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

Safe Bulkers, Inc. (NYSE:SB - Get Free Report) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 2,150,000 shares, a growth of 24.3% from the April 30th total of 1,730,000 shares. Currently, 3.9% of the company's stock are sold short. Based on an average trading volume of 554,000 shares, the days-to-cover ratio is presently 3.9 days.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reissued a "buy" rating and issued a $5.00 price target on shares of Safe Bulkers in a report on Tuesday, May 20th.

Safe Bulkers Stock Up 1.4%

Shares of SB stock traded up $0.06 on Thursday, hitting $3.87. 404,281 shares of the stock were exchanged, compared to its average volume of 581,274. The company has a current ratio of 1.91, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. Safe Bulkers has a fifty-two week low of $3.02 and a fifty-two week high of $6.33. The firm has a market capitalization of $406.98 million, a P/E ratio of 4.66 and a beta of 1.17. The business has a 50-day moving average of $3.50 and a 200 day moving average of $3.63.

Safe Bulkers (NYSE:SB - Get Free Report) last released its quarterly earnings data on Monday, May 19th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.02. The company had revenue of $64.35 million during the quarter, compared to analysts' expectations of $57.92 million. Safe Bulkers had a return on equity of 10.04% and a net margin of 31.65%. Equities analysts anticipate that Safe Bulkers will post 0.62 EPS for the current year.

Safe Bulkers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 5.17%. The ex-dividend date is Friday, June 6th. Safe Bulkers's payout ratio is 29.85%.

Institutional Investors Weigh In On Safe Bulkers

A number of hedge funds and other institutional investors have recently bought and sold shares of SB. Aigen Investment Management LP bought a new stake in Safe Bulkers in the first quarter worth approximately $49,000. Graham Capital Management L.P. bought a new position in Safe Bulkers during the fourth quarter worth about $49,000. Foster Group Inc. purchased a new position in Safe Bulkers during the 1st quarter valued at about $57,000. Mraz Amerine & Associates Inc. raised its holdings in shares of Safe Bulkers by 23.6% in the 1st quarter. Mraz Amerine & Associates Inc. now owns 16,500 shares of the shipping company's stock valued at $62,000 after acquiring an additional 3,155 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Safe Bulkers by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 17,008 shares of the shipping company's stock worth $61,000 after acquiring an additional 5,596 shares during the last quarter. Institutional investors own 21.69% of the company's stock.

About Safe Bulkers

Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. The company has a fleet of 47 drybulk vessels having an aggregate carrying capacity of 4,719,600 deadweight tons.