SFL (NYSE:SFL) Hits New 1-Year Low – Here’s Why

SFL Co. Ltd. (NYSE:SFL) shares reached a new 52-week low during trading on Thursday . The company traded as low as $7.90 and last traded at $7.98, with a volume of 273181 shares trading hands. The stock had previously closed at $8.24.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded SFL from a “hold” rating to a “sell” rating in a report on Thursday, February 13th.

SFL Stock Down 4.0 %

The company has a market cap of $1.15 billion, a PE ratio of 7.83 and a beta of 0.67. 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 company’s 50 day moving average is $9.33 and its 200 day moving average is $10.25.

SFL Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 13.65%. The ex-dividend date of this dividend was Wednesday, March 12th. SFL’s dividend payout ratio is presently 106.93%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of SFL by 239.3% in the 3rd quarter. Barclays PLC now owns 168,908 shares of the shipping company’s stock worth $1,954,000 after buying an additional 119,131 shares during the period. Geode Capital Management LLC lifted its stake in SFL by 4.8% in the third quarter. Geode Capital Management LLC now owns 1,441,688 shares of the shipping company’s stock worth $16,680,000 after acquiring an additional 66,096 shares during the period. SBI Securities Co. Ltd. bought a new position in SFL during the 4th quarter worth about $809,000. Victory Capital Management Inc. increased its position in SFL by 2,095.5% during the 4th quarter. Victory Capital Management Inc. now owns 450,311 shares of the shipping company’s stock valued at $4,602,000 after purchasing an additional 429,800 shares during the period. Finally, Wealthstar Advisors LLC bought a new stake in shares of SFL in the 4th quarter valued at about $569,000. Institutional investors own 28.59% of the company’s stock.

About SFL

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.