State Street Corp Buys 51,022 Shares of SFL Co. Ltd. (NYSE:SFL)

State Street Corp raised its position 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 & Exchange Commission. The fund owned 2,074,341 shares of the shipping company’s stock after acquiring an additional 51,022 shares during the period. State Street Corp owned approximately 1.50% of SFL worth $24,000,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP boosted its position in shares of SFL by 428.2% during the third quarter. Quarry LP now owns 3,967 shares of the shipping company’s stock valued at $46,000 after buying an additional 3,216 shares during the period. Point72 DIFC Ltd purchased a new position in SFL during the 3rd quarter valued at $49,000. Millburn Ridgefield Corp purchased a new position in SFL during the 3rd quarter valued at $92,000. Centiva Capital LP bought a new position in SFL in the 3rd quarter valued at $240,000. Finally, PDT Partners LLC increased its stake in SFL by 25.3% in the third quarter. PDT Partners LLC now owns 260,858 shares of the shipping company’s stock worth $3,018,000 after purchasing an additional 52,644 shares during the period. Hedge funds and other institutional investors own 28.59% of the company’s stock.

SFL Stock Up 0.2 %

SFL stock opened at $9.74 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 1.93. The firm has a market cap of $1.35 billion, a P/E ratio of 8.77 and a beta of 0.67. The business has a fifty day moving average of $10.58 and a two-hundred day moving average of $11.68. SFL Co. Ltd. has a twelve month low of $9.64 and a twelve month high of $14.62.

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

SFL Announces Dividend

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

Analyst Ratings Changes

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

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.