Advisors Capital Management LLC Purchases 12,061 Shares of SFL Corporation Ltd. $SFL

Advisors Capital Management LLC grew its holdings in SFL Corporation Ltd. (NYSE:SFL) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 443,337 shares of the shipping company’s stock after purchasing an additional 12,061 shares during the quarter. Advisors Capital Management LLC owned about 0.30% of SFL worth $3,693,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SFL. PNC Financial Services Group Inc. boosted its holdings in SFL by 88.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 23,630 shares of the shipping company’s stock valued at $197,000 after purchasing an additional 11,118 shares during the period. SBI Securities Co. Ltd. raised its position in shares of SFL by 23.8% during the second quarter. SBI Securities Co. Ltd. now owns 115,717 shares of the shipping company’s stock valued at $964,000 after buying an additional 22,233 shares during the last quarter. Nwam LLC lifted its stake in shares of SFL by 17.6% in the second quarter. Nwam LLC now owns 17,665 shares of the shipping company’s stock valued at $147,000 after buying an additional 2,640 shares during the period. Prospera Financial Services Inc grew its position in SFL by 10.8% during the second quarter. Prospera Financial Services Inc now owns 37,324 shares of the shipping company’s stock worth $311,000 after buying an additional 3,627 shares in the last quarter. Finally, Savant Capital LLC acquired a new position in SFL in the 2nd quarter valued at approximately $163,000. 28.59% of the stock is currently owned by institutional investors.

SFL Stock Up 0.4%

Shares of SFL stock opened at $8.18 on Friday. The business has a fifty day simple moving average of $7.56 and a 200 day simple moving average of $8.31. The stock has a market cap of $1.19 billion, a PE ratio of 31.44 and a beta of 0.45. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 1.97. SFL Corporation Ltd. has a 12 month low of $6.73 and a 12 month high of $11.14.

SFL (NYSE:SFL) last announced its earnings results on Wednesday, November 12th. The shipping company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.08. The firm had revenue of $175.24 million for the quarter, compared to the consensus estimate of $172.45 million. SFL had a net margin of 3.97% and a return on equity of 6.67%. The business’s quarterly revenue was down 30.2% on a year-over-year basis. During the same period last year, the company posted $0.34 EPS.

SFL Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Stockholders of record on Friday, December 12th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.80 annualized dividend and a dividend yield of 9.8%. SFL’s dividend payout ratio is presently 307.69%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SFL. BTIG Research upped their target price on SFL from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings cut shares of SFL from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

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.