SFL (NYSE:SFL) Hits New 1-Year Low – Time to Sell?

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. StockNews.com downgraded shares of SFL from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Fearnley Fonds upgraded SFL from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st.

SFL Stock Down 0.8 %

The company has a quick ratio of 0.50, a current ratio of 0.38 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 9.22 and a beta of 0.66. The stock has a 50 day moving average price of $10.35 and a 200 day moving average price of $10.83.

SFL Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 12th. This represents a $1.08 dividend on an annualized basis and a yield of 11.59%. SFL’s payout ratio is 106.93%.

Institutional Investors Weigh In On SFL

A number of hedge funds and other institutional investors have recently modified their holdings of SFL. Novak & Powell Financial Services Inc. boosted its position in SFL by 5.1% during the 4th quarter. Novak & Powell Financial Services Inc. now owns 41,281 shares of the shipping company’s stock valued at $422,000 after buying an additional 1,996 shares during the period. ProShare Advisors LLC boosted its holdings in shares of SFL by 63.5% during the 4th quarter. ProShare Advisors LLC now owns 36,786 shares of the shipping company’s stock valued at $376,000 after acquiring an additional 14,283 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of SFL by 27.6% during the 4th quarter. Nuveen Asset Management LLC now owns 947,311 shares of the shipping company’s stock valued at $9,682,000 after purchasing an additional 204,884 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in SFL by 5.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,043,607 shares of the shipping company’s stock worth $10,666,000 after buying an additional 57,934 shares during the period. Finally, Ellevest Inc. raised its stake in SFL by 2.6% during the 4th quarter. Ellevest Inc. now owns 45,429 shares of the shipping company’s stock valued at $464,000 after purchasing an additional 1,146 shares during the period. 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.