Bramshill Investments LLC acquired a new position in shares of Ship Finance International Limited (NYSE:SFL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 59,791 shares of the shipping company’s stock, valued at approximately $894,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Albert D Mason Inc. boosted its stake in Ship Finance International by 18.9% during the 2nd quarter. Albert D Mason Inc. now owns 74,155 shares of the shipping company’s stock worth $1,109,000 after acquiring an additional 11,785 shares during the last quarter. Martingale Asset Management L P bought a new position in Ship Finance International during the 2nd quarter worth approximately $2,243,000. Canada Pension Plan Investment Board boosted its stake in Ship Finance International by 860,000.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 86,010 shares of the shipping company’s stock worth $1,286,000 after acquiring an additional 86,000 shares during the last quarter. BlackRock Inc. boosted its stake in Ship Finance International by 2.5% during the 1st quarter. BlackRock Inc. now owns 2,792,346 shares of the shipping company’s stock worth $39,930,000 after acquiring an additional 67,853 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in Ship Finance International during the 1st quarter worth approximately $147,000. 31.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of SFL opened at $13.80 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.66 and a current ratio of 0.50. Ship Finance International Limited has a twelve month low of $13.55 and a twelve month high of $15.98. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 11.60 and a beta of 1.20.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Friday, September 14th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 10.14%. The ex-dividend date of this dividend is Thursday, September 13th. Ship Finance International’s payout ratio is currently 117.65%.
Several research firms recently weighed in on SFL. Zacks Investment Research raised shares of Ship Finance International from a “sell” rating to a “hold” rating in a research note on Thursday. TheStreet lowered shares of Ship Finance International from a “b” rating to a “c+” rating in a research note on Thursday, August 23rd. ValuEngine lowered shares of Ship Finance International from a “hold” rating to a “sell” rating in a research note on Thursday. Seaport Global Securities raised shares of Ship Finance International from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Friday, June 1st. Finally, Nordea Equity Research raised shares of Ship Finance International from a “hold” rating to a “buy” rating in a research note on Thursday, September 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.13.
About Ship Finance International
Ship Finance International Limited owns and operates vessels and offshore related assets primarily in Bermuda, Cyprus, Malta, Liberia, Norway, the United Kingdom, and the Marshall Islands. It is also involved in the charter, purchase, and sale of assets. In addition, the company operates in various sectors of the shipping and offshore industry, including oil transportation, dry bulk shipments, chemical transportation, oil product transportation, container transportation, car transportation, drilling rigs, and offshore supply vessels.
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