SFL Corporation Ltd. $SFL Stake Reduced by Trexquant Investment LP

Trexquant Investment LP cut its holdings in SFL Corporation Ltd. (NYSE:SFL) by 59.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 168,853 shares of the shipping company’s stock after selling 251,092 shares during the quarter. Trexquant Investment LP owned about 0.12% of SFL worth $1,385,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Deutsche Bank AG raised its position in SFL by 63.1% in the fourth quarter. Deutsche Bank AG now owns 97,240 shares of the shipping company’s stock worth $994,000 after acquiring an additional 37,622 shares in the last quarter. DAVENPORT & Co LLC raised its position in SFL by 16.2% in the first quarter. DAVENPORT & Co LLC now owns 12,556 shares of the shipping company’s stock worth $103,000 after acquiring an additional 1,750 shares in the last quarter. Bessemer Group Inc. purchased a new position in SFL in the 1st quarter worth about $76,000. Bank of New York Mellon Corp increased its stake in SFL by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 1,314,878 shares of the shipping company’s stock worth $10,782,000 after purchasing an additional 69,667 shares in the last quarter. Finally, Sigma Planning Corp increased its stake in SFL by 803.8% in the 1st quarter. Sigma Planning Corp now owns 123,535 shares of the shipping company’s stock worth $1,013,000 after purchasing an additional 109,866 shares in the last quarter. 28.59% of the stock is currently owned by institutional investors.

SFL Trading Up 1.5%

Shares of SFL opened at $8.25 on Friday. The business’s 50-day moving average price is $8.83 and its 200 day moving average price is $8.54. The stock has a market capitalization of $1.20 billion, a P/E ratio of 31.71 and a beta of 0.54. SFL Corporation Ltd. has a 1-year low of $6.78 and a 1-year high of $11.85. The company has a current ratio of 0.30, a quick ratio of 0.45 and a debt-to-equity ratio of 1.97.

SFL (NYSE:SFL) last issued its quarterly earnings results on Tuesday, August 19th. The shipping company reported $0.01 earnings per share for the quarter. The firm had revenue of $192.59 million for the quarter, compared to analysts’ expectations of $192.40 million. SFL had a return on equity of 6.67% and a net margin of 3.97%.SFL’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS.

SFL Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, September 12th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.80 dividend on an annualized basis and a yield of 9.7%. SFL’s dividend payout ratio (DPR) is currently 415.38%.

SFL 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.