SFL Co. Ltd. (NYSE:SFL) Stake Trimmed by MQS Management LLC

MQS Management LLC lowered its stake in SFL Co. Ltd. (NYSE:SFL) by 49.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,089 shares of the shipping company’s stock after selling 19,479 shares during the quarter. MQS Management LLC’s holdings in SFL were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Victory Capital Management Inc. increased its stake in SFL by 11.4% in the 3rd quarter. Victory Capital Management Inc. now owns 20,511 shares of the shipping company’s stock worth $237,000 after purchasing an additional 2,104 shares in the last quarter. GSA Capital Partners LLP purchased a new position in SFL in the 3rd quarter worth about $168,000. Farther Finance Advisors LLC increased its stake in SFL by 1,375.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,293 shares of the shipping company’s stock worth $50,000 after purchasing an additional 4,002 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in SFL by 272.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 45,990 shares of the shipping company’s stock worth $532,000 after acquiring an additional 33,640 shares during the period. Finally, International Assets Investment Management LLC boosted its position in SFL by 1,252.6% during the 3rd quarter. International Assets Investment Management LLC now owns 811,439 shares of the shipping company’s stock worth $9,388,000 after acquiring an additional 751,449 shares during the period. Hedge funds and other institutional investors own 28.59% of the company’s stock.

SFL Stock Down 1.3 %

Shares of SFL stock opened at $10.39 on Friday. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 9.36 and a beta of 0.68. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.50 and a quick ratio of 0.50. SFL Co. Ltd. has a 52-week low of $10.01 and a 52-week high of $14.62. The stock has a 50-day simple moving average of $11.07 and a 200-day simple moving average of $12.33.

SFL (NYSE:SFL) last posted its earnings results on Wednesday, November 6th. The shipping company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). SFL had a return on equity of 14.61% and a net margin of 16.03%. The company had revenue of $255.30 million during the quarter, compared to analyst estimates of $243.98 million. During the same quarter last year, the firm posted $0.23 earnings per share. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year.

SFL Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $0.27 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.08 annualized dividend and a yield of 10.39%. SFL’s dividend payout ratio (DPR) is currently 97.30%.

Wall Street Analysts Forecast Growth

Separately, Pareto Securities upgraded SFL from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th.

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.