Invesco Ltd. Decreases Stake in SFL Corporation Ltd. $SFL

Key Points

• Invesco Ltd. has reduced its stake in SFL Corporation Ltd. by 13.7%, now owning approximately 0.22% of the shipping company's shares, valued at $2.6 million.
• SFL recently reported quarterly earnings of $0.01 per share, with a revenue of $192.59 million, slightly surpassing analyst expectations.
• The company announced a $0.20 quarterly dividend, representing a yield of 9.8%, with a notably high dividend payout ratio of 415.38%.

Invesco Ltd. lowered its holdings in SFL Corporation Ltd. (NYSE:SFL - Free Report) by 13.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 316,284 shares of the shipping company's stock after selling 50,138 shares during the quarter. Invesco Ltd. owned 0.22% of SFL worth $2,594,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Deutsche Bank AG grew its position in SFL by 63.1% during the fourth quarter. Deutsche Bank AG now owns 97,240 shares of the shipping company's stock valued at $994,000 after buying an additional 37,622 shares during the period. DAVENPORT & Co LLC lifted its stake in shares of SFL by 16.2% in the first quarter. DAVENPORT & Co LLC now owns 12,556 shares of the shipping company's stock worth $103,000 after buying an additional 1,750 shares in the last quarter. Bessemer Group Inc. purchased a new position in shares of SFL in the first quarter worth about $76,000. Bank of New York Mellon Corp lifted its stake in shares of SFL by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 1,314,878 shares of the shipping company's stock worth $10,782,000 after buying an additional 69,667 shares in the last quarter. Finally, Sigma Planning Corp raised its stake in SFL by 803.8% during the first quarter. Sigma Planning Corp now owns 123,535 shares of the shipping company's stock worth $1,013,000 after purchasing an additional 109,866 shares during the period. Institutional investors and hedge funds own 28.59% of the company's stock.

SFL Trading Down 0.2%

Shares of SFL traded down $0.02 during trading on Thursday, reaching $8.13. 796,236 shares of the company traded hands, compared to its average volume of 1,737,168. The company has a quick ratio of 0.45, a current ratio of 0.30 and a debt-to-equity ratio of 1.97. The stock has a market cap of $1.18 billion, a PE ratio of 31.25 and a beta of 0.54. The stock has a 50-day simple moving average of $8.83 and a 200-day simple moving average of $8.56. SFL Corporation Ltd. has a twelve month low of $6.78 and a twelve month high of $11.85.

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

SFL Cuts Dividend

The firm also recently disclosed 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 dividend yield of 9.8%. SFL's payout ratio is 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.