Voya Investment Management LLC Sells 203,692 Shares of SFL Corporation Ltd. $SFL

Voya Investment Management LLC lessened its stake in shares of SFL Corporation Ltd. (NYSE:SFL) by 37.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 346,643 shares of the shipping company’s stock after selling 203,692 shares during the period. Voya Investment Management LLC owned about 0.24% of SFL worth $2,610,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SFL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in SFL by 150.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,618,303 shares of the shipping company’s stock worth $21,470,000 after purchasing an additional 1,574,696 shares during the period. American Century Companies Inc. grew its position in shares of SFL by 27.2% during the 2nd quarter. American Century Companies Inc. now owns 3,297,605 shares of the shipping company’s stock worth $27,469,000 after buying an additional 704,710 shares in the last quarter. Petrus Trust Company LTA increased its stake in shares of SFL by 419.8% during the first quarter. Petrus Trust Company LTA now owns 151,291 shares of the shipping company’s stock valued at $1,241,000 after buying an additional 122,187 shares during the period. Sigma Planning Corp raised its holdings in shares of SFL by 89.1% in the second quarter. Sigma Planning Corp now owns 233,577 shares of the shipping company’s stock valued at $1,946,000 after acquiring an additional 110,042 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in SFL in the first quarter worth about $830,000. Hedge funds and other institutional investors own 28.59% of the company’s stock.

SFL Stock Up 1.0%

Shares of SFL stock opened at $7.80 on Friday. The stock’s fifty day moving average price is $7.81 and its 200 day moving average price is $8.21. SFL Corporation Ltd. has a 1-year low of $6.73 and a 1-year high of $11.14. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -779.50 and a beta of 0.45. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.42 and a quick ratio of 0.42.

SFL (NYSE:SFL) last issued its quarterly earnings results on Wednesday, November 12th. The shipping company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.08. SFL had a positive return on equity of 3.05% and a negative net margin of 0.20%.The business had revenue of $178.21 million during the quarter, compared to the consensus estimate of $172.45 million. During the same quarter last year, the company earned $0.34 earnings per share. The company’s quarterly revenue was down 30.2% on a year-over-year basis.

SFL Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Shareholders of record on Friday, December 12th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 10.3%. The ex-dividend date of this dividend is Friday, December 12th. SFL’s payout ratio is currently -8,000.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SFL shares. BTIG Research raised their target price on shares of SFL from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Wall Street Zen lowered shares of SFL from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of SFL in a research note on Monday, December 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $11.00.

About SFL

Ship Finance International Limited (NYSE: SFL) is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.