Sabine Royalty Trust (NYSE:SBR) Sees Significant Growth in Short Interest

Sabine Royalty Trust (NYSE:SBR) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 14,000 shares, a growth of 27.3% from the October 31st total of 11,000 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 35,100 shares, the days-to-cover ratio is currently 0.4 days.

Sabine Royalty Trust Trading Up 1.2 %

Shares of NYSE:SBR traded up $0.74 on Friday, hitting $65.00. 23,237 shares of the company were exchanged, compared to its average volume of 35,972. The stock’s 50 day moving average price is $61.93 and its 200 day moving average price is $62.98. Sabine Royalty Trust has a 1-year low of $57.73 and a 1-year high of $72.50. The firm has a market capitalization of $947.70 million, a P/E ratio of 10.02 and a beta of 0.47.

Sabine Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.5144 dividend. This represents a $6.17 annualized dividend and a dividend yield of 9.50%. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.44. The ex-dividend date was Friday, November 15th. Sabine Royalty Trust’s dividend payout ratio (DPR) is presently 95.07%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Sabine Royalty Trust from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th.

Institutional Investors Weigh In On Sabine Royalty Trust

A number of large investors have recently bought and sold shares of the company. Horizon Kinetics Asset Management LLC raised its stake in shares of Sabine Royalty Trust by 0.7% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 100,368 shares of the energy company’s stock valued at $6,200,000 after buying an additional 710 shares during the last quarter. Howard Financial Services LTD. grew its holdings in Sabine Royalty Trust by 160.8% during the third quarter. Howard Financial Services LTD. now owns 67,496 shares of the energy company’s stock worth $4,158,000 after acquiring an additional 41,618 shares during the period. Commonwealth Equity Services LLC raised its position in Sabine Royalty Trust by 77.1% during the second quarter. Commonwealth Equity Services LLC now owns 38,820 shares of the energy company’s stock valued at $2,511,000 after acquiring an additional 16,902 shares in the last quarter. American National Bank & Trust lifted its holdings in Sabine Royalty Trust by 1.3% in the third quarter. American National Bank & Trust now owns 36,668 shares of the energy company’s stock valued at $2,265,000 after acquiring an additional 483 shares during the period. Finally, Prospera Financial Services Inc lifted its holdings in Sabine Royalty Trust by 12.1% in the third quarter. Prospera Financial Services Inc now owns 28,519 shares of the energy company’s stock valued at $1,762,000 after acquiring an additional 3,070 shares during the period. Hedge funds and other institutional investors own 15.81% of the company’s stock.

About Sabine Royalty Trust

Sabine Royalty Trust holds royalty and mineral interests in various producing 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.