SFL (NYSE:SFL) Hits New 52-Week Low - What's Next?

SFL Co. Ltd. (NYSE:SFL - Get Free Report) shares hit a new 52-week low on Wednesday . The stock traded as low as $9.08 and last traded at $9.12, with a volume of 1525086 shares changing hands. The stock had previously closed at $9.36.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SFL shares. Fearnley Fonds raised shares of SFL from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 21st. StockNews.com downgraded shares of SFL from a "hold" rating to a "sell" rating in a research report on Thursday, February 13th.

SFL Stock Performance

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 firm has a market cap of $1.25 billion, a P/E ratio of 8.92 and a beta of 0.66. The business's 50-day simple moving average is $10.28 and its 200 day simple moving average is $10.75.

SFL Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 11.99%. The ex-dividend date is Wednesday, March 12th. SFL's dividend payout ratio (DPR) is presently 106.93%.

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Institutional Investors Weigh In On SFL

Large investors have recently added to or reduced their stakes in the stock. Novak & Powell Financial Services Inc. grew its position in shares of SFL by 5.1% during the 4th quarter. Novak & Powell Financial Services Inc. now owns 41,281 shares of the shipping company's stock valued at $422,000 after acquiring an additional 1,996 shares during the period. ProShare Advisors LLC grew its position in shares of 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 during the period. Nuveen Asset Management LLC grew its position in shares of SFL by 27.6% during 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. grew its position in shares of SFL by 5.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,043,607 shares of the shipping company's stock valued at $10,666,000 after acquiring an additional 57,934 shares during the period. Finally, Ellevest Inc. grew its position in shares of SFL by 2.6% during the 4th quarter. Ellevest Inc. now owns 45,429 shares of the shipping company's stock valued at $464,000 after acquiring an additional 1,146 shares during the period. Institutional investors own 28.59% of the company's stock.

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.