Wealthstar Advisors LLC Trims Stock Holdings in SFL Co. Ltd. (NYSE:SFL)

Wealthstar Advisors LLC decreased its position in SFL Co. Ltd. (NYSE:SFL) by 11.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,873 shares of the shipping company’s stock after selling 5,289 shares during the period. Wealthstar Advisors LLC’s holdings in SFL were worth $552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GoalVest Advisory LLC purchased a new position in SFL in the 1st quarter worth $33,000. International Assets Investment Management LLC raised its stake in SFL by 11.9% in the 1st quarter. International Assets Investment Management LLC now owns 65,220 shares of the shipping company’s stock worth $868,000 after acquiring an additional 6,916 shares during the last quarter. HighPoint Advisor Group LLC purchased a new position in SFL in the 4th quarter worth $319,000. Virtu Financial LLC purchased a new position in SFL in the 4th quarter worth $200,000. Finally, Novak & Powell Financial Services Inc. purchased a new position in SFL in the 4th quarter worth $516,000. Hedge funds and other institutional investors own 28.59% of the company’s stock.

SFL Stock Performance

Shares of NYSE SFL traded up $0.19 during trading on Thursday, reaching $14.04. 343,493 shares of the company traded hands, compared to its average volume of 547,438. The firm’s fifty day simple moving average is $13.82 and its 200 day simple moving average is $12.96. The stock has a market cap of $1.95 billion, a P/E ratio of 14.47 and a beta of 0.66. SFL Co. Ltd. has a 12-month low of $9.19 and a 12-month high of $14.62. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 1.55.

SFL (NYSE:SFL) last released its quarterly earnings data on Tuesday, May 14th. The shipping company reported $0.37 earnings per share for the quarter. SFL had a return on equity of 11.47% and a net margin of 15.21%. The business had revenue of $229.06 million during the quarter.

SFL Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Tuesday, May 28th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 7.69%. The ex-dividend date of this dividend was Friday, May 24th. This is a positive change from SFL’s previous quarterly dividend of $0.26. SFL’s payout ratio is currently 111.34%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SFL. BTIG Research lifted their price objective on SFL from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. StockNews.com upgraded SFL from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.33.

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.