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

Safe Bulkers, Inc (NYSE:SB) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 1,789,089 shares, a growth of 20.6% from the February 26th total of 1,484,027 shares. Based on an average daily trading volume, of 873,969 shares, the days-to-cover ratio is currently 2.0 days. Approximately 2.9% of the company’s stock are short sold.

Safe Bulkers Stock Performance

Safe Bulkers stock traded up $0.17 during midday trading on Wednesday, reaching $6.50. 169,865 shares of the company’s stock were exchanged, compared to its average volume of 723,748. The stock’s 50-day simple moving average is $6.02 and its 200 day simple moving average is $5.22. The firm has a market cap of $664.18 million, a price-to-earnings ratio of 21.68 and a beta of 1.04. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.63 and a current ratio of 2.90. Safe Bulkers has a 52 week low of $3.02 and a 52 week high of $6.68.

Safe Bulkers (NYSE:SB) last released its quarterly earnings data on Saturday, February 14th. The shipping company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. Safe Bulkers had a return on equity of 4.91% and a net margin of 13.99%.The firm had revenue of $72.57 million for the quarter, compared to analyst estimates of $70.00 million. On average, analysts expect that Safe Bulkers will post 0.62 earnings per share for the current fiscal year.

Safe Bulkers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.20 annualized dividend and a yield of 3.1%. Safe Bulkers’s dividend payout ratio (DPR) is currently 66.67%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Safe Bulkers in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.00.

Hedge Funds Weigh In On Safe Bulkers

Several large investors have recently modified their holdings of SB. AQR Capital Management LLC boosted its holdings in shares of Safe Bulkers by 67.0% during the 1st quarter. AQR Capital Management LLC now owns 68,052 shares of the shipping company’s stock worth $251,000 after buying an additional 27,292 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Safe Bulkers by 6.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,630,636 shares of the shipping company’s stock worth $6,017,000 after purchasing an additional 91,662 shares during the period. Empowered Funds LLC lifted its holdings in Safe Bulkers by 5.4% during the 1st quarter. Empowered Funds LLC now owns 576,229 shares of the shipping company’s stock worth $2,126,000 after purchasing an additional 29,667 shares during the last quarter. Jane Street Group LLC lifted its holdings in Safe Bulkers by 3.7% during the 1st quarter. Jane Street Group LLC now owns 135,870 shares of the shipping company’s stock worth $501,000 after purchasing an additional 4,836 shares during the last quarter. Finally, Cetera Investment Advisers bought a new stake in Safe Bulkers in the 2nd quarter valued at $41,000. 21.69% of the stock is owned by institutional investors.

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.