Petrus Trust Company LTA Grows Stock Position in SFL Corporation Ltd. $SFL

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

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in SFL by 150.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,618,303 shares of the shipping company's stock worth $21,470,000 after purchasing an additional 1,574,696 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in SFL in the 1st quarter worth approximately $830,000. AQR Capital Management LLC boosted its stake in SFL by 52.8% in the 1st quarter. AQR Capital Management LLC now owns 21,060 shares of the shipping company's stock worth $173,000 after purchasing an additional 7,273 shares during the period. Quarry LP boosted its stake in SFL by 183.6% in the 1st quarter. Quarry LP now owns 3,706 shares of the shipping company's stock worth $30,000 after purchasing an additional 2,399 shares during the period. Finally, Calton & Associates Inc. bought a new position in SFL in the 1st quarter worth approximately $108,000. 28.59% of the stock is currently owned by institutional investors.

SFL Price Performance

Shares of NYSE SFL traded up $0.02 during midday trading on Thursday, reaching $8.23. 534,812 shares of the stock traded hands, compared to its average volume of 1,232,409. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.30 and a quick ratio of 0.45. The stock has a market capitalization of $1.20 billion, a PE ratio of 31.71 and a beta of 0.54. SFL Corporation Ltd. has a one year low of $6.78 and a one year high of $11.85. The company's 50 day moving average is $8.81 and its 200 day moving average is $8.52.

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

SFL Cuts Dividend

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

SFL Profile

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.