Advisors Capital Management LLC cut its position in Ship Finance International Limited (NYSE:SFL) by 9.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 179,382 shares of the shipping company’s stock after selling 19,588 shares during the period. Advisors Capital Management LLC owned 0.15% of Ship Finance International worth $2,682,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of Ship Finance International by 51.0% in the 2nd quarter. BlackRock Inc. now owns 4,217,374 shares of the shipping company’s stock valued at $63,049,000 after purchasing an additional 1,425,028 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Ship Finance International by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,990,056 shares of the shipping company’s stock valued at $44,702,000 after purchasing an additional 58,348 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Ship Finance International by 23.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,627,417 shares of the shipping company’s stock valued at $39,280,000 after purchasing an additional 498,524 shares during the last quarter. Guggenheim Capital LLC increased its position in shares of Ship Finance International by 1.1% in the 1st quarter. Guggenheim Capital LLC now owns 655,925 shares of the shipping company’s stock valued at $9,380,000 after purchasing an additional 6,885 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Ship Finance International by 146.1% in the 1st quarter. JPMorgan Chase & Co. now owns 567,852 shares of the shipping company’s stock valued at $8,120,000 after purchasing an additional 337,073 shares during the last quarter. 31.09% of the stock is currently owned by institutional investors.

NYSE SFL opened at $14.15 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $1.74 billion, a P/E ratio of 11.89 and a beta of 1.20. Ship Finance International Limited has a 12 month low of $12.95 and a 12 month high of $15.98.

Ship Finance International (NYSE:SFL) last posted its earnings results on Wednesday, August 22nd. The shipping company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.10. The firm had revenue of $96.80 million for the quarter, compared to the consensus estimate of $101.65 million. Ship Finance International had a net margin of 23.55% and a return on equity of 9.56%. During the same period last year, the firm posted $0.35 EPS. research analysts forecast that Ship Finance International Limited will post 1.11 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Friday, September 14th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.89%. The ex-dividend date of this dividend is Thursday, September 13th. Ship Finance International’s dividend payout ratio (DPR) is 117.65%.

SFL has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Ship Finance International from a “sell” rating to a “hold” rating in a research report on Thursday, May 31st. Seaport Global Securities raised shares of Ship Finance International from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Friday, June 1st. Finally, TheStreet downgraded shares of Ship Finance International from a “b” rating to a “c+” rating in a research report on Thursday, August 23rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Ship Finance International currently has a consensus rating of “Hold” and an average target price of $16.13.

Ship Finance International Company Profile

Ship Finance International Limited owns and operates vessels and offshore related assets primarily in Bermuda, Cyprus, Malta, Liberia, Norway, the United Kingdom, and the Marshall Islands. It is also involved in the charter, purchase, and sale of assets. In addition, the company operates in various sectors of the shipping and offshore industry, including oil transportation, dry bulk shipments, chemical transportation, oil product transportation, container transportation, car transportation, drilling rigs, and offshore supply vessels.

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Institutional Ownership by Quarter for Ship Finance International (NYSE:SFL)

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