Freehold Royalties Ltd. (OTCMKTS:FRHLF) Sees Significant Growth in Short Interest

Freehold Royalties Ltd. (OTCMKTS:FRHLF) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 3,891,500 shares, an increase of 7.4% from the October 15th total of 3,624,300 shares. Based on an average daily trading volume, of 61,100 shares, the days-to-cover ratio is currently 63.7 days.

Freehold Royalties Stock Up 0.1 %

Freehold Royalties stock traded up $0.01 during mid-day trading on Monday, hitting $9.88. 86,200 shares of the stock were exchanged, compared to its average volume of 31,548. Freehold Royalties has a 12 month low of $9.30 and a 12 month high of $11.00. The firm’s fifty day simple moving average is $10.13 and its two-hundred day simple moving average is $10.08.

Freehold Royalties Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a $0.0653 dividend. This represents a dividend yield of 7.76%. The ex-dividend date was Thursday, October 31st. Freehold Royalties’s dividend payout ratio (DPR) is presently 181.76%.

Wall Street Analysts Forecast Growth

Separately, Raymond James started coverage on Freehold Royalties in a research note on Friday, October 18th. They issued a “market perform” rating and a $16.00 price objective for the company.

About Freehold Royalties

Freehold Royalties Ltd. engages in the acquiring and managing royalty interests in the crude oil, natural gas, natural gas liquids, and potash properties in Western Canada and the United States. Freehold Royalties Ltd. was founded in 1996 and is headquartered in Calgary, Canada.