Safe Bulkers (NYSE:SB) Downgraded to Hold Rating

On November 29, 2024, Safe Bulkers (NYSE:SB) received a downgrade from StockNews.com, shifting its rating from a buy to a hold in a report released to investors.

In contrast, Jefferies Financial Group maintained a positive outlook for the company's shares, reaffirming a "buy" rating and setting a price target of $6.00 for Safe Bulkers on November 14.

Latest Stock Performance

As of the latest trading day, Safe Bulkers' stock opened at $3.84. The company maintains a market capitalization of $410.04 million with a price-to-earnings (P/E) ratio of 4.27 and a beta of 0.95. Financial metrics show a debt-to-equity ratio of 0.52, and both its quick and current ratios stand at 1.34. Over the last 50 days, the stock has averaged $4.51, while its 200-day average price is $5.08. Safe Bulkers has experienced a twelve-month low of $3.45 and a high of $6.33.

Dividends Announced

Recently, Safe Bulkers announced its upcoming quarterly dividend, set to be paid on December 17. Shareholders on record as of December 2 will receive a dividend of $0.05 per share, which translates to an annualized dividend of $0.20, reflecting a yield of 5.21%. The ex-dividend date also falls on December 2, indicating when the stock is no longer eligible for the dividend. The company’s dividend payout ratio is a modest 22.22%.

Institutional Investment Activity

In recent months, various hedge funds have shown interest in Safe Bulkers. nVerses Capital LLC significantly increased its holdings by 269% in the third quarter, now owning 10,700 shares valued at $55,000 after purchasing an additional 7,800 shares. Intech Investment Management LLC also acquired a new position worth approximately $86,000 during the same quarter. Additionally, Banque Cantonale Vaudoise raised its stake by 14.4%, resulting in ownership of 16,863 shares valued at $98,000 after an increase of 2,129 shares. Other notable investments include Aigen Investment Management LP and Victory Capital Management Inc., both establishing new positions in the company. Overall, institutional investors and hedge funds currently hold 21.69% of Safe Bulkers' stock.

About Safe Bulkers

Safe Bulkers, Inc. and its subsidiaries specialize in marine drybulk transportation services. The company operates a fleet of 47 drybulk vessels that transport bulk cargoes such as coal, grain, and iron ore, boasting a total carrying capacity of 4,719,600 deadweight tons.

Conclusion

This recent downgrade in ratings may prompt investors to reevaluate their positions, while the dividend announcement and institutional investment activity suggest continued interest in Safe Bulkers' stock.

Safe, Bulkers, Stocks, Investment, Dividend