Corton Capital Inc. Boosts Stock Holdings in SFL Corporation Ltd. $SFL

Corton Capital Inc. lifted its stake in shares of SFL Corporation Ltd. (NYSE:SFL) by 27.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,893 shares of the shipping company’s stock after acquiring an additional 7,512 shares during the quarter. Corton Capital Inc.’s holdings in SFL were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. DAVENPORT & Co LLC grew its stake in shares of SFL by 9.3% during the second quarter. DAVENPORT & Co LLC now owns 13,722 shares of the shipping company’s stock worth $114,000 after purchasing an additional 1,166 shares in the last quarter. Signaturefd LLC grew its stake in shares of SFL by 65.3% during the second quarter. Signaturefd LLC now owns 3,392 shares of the shipping company’s stock worth $28,000 after purchasing an additional 1,340 shares in the last quarter. Brighton Jones LLC grew its stake 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 purchasing an additional 1,474 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of SFL by 43.1% during the second quarter. Parallel Advisors LLC now owns 6,010 shares of the shipping company’s stock worth $50,000 after purchasing an additional 1,810 shares in the last quarter. Finally, Quarry LP grew its stake in shares of SFL by 183.6% during the first quarter. Quarry LP now owns 3,706 shares of the shipping company’s stock worth $30,000 after purchasing an additional 2,399 shares in the last quarter. Hedge funds and other institutional investors own 28.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of SFL in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, SFL currently has a consensus rating of “Buy”.

SFL Price Performance

Shares of NYSE:SFL opened at $7.47 on Monday. The company has a 50-day simple moving average of $7.64 and a 200-day simple moving average of $8.32. SFL Corporation Ltd. has a one year low of $6.73 and a one year high of $11.18. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 28.71 and a beta of 0.49.

SFL (NYSE:SFL) last announced its earnings results on Tuesday, August 19th. The shipping company reported $0.01 EPS for the quarter. The business had revenue of $192.59 million during the quarter, compared to analysts’ expectations of $192.40 million. SFL had a net margin of 3.97% and a return on equity of 6.67%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 earnings per share.

SFL Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, September 12th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 10.7%. The ex-dividend date of this dividend was Friday, September 12th. SFL’s dividend payout ratio is currently 307.69%.

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.