SFL (NYSE:SFL) Hits New 52-Week Low – Here’s Why

SFL Co. Ltd. (NYSE:SFL) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $9.08 and last traded at $9.12, with a volume of 1525086 shares trading hands. The stock had previously closed at $9.36.

Wall Street Analyst Weigh In

SFL has been the subject of a number of recent analyst reports. Fearnley Fonds upgraded SFL from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. StockNews.com downgraded shares of SFL from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th.

SFL Stock Down 2.6 %

The company has a debt-to-equity ratio of 1.91, a current ratio of 0.38 and a quick ratio of 0.50. The firm has a market cap of $1.26 billion, a P/E ratio of 9.02 and a beta of 0.66. The firm’s 50-day moving average price is $10.32 and its 200 day moving average price is $10.79.

SFL Announces Dividend

The company also recently declared 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 11.85%. SFL’s dividend payout ratio (DPR) is 106.93%.

Hedge Funds Weigh In On SFL

Large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in shares of SFL by 1,252.6% during the third quarter. International Assets Investment Management LLC now owns 811,439 shares of the shipping company’s stock worth $9,388,000 after purchasing an additional 751,449 shares during the period. Nisa Investment Advisors LLC boosted its stake 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 purchasing an additional 33,640 shares during the period. Farther Finance Advisors LLC grew its position 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 during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of SFL in the third quarter valued at approximately $168,000. Finally, Victory Capital Management Inc. raised its holdings in shares of SFL by 11.4% during the third quarter. Victory Capital Management Inc. now owns 20,511 shares of the shipping company’s stock valued at $237,000 after buying an additional 2,104 shares during the last quarter. 28.59% of the stock is currently owned by institutional investors.

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.