StockNews.com upgraded shares of Safe Bulkers (NYSE:SB – Free Report) from a hold rating to a buy rating in a research report report published on Friday morning.
Separately, Jefferies Financial Group reaffirmed a “buy” rating and issued a $6.00 target price on shares of Safe Bulkers in a research note on Thursday, November 14th.
Check Out Our Latest Stock Report on Safe Bulkers
Safe Bulkers Stock Down 2.1 %
Safe Bulkers Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Monday, December 2nd will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.20 annualized dividend and a dividend yield of 5.43%. Safe Bulkers’s dividend payout ratio (DPR) is 22.22%.
Institutional Trading of Safe Bulkers
Several institutional investors have recently made changes to their positions in the company. nVerses Capital LLC increased its position in shares of Safe Bulkers by 269.0% during the 3rd quarter. nVerses Capital LLC now owns 10,700 shares of the shipping company’s stock worth $55,000 after purchasing an additional 7,800 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Safe Bulkers during the third quarter valued at about $86,000. Banque Cantonale Vaudoise raised its stake in shares of Safe Bulkers by 14.4% in the 2nd quarter. Banque Cantonale Vaudoise now owns 16,863 shares of the shipping company’s stock valued at $98,000 after acquiring an additional 2,129 shares during the period. Aigen Investment Management LP purchased a new stake in shares of Safe Bulkers in the 3rd quarter valued at approximately $90,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Safe Bulkers in the 2nd quarter worth approximately $104,000. Hedge funds and other 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.
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