Everstar Asset Management LLC Buys Shares of 61,098 SFL Corporation Ltd. $SFL

Everstar Asset Management LLC bought a new stake in SFL Corporation Ltd. (NYSE:SFL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 61,098 shares of the shipping company’s stock, valued at approximately $509,000.

Other hedge funds have also recently modified their holdings of the company. American Century Companies Inc. grew its position in SFL by 27.2% in the 2nd quarter. American Century Companies Inc. now owns 3,297,605 shares of the shipping company’s stock valued at $27,469,000 after buying an additional 704,710 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in SFL by 150.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,618,303 shares of the shipping company’s stock worth $21,470,000 after buying an additional 1,574,696 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of SFL by 2.0% in the 1st quarter. Empowered Funds LLC now owns 752,960 shares of the shipping company’s stock worth $6,174,000 after acquiring an additional 15,109 shares during the period. Nuveen LLC purchased a new stake in shares of SFL in the first quarter valued at about $4,172,000. Finally, Advisors Capital Management LLC increased its stake in shares of SFL by 2.8% during the second quarter. Advisors Capital Management LLC now owns 443,337 shares of the shipping company’s stock worth $3,693,000 after acquiring an additional 12,061 shares during the period. 28.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of SFL in a report on Tuesday, November 25th. BTIG Research raised their price target on SFL from $10.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $11.00.

SFL Stock Up 1.3%

SFL stock opened at $8.27 on Monday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 1.97. The company’s 50-day moving average price is $7.58 and its 200 day moving average price is $8.30. SFL Corporation Ltd. has a 52 week low of $6.73 and a 52 week high of $11.14. The company has a market cap of $1.21 billion, a P/E ratio of 31.81 and a beta of 0.45.

SFL (NYSE:SFL) last posted its quarterly earnings results on Wednesday, November 12th. The shipping company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. The company had revenue of $175.24 million during the quarter, compared to the consensus estimate of $172.45 million. SFL had a net margin of 3.97% and a return on equity of 6.67%. The company’s revenue for the quarter was down 30.2% on a year-over-year basis. During the same period last year, the firm earned $0.34 EPS.

SFL Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Shareholders of record on Friday, December 12th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 9.7%. The ex-dividend date is Friday, December 12th. SFL’s payout ratio is presently -8,000.00%.

SFL Company 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.