SFL (NYSE:SFL) Hits New 52-Week Low - Here's What Happened

SFL Co. Ltd. (NYSE:SFL - Get Free Report) reached a new 52-week low during trading on Thursday . The stock traded as low as $9.31 and last traded at $9.43, with a volume of 108592 shares traded. The stock had previously closed at $9.54.

Wall Street Analysts Forecast Growth

SFL has been the topic of several recent analyst reports. StockNews.com downgraded shares of SFL from a "hold" rating to a "sell" rating in a research note on Thursday, February 13th. Fearnley Fonds upgraded SFL from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 21st.

SFL Stock Down 0.8 %

The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.50 and a current ratio of 0.38. The company has a fifty day simple moving average of $10.35 and a two-hundred day simple moving average of $10.83. The firm has a market capitalization of $1.29 billion, a PE ratio of 9.22 and a beta of 0.66.

SFL Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 11.59%. The ex-dividend date of this dividend is Wednesday, March 12th. SFL's payout ratio is 106.93%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Novak & Powell Financial Services Inc. boosted its stake in shares of SFL by 5.1% during the fourth quarter. Novak & Powell Financial Services Inc. now owns 41,281 shares of the shipping company's stock valued at $422,000 after purchasing an additional 1,996 shares in the last quarter. ProShare Advisors LLC boosted its position in SFL by 63.5% during the 4th quarter. ProShare Advisors LLC now owns 36,786 shares of the shipping company's stock valued at $376,000 after acquiring an additional 14,283 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of SFL by 27.6% in the 4th quarter. Nuveen Asset Management LLC now owns 947,311 shares of the shipping company's stock valued at $9,682,000 after acquiring an additional 204,884 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of SFL by 5.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,043,607 shares of the shipping company's stock worth $10,666,000 after acquiring an additional 57,934 shares in the last quarter. Finally, Ellevest Inc. raised its position in shares of SFL by 2.6% in the 4th quarter. Ellevest Inc. now owns 45,429 shares of the shipping company's stock worth $464,000 after acquiring an additional 1,146 shares in the last quarter. Hedge funds and other institutional investors own 28.59% of the company's stock.

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.