PermRock Royalty Trust (NYSE:PRT) Plans $0.03 Monthly Dividend

PermRock Royalty Trust (NYSE:PRT) declared a monthly dividend on Friday, April 19th, investing.com reports. Investors of record on Tuesday, April 30th will be given a dividend of 0.0307 per share on Tuesday, May 14th. This represents a $0.37 annualized dividend and a dividend yield of 8.96%. The ex-dividend date of this dividend is Monday, April 29th.

PermRock Royalty Trust Price Performance

PermRock Royalty Trust stock opened at $4.11 on Friday. The firm has a market capitalization of $50.02 million, a P/E ratio of 8.06 and a beta of 0.93. The stock has a fifty day moving average price of $4.32 and a two-hundred day moving average price of $4.75. PermRock Royalty Trust has a 52-week low of $3.99 and a 52-week high of $6.99.

Institutional Investors Weigh In On PermRock Royalty Trust

Hedge funds have recently made changes to their positions in the company. UBS Group AG acquired a new position in PermRock Royalty Trust in the first quarter valued at about $27,000. Jane Street Group LLC bought a new position in shares of PermRock Royalty Trust in the third quarter valued at approximately $93,000. Morgan Stanley raised its stake in shares of PermRock Royalty Trust by 25.3% in the fourth quarter. Morgan Stanley now owns 16,043 shares of the company’s stock valued at $124,000 after acquiring an additional 3,239 shares during the last quarter. Susquehanna International Group LLP acquired a new position in shares of PermRock Royalty Trust in the 1st quarter worth approximately $131,000. Finally, Royal Bank of Canada grew its position in PermRock Royalty Trust by 50.5% during the 2nd quarter. Royal Bank of Canada now owns 29,200 shares of the company’s stock worth $159,000 after acquiring an additional 9,800 shares during the last quarter. Institutional investors and hedge funds own 41.67% of the company’s stock.

About PermRock Royalty Trust

PermRock Royalty Trust operates as a statutory trust. It owns perpetual interests in the oil and natural gas producing properties. The company's underlying properties include 22,731 net acres in the Permian Basin. The company was founded in 2017 and is based in Dallas, Texas.