Sabine Royalty Trust (NYSE:SBR) Rating Lowered 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 report issued on Tuesday.

Sabine Royalty Trust Price Performance

SBR stock opened at $62.17 on Tuesday. The stock’s fifty day simple moving average is $61.33 and its two-hundred day simple moving average is $62.99. 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 business also recently disclosed 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 represents a $6.17 dividend on an annualized basis and a yield of 9.93%. The ex-dividend date is Friday, November 15th. This is an increase from Sabine Royalty Trust’s previous monthly dividend of $0.44. Sabine Royalty Trust’s dividend payout ratio (DPR) is 80.59%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Howard Financial Services LTD. raised its holdings in shares of Sabine Royalty Trust by 160.8% in the 3rd quarter. Howard Financial Services LTD. now owns 67,496 shares of the energy company’s stock worth $4,158,000 after purchasing an additional 41,618 shares during the period. American National Bank & Trust raised its stake in shares of 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 buying an additional 483 shares during the period. Family Firm Inc. purchased a new position in shares of Sabine Royalty Trust during the 2nd quarter valued at $48,000. Hsbc Holdings PLC bought a new position in shares of Sabine Royalty Trust during the 2nd quarter worth $323,000. Finally, Olistico Wealth LLC purchased a new stake in Sabine Royalty Trust in the 2nd quarter worth about $28,000. 15.81% of the stock is currently owned by hedge funds and other institutional investors.

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.