Sabine Royalty Trust (NYSE:SBR) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Sabine Royalty Trust (NYSE:SBR) from a buy rating to a hold rating in a research note released on Tuesday.

Sabine Royalty Trust Price Performance

NYSE SBR opened at $61.92 on Tuesday. The stock’s fifty day moving average price is $61.34 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.

Sabine Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.5144 per share. This is an increase from Sabine Royalty Trust’s previous monthly dividend of $0.44. The ex-dividend date of this dividend is Friday, November 15th. This represents a $6.17 dividend on an annualized basis and a dividend yield of 9.97%. Sabine Royalty Trust’s payout ratio is 80.59%.

Hedge Funds Weigh In On Sabine Royalty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Moors & Cabot Inc. boosted its stake in shares of Sabine Royalty Trust by 0.8% in the second quarter. Moors & Cabot Inc. now owns 23,998 shares of the energy company’s stock worth $1,552,000 after buying an additional 201 shares during the last quarter. State Street Corp grew its holdings in Sabine Royalty Trust by 3.8% in the 3rd quarter. State Street Corp now owns 6,505 shares of the energy company’s stock valued at $402,000 after buying an additional 239 shares in the last quarter. Olistico Wealth LLC acquired a new stake in Sabine Royalty Trust during the second quarter worth about $28,000. American National Bank & Trust raised its position in shares of Sabine Royalty Trust by 1.3% during the 3rd quarter. American National Bank & Trust now owns 36,668 shares of the energy company’s stock valued at $2,265,000 after buying an additional 483 shares during the period. Finally, Raymond James & Associates raised its position in Sabine Royalty Trust by 2.3% in the second quarter. Raymond James & Associates now owns 26,427 shares of the energy company’s stock valued at $1,710,000 after purchasing an additional 588 shares during the period. Institutional investors and hedge funds own 15.81% of the company’s stock.

Sabine Royalty Trust Company Profile

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.