Sabine Royalty Trust (NYSE:SBR) was the target of a large increase in short interest in the month of March. As of March 13th, there was short interest totalling 28,800 shares, an increase of 166.7% from the February 27th total of 10,800 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 36,300 shares, the days-to-cover ratio is presently 0.8 days.
NYSE SBR traded up $1.00 during mid-day trading on Thursday, hitting $28.25. The company’s stock had a trading volume of 31,326 shares, compared to its average volume of 43,341. The company’s 50 day simple moving average is $33.34 and its 200 day simple moving average is $38.71. Sabine Royalty Trust has a twelve month low of $23.02 and a twelve month high of $52.59. The firm has a market capitalization of $390.60 million, a price-to-earnings ratio of 9.35 and a beta of 0.59.
The business also recently disclosed a monthly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be paid a dividend of $0.2366 per share. The ex-dividend date is Friday, March 13th. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.14. This represents a $2.84 annualized dividend and a yield of 10.05%.
A number of large investors have recently modified their holdings of SBR. Tower Research Capital LLC TRC lifted its stake in Sabine Royalty Trust by 400.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,202 shares of the energy company’s stock valued at $48,000 after acquiring an additional 962 shares in the last quarter. Islay Capital Management LLC bought a new position in Sabine Royalty Trust during the 4th quarter valued at $81,000. Alpha Cubed Investments LLC bought a new position in Sabine Royalty Trust during the 4th quarter valued at $242,000. Oxbow Advisors LLC lifted its stake in Sabine Royalty Trust by 67.9% during the 4th quarter. Oxbow Advisors LLC now owns 9,025 shares of the energy company’s stock valued at $364,000 after acquiring an additional 3,650 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new position in Sabine Royalty Trust during the 3rd quarter valued at $376,000. Institutional investors and hedge funds own 10.19% of the company’s stock.
About Sabine Royalty Trust
Sabine Royalty Trust holds royalty and mineral interests in various oil and gas properties in the United States. Its royalty and mineral interests include landowner's royalties, overriding royalty interests, minerals, production payments, and other similar non-participatory interest in certain producing and proved undeveloped oil and gas properties located in Florida, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas.
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