Sigma Planning Corp Increases Stake in SFL Corporation Ltd. (NYSE:SFL)

Sigma Planning Corp increased its stake in shares of SFL Corporation Ltd. (NYSE:SFL - Free Report) by 803.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 123,535 shares of the shipping company's stock after acquiring an additional 109,866 shares during the period. Sigma Planning Corp owned approximately 0.08% of SFL worth $1,013,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. MQS Management LLC bought a new stake in shares of SFL during the first quarter valued at approximately $145,000. Left Brain Wealth Management LLC increased its position in SFL by 24.7% in the 1st quarter. Left Brain Wealth Management LLC now owns 47,035 shares of the shipping company's stock valued at $386,000 after acquiring an additional 9,325 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of SFL by 28.7% in the first quarter. Nisa Investment Advisors LLC now owns 74,499 shares of the shipping company's stock valued at $611,000 after acquiring an additional 16,600 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of SFL by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 1,314,878 shares of the shipping company's stock valued at $10,782,000 after purchasing an additional 69,667 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its holdings in SFL by 16.2% during the first quarter. DAVENPORT & Co LLC now owns 12,556 shares of the shipping company's stock worth $103,000 after purchasing an additional 1,750 shares during the last quarter. 28.59% of the stock is owned by institutional investors and hedge funds.

SFL Stock Down 1.5%

Shares of NYSE:SFL traded down $0.13 during trading on Monday, hitting $9.02. 786,148 shares of the company were exchanged, compared to its average volume of 1,129,803. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 21.99 and a beta of 0.51. The firm has a fifty day moving average price of $8.73 and a two-hundred day moving average price of $8.95. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 2.14. SFL Corporation Ltd. has a fifty-two week low of $6.78 and a fifty-two week high of $14.05.

SFL (NYSE:SFL - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The shipping company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. The firm had revenue of $186.74 million during the quarter, compared to analysts' expectations of $183.82 million. SFL had a return on equity of 8.50% and a net margin of 6.20%. The business's revenue for the quarter was down 18.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 earnings per share.

SFL Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Thursday, June 12th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 11.98%. The ex-dividend date of this dividend was Thursday, June 12th. SFL's dividend payout ratio is currently 263.41%.

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.