Safe Bulkers, Inc (NYSE:SB) Short Interest Update

Safe Bulkers, Inc (NYSE:SB) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totaling 1,246,555 shares, a decline of 21.9% from the December 15th total of 1,595,978 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average daily volume of 379,466 shares, the days-to-cover ratio is presently 3.3 days. Based on an average daily volume of 379,466 shares, the days-to-cover ratio is presently 3.3 days. Approximately 2.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SB. Jefferies Financial Group raised their target price on Safe Bulkers from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Safe Bulkers in a report on Monday, December 29th. Finally, Zacks Research raised shares of Safe Bulkers from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Safe Bulkers presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC increased its stake in shares of Safe Bulkers by 2.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 116,912 shares of the shipping company’s stock valued at $588,000 after acquiring an additional 3,148 shares during the period. JPMorgan Chase & Co. increased its position in shares of Safe Bulkers by 2.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 479,143 shares of the shipping company’s stock valued at $2,127,000 after purchasing an additional 9,563 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Safe Bulkers in the 3rd quarter worth $46,000. Prelude Capital Management LLC acquired a new stake in shares of Safe Bulkers in the third quarter valued at $288,000. Finally, Bank of America Corp DE lifted its holdings in shares of Safe Bulkers by 127.7% in the third quarter. Bank of America Corp DE now owns 103,891 shares of the shipping company’s stock valued at $461,000 after buying an additional 58,273 shares during the period. 21.69% of the stock is currently owned by institutional investors.

Safe Bulkers Stock Performance

Shares of SB traded down $0.07 during trading hours on Friday, reaching $5.14. 543,568 shares of the company’s stock traded hands, compared to its average volume of 451,882. Safe Bulkers has a twelve month low of $3.02 and a twelve month high of $5.54. The business’s fifty day simple moving average is $5.00 and its two-hundred day simple moving average is $4.55. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.72 and a quick ratio of 2.72. The firm has a market capitalization of $525.98 million, a price-to-earnings ratio of 14.28 and a beta of 1.06.

Safe Bulkers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Monday, December 8th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.20 annualized dividend and a yield of 3.9%. Safe Bulkers’s dividend payout ratio (DPR) is presently 55.56%.

Safe Bulkers Company Profile

Safe Bulkers Inc (NYSE: SB) is a dry bulk shipping company engaged in the ocean transport of commodities such as iron ore, coal, grain, and fertilizers. The company operates a modern fleet of vessels, including Panamax, Supramax and Kamsarmax bulk carriers, designed to serve a variety of trade routes and cargo types. Safe Bulkers’ fleet is employed under both time charter and voyage charter arrangements, offering flexibility to respond to market demand and optimize vessel utilization.

Founded in 2008, Safe Bulkers began trading its shares on the New York Stock Exchange in the same year, establishing itself as a publicly listed provider of dry bulk transportation services.