Shares of SFL Corporation Ltd. (NYSE:SFL - Get Free Report) traded up 4.9% on Wednesday following a dividend announcement from the company. The company traded as high as $8.02 and last traded at $7.99. 708,837 shares changed hands during trading, a decline of 42% from the average session volume of 1,225,234 shares. The stock had previously closed at $7.61.The newly announced dividend which will be paid on Monday, September 29th. Investors of record on Friday, September 12th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.80 dividend on an annualized basis and a yield of 10.0%. SFL's dividend payout ratio is presently 263.41%.
SFL Trading Up 5.3%
The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.45 and a current ratio of 0.45. The business has a 50-day simple moving average of $8.96 and a two-hundred day simple moving average of $8.74. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 19.55 and a beta of 0.56.
SFL (NYSE:SFL - Get Free Report) last released its earnings results on Tuesday, August 19th. The shipping company reported $0.01 earnings per share for the quarter. SFL had a net margin of 6.20% and a return on equity of 8.50%. The business had revenue of $192.59 million during the quarter, compared to analysts' expectations of $192.40 million. During the same period last year, the business earned $0.16 earnings per share. The firm's revenue was up 1.0% on a year-over-year basis.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in SFL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 valued at $21,470,000 after buying an additional 1,574,696 shares during the period. American Century Companies Inc. boosted its position in shares of SFL by 27.2% during the 2nd quarter. American Century Companies Inc. now owns 3,297,605 shares of the shipping company's stock worth $27,469,000 after acquiring an additional 704,710 shares in the last quarter. Nuveen LLC bought a new position in SFL in the first quarter valued at approximately $4,172,000. Nuveen Asset Management LLC raised its position in SFL by 27.6% during the fourth quarter. Nuveen Asset Management LLC now owns 947,311 shares of the shipping company's stock valued at $9,682,000 after purchasing an additional 204,884 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in SFL by 45.1% during the first quarter. Victory Capital Management Inc. now owns 653,547 shares of the shipping company's stock valued at $5,359,000 after purchasing an additional 203,236 shares in the last quarter. Institutional investors and hedge funds own 28.59% of the company's stock.
SFL Company Profile
(
Get Free Report)
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.
Further Reading
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