SFL Co. Ltd. (SFL) To Go Ex-Dividend on June 12th

SFL Co. Ltd. (NYSE:SFL) declared a quarterly dividend on Thursday, May 15th, Wall Street Journal reports. Stockholders of record on Thursday, June 12th will be given a dividend of 0.27 per share by the shipping company on Friday, June 27th. This represents a $1.08 annualized dividend and a dividend yield of 12.40%. The ex-dividend date of this dividend is Thursday, June 12th.

SFL has a payout ratio of 372.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

SFL Price Performance

SFL stock opened at $8.71 on Tuesday. The company has a fifty day moving average price of $8.17 and a 200-day moving average price of $9.25. The company has a market capitalization of $1.27 billion, a P/E ratio of 8.62 and a beta of 0.51. SFL has a 52-week low of $6.78 and a 52-week high of $14.14. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.50 and a current ratio of 0.38.

SFL (NYSE:SFL) last announced its earnings results on Wednesday, May 14th. The shipping company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. SFL had a net margin of 14.45% and a return on equity of 12.41%. The business had revenue of $186.74 million during the quarter, compared to the consensus estimate of $183.82 million. During the same quarter last year, the firm earned $0.36 earnings per share. SFL’s quarterly revenue was down 18.5% on a year-over-year basis.

Institutional Investors Weigh In On SFL

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC increased its position in shares of SFL by 8.2% during the fourth quarter. Brighton Jones LLC now owns 19,395 shares of the shipping company’s stock worth $198,000 after acquiring an additional 1,474 shares in the last quarter. AQR Capital Management LLC increased its position in shares of SFL by 52.8% during the first quarter. AQR Capital Management LLC now owns 21,060 shares of the shipping company’s stock worth $173,000 after acquiring an additional 7,273 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of SFL by 122.0% during the first quarter. Jane Street Group LLC now owns 181,556 shares of the shipping company’s stock worth $1,489,000 after acquiring an additional 99,767 shares in the last quarter. 28.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of SFL from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th.

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.