Advisors Capital Management LLC Has $3.54 Million Holdings in SFL Corporation Ltd. $SFL

Advisors Capital Management LLC grew its holdings in SFL Corporation Ltd. (NYSE:SFL) by 4.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 431,276 shares of the shipping company’s stock after purchasing an additional 17,300 shares during the period. Advisors Capital Management LLC owned about 0.30% of SFL worth $3,536,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC raised its holdings in shares of SFL by 8.2% in the fourth quarter. Brighton Jones LLC now owns 19,395 shares of the shipping company’s stock valued at $198,000 after purchasing an additional 1,474 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of SFL by 39.6% in the first quarter. Farther Finance Advisors LLC now owns 5,986 shares of the shipping company’s stock valued at $49,000 after purchasing an additional 1,698 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in shares of SFL by 16.2% in the first quarter. DAVENPORT & Co LLC now owns 12,556 shares of the shipping company’s stock valued at $103,000 after purchasing an additional 1,750 shares during the last quarter. Relyea Zuckerberg Hanson LLC raised its holdings in shares of SFL by 16.1% in the first quarter. Relyea Zuckerberg Hanson LLC now owns 12,647 shares of the shipping company’s stock valued at $104,000 after purchasing an additional 1,751 shares during the last quarter. Finally, Novak & Powell Financial Services Inc. raised its holdings in shares of SFL by 5.1% in the fourth quarter. Novak & Powell Financial Services Inc. now owns 41,281 shares of the shipping company’s stock valued at $422,000 after purchasing an additional 1,996 shares during the last quarter. 28.59% of the stock is currently owned by institutional investors and hedge funds.

SFL Price Performance

Shares of SFL opened at $8.31 on Friday. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 31.96 and a beta of 0.54. SFL Corporation Ltd. has a 1-year low of $6.78 and a 1-year high of $11.85. The company’s fifty day simple moving average is $8.80 and its 200 day simple moving average is $8.51. The company has a current ratio of 0.30, a quick ratio of 0.45 and a debt-to-equity ratio of 1.97.

SFL (NYSE:SFL) last issued its earnings results on Tuesday, August 19th. The shipping company reported $0.01 earnings per share for the quarter. The business had revenue of $192.59 million for the quarter, compared to the consensus estimate of $192.40 million. SFL had a net margin of 3.97% and a return on equity of 6.67%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.16 earnings per share.

SFL Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, September 12th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 9.6%. The ex-dividend date is Friday, September 12th. SFL’s payout ratio is presently 415.38%.

SFL 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.