Sabine Royalty Trust (NYSE:SBR) Short interest down 45.2% in March
Sabine Royalty Trust (NYSE:SBR – Get Rating) benefited from a sharp drop in short-term interest rates during March. As of March 31, there was short interest totaling 31,300 shares, down 45.2% from the March 15 total of 57,100 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume of 87,700 shares, the short-term interest rate ratio is currently 0.4 days.
Institutional investors have recently changed their positions in the stock. Moors & Cabot Inc. increased its position in shares of Sabine Royalty Trust by 256.6% during the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the energy company valued at $25,000 after buying an additional 17,990 shares last quarter. Citizens National Bank Trust Department purchased a new equity stake in Sabine Royalty Trust during Q4 valued at approximately $42,000. Marshall Wace LLP bought a new position in Sabine Royalty Trust in the fourth quarter worth approximately $188,000. 1900 Wealth Management LLC bought a new position in Sabine Royalty Trust in the fourth quarter worth approximately $209,000. Finally, Quest Capital Management Inc. ADV bought a new position in Sabine Royalty Trust in the third quarter worth approximately $212,000.
Shares of NYSE SBR traded at $1.38 during Friday trading, hitting $64.79. The company had a trading volume of 52,045 shares, compared to an average volume of 65,974. The company’s fifty-day moving average price is $56.47 and its 200-day moving average price is 48.57 $. Sabine Royalty Trust has a 12-month low of $31.96 and a 12-month high of $64.79.
The company also recently announced a monthly dividend, which will be paid on Friday, April 29. Investors of record on Monday, April 18 will receive a dividend of $0.73 per share. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.47. The ex-date of this dividend is Thursday, April 14. This represents an annualized dividend of $8.76 and a dividend yield of 13.52%. Sabine Royalty Trust’s dividend payout ratio is currently 312.86%.
Separately, StockNews.com upgraded Sabine Royalty Trust from a “hold” to a “buy” rating in a Monday, March 28 research report.
About Sabine Royalty Trust (Get a rating)
Sabine Royalty Trust owns royalties and mineral interests in various oil and gas producing properties in the United States. Its mining royalties and interests include landowner’s royalties, overriding royalty interests, minerals, production payments and other similar non-participating interests in certain undeveloped and proven oil and gas properties located in Florida, Louisiana, in Mississippi, New Mexico, Oklahoma and Texas. .
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