SFL Corporation Ltd. (NYSE:SFL) Shares Bought by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. increased its stake in SFL Corporation Ltd. by 45.1%, owning 653,547 shares worth approximately $5.36 million at the end of the first quarter.
• SFL reported a EPS of $0.03 for the quarter, exceeding analyst expectations, but its revenue decreased by 18.5% compared to the same quarter last year.
• The company announced a quarterly dividend of $0.27, yielding 11.59% annually, with a payout ratio of 263.41%.

Victory Capital Management Inc. raised its stake in shares of SFL Corporation Ltd. (NYSE:SFL - Free Report) by 45.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 653,547 shares of the shipping company's stock after buying an additional 203,236 shares during the quarter. Victory Capital Management Inc. owned about 0.45% of SFL worth $5,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. grew its stake in shares of SFL by 18.1% in the 1st quarter. SBI Securities Co. Ltd. now owns 93,484 shares of the shipping company's stock worth $767,000 after buying an additional 14,320 shares in the last quarter. Sigma Planning Corp grew its holdings in SFL by 803.8% during the 1st quarter. Sigma Planning Corp now owns 123,535 shares of the shipping company's stock valued at $1,013,000 after purchasing an additional 109,866 shares during the last quarter. MQS Management LLC bought a new position in shares of SFL during the first quarter valued at approximately $145,000. Left Brain Wealth Management LLC increased its stake in SFL by 24.7% in the first quarter. Left Brain Wealth Management LLC now owns 47,035 shares of the shipping company's stock worth $386,000 after purchasing an additional 9,325 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings 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 worth $611,000 after purchasing an additional 16,600 shares during the last quarter. 28.59% of the stock is owned by hedge funds and other institutional investors.

SFL Trading Down 1.4%

SFL stock traded down $0.13 during trading hours on Wednesday, hitting $9.35. The company had a trading volume of 840,083 shares, compared to its average volume of 896,684. The firm has a market cap of $1.36 billion, a P/E ratio of 22.81 and a beta of 0.51. The company has a 50-day moving average price of $8.83 and a two-hundred day moving average price of $8.91. SFL Corporation Ltd. has a 1 year low of $6.78 and a 1 year high of $11.99. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.45 and a current ratio of 0.45.

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

SFL Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $1.08 dividend on an annualized basis and a yield of 11.55%. 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.