SFL Co. Ltd. (NYSE:SFL) Shares Acquired by State Street Corp

State Street Corp increased its stake in shares of SFL Co. Ltd. (NYSE:SFL) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,074,341 shares of the shipping company’s stock after buying an additional 51,022 shares during the quarter. State Street Corp’s holdings in SFL were worth $24,000,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its position in SFL by 3.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 29,908 shares of the shipping company’s stock worth $415,000 after acquiring an additional 919 shares during the period. Acadian Asset Management LLC increased its holdings in SFL by 151.8% in the 2nd quarter. Acadian Asset Management LLC now owns 321,211 shares of the shipping company’s stock worth $4,449,000 after buying an additional 193,648 shares during the period. Doheny Asset Management CA raised its position in SFL by 18.1% during the 2nd quarter. Doheny Asset Management CA now owns 307,833 shares of the shipping company’s stock worth $4,273,000 after buying an additional 47,116 shares during the last quarter. American Century Companies Inc. raised its position in SFL by 19.8% during the 2nd quarter. American Century Companies Inc. now owns 2,803,656 shares of the shipping company’s stock worth $38,915,000 after buying an additional 462,789 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in SFL by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,995,617 shares of the shipping company’s stock valued at $124,859,000 after acquiring an additional 64,875 shares during the period. 28.59% of the stock is owned by institutional investors and hedge funds.

SFL Stock Performance

Shares of NYSE SFL opened at $9.74 on Monday. The company has a market capitalization of $1.35 billion, a PE ratio of 8.77 and a beta of 0.67. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.50 and a current ratio of 0.50. The company’s fifty day moving average price is $10.58 and its 200 day moving average price is $11.68. SFL Co. Ltd. has a 1 year low of $9.64 and a 1 year high of $14.62.

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

SFL Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, December 13th. This represents a $1.08 annualized dividend and a yield of 11.09%. SFL’s dividend payout ratio (DPR) is presently 97.30%.

Analyst Upgrades and Downgrades

Separately, Fearnley Fonds upgraded SFL from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st.

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.