Geode Capital Management LLC Raises Stake in SFL Co. Ltd. (NYSE:SFL)

Geode Capital Management LLC raised its holdings in SFL Co. Ltd. (NYSE:SFL - Free Report) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,571,430 shares of the shipping company's stock after purchasing an additional 129,742 shares during the period. Geode Capital Management LLC owned 1.13% of SFL worth $16,060,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Signaturefd LLC grew its holdings in SFL by 831.8% during the 4th quarter. Signaturefd LLC now owns 2,870 shares of the shipping company's stock valued at $29,000 after buying an additional 2,562 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of SFL in the third quarter valued at approximately $34,000. Jones Financial Companies Lllp grew its stake in SFL by 41.9% during the fourth quarter. Jones Financial Companies Lllp now owns 3,220 shares of the shipping company's stock valued at $33,000 after acquiring an additional 950 shares in the last quarter. Blue Trust Inc. increased its holdings in SFL by 64.6% during the 4th quarter. Blue Trust Inc. now owns 3,257 shares of the shipping company's stock worth $33,000 after acquiring an additional 1,278 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new stake in SFL in the 4th quarter worth approximately $89,000. Institutional investors own 28.59% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of SFL from a "hold" rating to a "sell" rating in a research report on Thursday, February 13th.

SFL Price Performance

Shares of NYSE SFL traded up $0.12 during midday trading on Friday, hitting $8.07. 344,468 shares of the company's stock were exchanged, compared to its average volume of 1,018,445. The company has a current ratio of 0.38, a quick ratio of 0.50 and a debt-to-equity ratio of 1.91. The business's fifty day moving average price is $8.28 and its two-hundred day moving average price is $9.79. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 7.99 and a beta of 0.57. SFL Co. Ltd. has a 12-month low of $6.78 and a 12-month high of $14.62.

SFL Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 13.39%. The ex-dividend date of this dividend was Wednesday, March 12th. SFL's dividend payout ratio (DPR) is currently 106.93%.

SFL Company 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.