Safe Bulkers, Inc (NYSE:SB) Sees Significant Decline in Short Interest

Safe Bulkers, Inc (NYSE:SB) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 1,246,555 shares, a decrease of 21.9% from the December 15th total of 1,595,978 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average daily trading volume, of 379,466 shares, the short-interest ratio is currently 3.3 days. Based on an average daily trading volume, of 379,466 shares, the short-interest ratio is currently 3.3 days. Currently, 2.0% of the company’s stock are short sold.

Safe Bulkers Stock Performance

NYSE:SB traded down $0.07 during trading hours on Friday, reaching $5.14. 543,568 shares of the stock were exchanged, compared to its average volume of 451,882. The stock has a market capitalization of $525.98 million, a P/E ratio of 14.28 and a beta of 1.06. The firm has a 50 day simple moving average of $5.00 and a 200-day simple moving average of $4.55. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.58. Safe Bulkers has a 52 week low of $3.02 and a 52 week high of $5.54.

Safe Bulkers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Monday, December 8th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Monday, December 8th. Safe Bulkers’s payout ratio is currently 55.56%.

Institutional Trading of Safe Bulkers

A number of institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its holdings in shares of Safe Bulkers by 6.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,630,636 shares of the shipping company’s stock valued at $6,017,000 after buying an additional 91,662 shares during the period. American Century Companies Inc. lifted its holdings in Safe Bulkers by 16.6% in the second quarter. American Century Companies Inc. now owns 1,441,089 shares of the shipping company’s stock worth $5,202,000 after acquiring an additional 204,874 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Safe Bulkers by 5.0% in the second quarter. Ameriprise Financial Inc. now owns 1,314,711 shares of the shipping company’s stock valued at $4,739,000 after acquiring an additional 62,931 shares during the period. Bridgeway Capital Management LLC grew its holdings in shares of Safe Bulkers by 5.1% during the second quarter. Bridgeway Capital Management LLC now owns 1,175,338 shares of the shipping company’s stock valued at $4,243,000 after purchasing an additional 57,009 shares during the last quarter. Finally, Denali Advisors LLC grew its holdings in shares of Safe Bulkers by 2.7% during the third quarter. Denali Advisors LLC now owns 955,469 shares of the shipping company’s stock valued at $4,242,000 after purchasing an additional 25,388 shares during the last quarter. 21.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

About Safe Bulkers

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.