UBS Group AG cut its holdings in shares of SFL Corporation Ltd. (NYSE:SFL – Free Report) by 11.0% in the 4th quarter, HoldingsChannel reports. The fund owned 406,645 shares of the shipping company’s stock after selling 50,368 shares during the period. UBS Group AG’s holdings in SFL were worth $3,176,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in SFL by 789.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the shipping company’s stock worth $28,000 after purchasing an additional 2,944 shares during the last quarter. Triumph Capital Management purchased a new position in SFL during the third quarter worth about $32,000. Signaturefd LLC boosted its holdings in SFL by 30.5% during the fourth quarter. Signaturefd LLC now owns 6,008 shares of the shipping company’s stock worth $47,000 after purchasing an additional 1,405 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new position in SFL during the third quarter worth about $79,000. Finally, Evergreen Capital Management LLC purchased a new position in SFL during the fourth quarter worth about $83,000. 28.59% of the stock is owned by institutional investors.
SFL Stock Up 0.0%
SFL stock opened at $12.28 on Monday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.32 and a current ratio of 0.32. The stock has a market cap of $1.78 billion, a PE ratio of 51.19 and a beta of 0.42. SFL Corporation Ltd. has a fifty-two week low of $6.73 and a fifty-two week high of $12.94. The firm’s 50-day simple moving average is $11.19 and its 200 day simple moving average is $9.62.
SFL Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be paid a $0.22 dividend. The ex-dividend date is Wednesday, May 27th. This is a positive change from SFL’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 7.2%. SFL’s dividend payout ratio is presently 333.33%.
Analyst Ratings Changes
SFL has been the topic of several analyst reports. Wall Street Zen upgraded shares of SFL from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. BTIG Research boosted their price target on shares of SFL from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings upgraded shares of SFL from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, SFL has an average rating of “Moderate Buy” and a consensus target price of $14.00.
Get Our Latest Research Report on SFL
SFL Profile
Ship Finance International Limited (NYSE: SFL) is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.
In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.
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