SFL (NYSE:SFL) Reaches New 12-Month Low - Should You Sell?

Shares of SFL Co. Ltd. (NYSE:SFL - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $8.66 and last traded at $8.73, with a volume of 2058845 shares. The stock had previously closed at $9.03.

Wall Street Analyst Weigh In

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

SFL Stock Performance

The firm has a 50 day moving average of $10.18 and a 200-day moving average of $10.67. The company has a market cap of $1.25 billion, a P/E ratio of 8.96 and a beta of 0.67. The company has a quick ratio of 0.50, a current ratio of 0.38 and a debt-to-equity ratio of 1.91.

SFL Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 11.94%. SFL's dividend payout ratio is presently 106.93%.

Institutional Investors Weigh In On SFL

Hedge funds have recently made changes to their positions in the stock. Novak & Powell Financial Services Inc. raised its stake in SFL by 5.1% in the fourth quarter. Novak & Powell Financial Services Inc. now owns 41,281 shares of the shipping company's stock valued at $422,000 after buying an additional 1,996 shares during the last quarter. ProShare Advisors LLC raised its position in shares of SFL by 63.5% in the 4th quarter. ProShare Advisors LLC now owns 36,786 shares of the shipping company's stock valued at $376,000 after purchasing an additional 14,283 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in SFL by 27.6% in the 4th quarter. Nuveen Asset Management LLC now owns 947,311 shares of the shipping company's stock worth $9,682,000 after purchasing an additional 204,884 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 worth $10,666,000 after purchasing an additional 57,934 shares during the last quarter. Finally, Ellevest Inc. increased its stake in 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 purchasing an additional 1,146 shares in the last quarter. 28.59% of the stock is currently owned by hedge funds and other institutional investors.

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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.