SFL (NYSE:SFL) Reaches New 12-Month Low – Here’s Why

SFL Co. Ltd. (NYSE:SFL) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $9.31 and last traded at $9.43, with a volume of 108592 shares. The stock had previously closed at $9.54.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SFL. Fearnley Fonds upgraded shares of SFL from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. StockNews.com lowered SFL from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th.

SFL Stock Performance

The company’s 50-day moving average price is $10.38 and its two-hundred day moving average price is $10.85. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.50 and a current ratio of 0.38. The stock has a market cap of $1.32 billion, a PE ratio of 9.46 and a beta of 0.66.

SFL Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be issued a $0.27 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 11.32%. SFL’s payout ratio is 106.93%.

Hedge Funds Weigh In On SFL

Large investors have recently added to or reduced their stakes in the business. Calton & Associates Inc. purchased a new stake in SFL during the 3rd quarter valued at about $176,000. Albert D Mason Inc. boosted its stake in shares of SFL by 66.9% during the third quarter. Albert D Mason Inc. now owns 85,885 shares of the shipping company’s stock valued at $994,000 after purchasing an additional 34,413 shares during the period. International Assets Investment Management LLC increased its stake in shares of SFL by 1,252.6% in the third quarter. International Assets Investment Management LLC now owns 811,439 shares of the shipping company’s stock worth $9,388,000 after buying an additional 751,449 shares during the period. Nisa Investment Advisors LLC raised its holdings in SFL by 272.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 45,990 shares of the shipping company’s stock valued at $532,000 after buying an additional 33,640 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in SFL by 1,375.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,293 shares of the shipping company’s stock valued at $50,000 after buying an additional 4,002 shares during the period. Hedge funds and other 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.