 419.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 151,291 shares of the shipping company's stock after acquiring an additional 122,187 shares during the period. SFL makes up about 0.1% of Petrus Trust Company LTA's holdings, making the stock its 24th largest holding. Petrus Trust Company LTA owned approximately 0.10% of SFL worth $1,241,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SFL. Brighton Jones LLC grew its position in SFL by 8.2% in the fourth quarter. Brighton Jones LLC now owns 19,395 shares of the shipping company's stock worth $198,000 after acquiring an additional 1,474 shares during the period. Raymond James Financial Inc. purchased a new position in shares of SFL during the fourth quarter worth $414,000. Price T Rowe Associates Inc. MD boosted its position in shares of SFL by 28.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 50,680 shares of the shipping company's stock worth $518,000 after buying an additional 11,183 shares during the period. Northern Trust Corp boosted its position in shares of SFL by 17.5% during the fourth quarter. Northern Trust Corp now owns 910,484 shares of the shipping company's stock worth $9,305,000 after buying an additional 135,768 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of SFL by 8.7% during the fourth quarter. Ameriprise Financial Inc. now owns 200,546 shares of the shipping company's stock worth $2,050,000 after buying an additional 16,094 shares during the period. 28.59% of the stock is currently owned by hedge funds and other institutional investors.

SFL Trading Up 0.4%

Shares of SFL traded up $0.04 during midday trading on Monday, hitting $8.27. 1,115,077 shares of the stock were exchanged, compared to its average volume of 1,731,629. SFL Corporation Ltd. has a 52-week low of $6.78 and a 52-week high of $11.85. The stock has a fifty day simple moving average of $8.83 and a 200 day simple moving average of $8.52. The firm has a market cap of $1.20 billion, a P/E ratio of 31.79 and a beta of 0.55. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.45 and a current ratio of 0.30.

SFL (NYSE:SFL - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The shipping company reported $0.01 EPS for the quarter. SFL had a return on equity of 6.67% and a net margin of 3.97%.The business had revenue of $192.59 million during the quarter, compared to analyst estimates of $192.40 million. During the same period last year, the business posted $0.16 earnings per share. The company's quarterly revenue was up 1.0% on a year-over-year basis.

SFL Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, September 12th will be issued a $0.20 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.80 dividend on an annualized basis and a yield of 9.7%. SFL's dividend payout ratio (DPR) is 415.38%.

About SFL

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.