Sabine Royalty Trust (NYSE:SBR) Short Interest Update

Sabine Royalty Trust (NYSE:SBR) was the recipient of a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 13,954 shares, a drop of 54.5% from the April 15th total of 30,650 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 31,670 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of Sabine Royalty Trust

Several hedge funds have recently added to or reduced their stakes in SBR. Jane Street Group LLC bought a new stake in Sabine Royalty Trust in the first quarter worth about $772,000. Cetera Investment Advisers raised its position in Sabine Royalty Trust by 7.7% in the second quarter. Cetera Investment Advisers now owns 5,926 shares of the energy company’s stock worth $395,000 after acquiring an additional 425 shares during the period. Marshall Wace LLP bought a new stake in Sabine Royalty Trust in the second quarter worth about $1,545,000. Peapack Gladstone Financial Corp raised its position in Sabine Royalty Trust by 8.8% in the second quarter. Peapack Gladstone Financial Corp now owns 22,283 shares of the energy company’s stock worth $1,486,000 after acquiring an additional 1,806 shares during the period. Finally, Bank of America Corp DE raised its position in Sabine Royalty Trust by 11.9% in the second quarter. Bank of America Corp DE now owns 28,496 shares of the energy company’s stock worth $1,900,000 after acquiring an additional 3,026 shares during the period. Institutional investors own 15.81% of the company’s stock.

Sabine Royalty Trust Price Performance

Shares of NYSE SBR traded up $0.51 during mid-day trading on Friday, reaching $77.31. 28,494 shares of the company’s stock traded hands, compared to its average volume of 36,722. The stock has a market cap of $1.13 billion, a P/E ratio of 15.34 and a beta of 0.23. The business has a 50-day simple moving average of $75.06 and a 200 day simple moving average of $72.86. Sabine Royalty Trust has a 1-year low of $64.57 and a 1-year high of $84.39.

Sabine Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be given a dividend of $0.4979 per share. The ex-dividend date of this dividend is Friday, May 15th. This is an increase from Sabine Royalty Trust’s previous monthly dividend of $0.32. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. Sabine Royalty Trust’s payout ratio is 77.38%.

Sabine Royalty Trust Company Profile

Sabine Royalty Trust is a Delaware statutory trust that owns a non-operating royalty interest in a portfolio of oil and gas properties. Rather than engaging in exploration or production activities directly, the trust receives a share of net proceeds from hydrocarbon production on the underlying properties and distributes those proceeds to unitholders on a monthly basis.

The trust was established in 1982 through a transaction with Sabine Oil & Gas Corporation, which transferred its overriding royalty interests in numerous wells and acreage to the trust.