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Safe Bulkers, Inc. Message Board

  • hubcap1234_00 hubcap1234_00 Mar 21, 2013 6:19 PM Flag

    No action up

    Dsx exm and gnk printing money. What the heck is goong on with safe bulkers. It has good bal sheet actually has profits and pays a divi. Is it the ship profolio? They are all relatively new are they the wrong sizes? I do not understand why sb is not ramping to the upside. Opinions please thanks in advance.

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    • president_bush_forever president_bush_forever Mar 22, 2013 12:27 AM Flag

      That's because the market is expecting a financing at the usual ridiculous 10% plus discount these clowns always seem to do at about this time every year. They filed a shelf registration 3 weeks ago so it's a question of when hence the weakness. Also check the past 3 years, a secondary every year around March/April.

      Personally I think these guys are very overrated. They were lucky only because they locked in a few vessels at the highs of 2008 and because of that the share price didn't collapsed giving them carte blanche to dilute the f*** out of shareholders including me by doing a secondary every year since going public. This company has gone from 54 million shares OS to the current 76 million OS and this is set to go even higher and the market knows it. Can't wait to get out of this dog.

      Sentiment: Hold

3.50-0.05(-1.41%)Apr 17 4:02 PMEDT