You know I liked Safe Bulkers (SB) above $8.00 per share. I really like it lately because the market participants are knocking the price down for no apparent reason. There is a sale going on for the high dividend stock Safe Bulkers. SB closed today at $7.70. This makes no sense.
Yes, the Baltic dry index is meandering lower due to tons of new capsize ships entering service. But all of Safe Bulkers capsizes are on long term contracts. Only two of their 16 ships are the capsizes. And they only have two more on the way out of about 11 new ships. Even their unfinished capsizes are on contract for much higher prices than the low numbers being talked about in the video.
The dividend is safe and yielding 7.8% and climbing as the stock price goes 1% lower today. The company has five year average earning power of $1.50 per share (easily enough to cover the $0.15 quarterly dividend). It also has a good balance sheet. So, I don’t believe me. Well watch this video to hear it from someone else who is an analyst for some Wall Street firm.
Boyden Recommends Safe Bulkers, Diana Shipping, Navios
May 17 (Bloomberg) -- Natasha Boyden, an analyst with Cantor Fitzgerald LP, talks about her investment strategy for shipping industry stocks and her recommendations of Safe Bulkers Inc., Diana Shipping Inc. and Navios Maritime Acquisition Corp. shares. Boyden speaks with Pimm Fox on Bloomberg Television's "Taking Stock." (Source: Bloomberg) (Bloomberg)
Here is the video link in case the embedded video code doesn’t work: http://www.washingtonpost.com/business/boyden-recommends-safe-bulkers-diana-shipping-navios/2011/05/17/AF7Z925G_video.html#
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