Safe Bulkers: Bet On Mid-Size Bulk Carriers With The Best In Class [Seeking Alpha]
Safe Bulkers, Inc ($0.001 par value) (SB)
Last safe bulkers, inc ($0.001 par value) earnings: 2/26 04:05 pm
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US:NYSE Investor Relations:
safebulkers.com/invest_stock.htm
Company Research
Source: Seeking Alpha
In 2023, SB realized YoY declining revenue and profits due to a weak market for small and midsize bulkers. SB offers secure dividends with a 4.1% TTM yield. In 4Q23, the company announced a share repurchase program, too. SB stock trades at 49% PNAV and has a 34% gross LTV. Given its fleet, balance sheet, and dividend yields, SB offers the best value among its competitors. Note: I previously covered Safe Bulkers ( NYSE: SB ) in January 2024. In my last note on SB, I pointed to the company's fleet specification (10Y fleet average age and 47% of the vessels are scrubbers equipped). Besides that, SB maintains a prudent capital structure, with 57% total debt to equity and 37.4% total liabilities to total assets. SB distributes dividends with adequate yield secured by a low payout ratio. My conclusion was a strong buy. Since then, SB returned 16%. In today's article, I review the last financial figures published on February 28, 2024, and discuss the company's valuation and rating.
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News
- Safe Bulkers, Inc. Reports First Quarter 2024 Results and Declares Dividend on Common Stock [Yahoo! Finance]Yahoo! Finance
- Safe Bulkers, Inc. Reports First Quarter 2024 Results and Declares Dividend on Common StockGlobeNewswire
- Is Safe Bulkers (SB) Stock Undervalued Right Now? [Yahoo! Finance]Yahoo! Finance
- Safe Bulkers, Inc. Announces Agreement for the Acquisition of One Newbuild Japanese Kamsarmax Class Dry-bulk Vessel [Yahoo! Finance]Yahoo! Finance
- Safe Bulkers, Inc. Announces Agreement for the Acquisition of One Newbuild Japanese Kamsarmax Class Dry-bulk VesselGlobeNewswire
SB
Earnings
- 2/12/24 - Beat
SB
Sec Filings
- 4/29/24 - Form 6-K
- 4/26/24 - Form 6-K
- 4/3/24 - Form 6-K
- SB's page on the SEC website