Short Interest in Sabine Royalty Trust (NYSE:SBR) Decreases By 54.5%

Sabine Royalty Trust (NYSE:SBR) was the target of a large decline in short interest in April. As of April 30th, there was short interest totaling 13,954 shares, a decline of 54.5% from the April 15th total of 30,650 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 31,670 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On Sabine Royalty Trust

Several hedge funds and other institutional investors have recently modified their holdings of SBR. Jane Street Group LLC acquired a new position in shares of Sabine Royalty Trust in the 1st quarter valued at about $772,000. Cetera Investment Advisers lifted its stake in shares of Sabine Royalty Trust by 7.7% in the 2nd quarter. Cetera Investment Advisers now owns 5,926 shares of the energy company’s stock valued at $395,000 after purchasing an additional 425 shares in the last quarter. Marshall Wace LLP acquired a new position in Sabine Royalty Trust during the 2nd quarter worth approximately $1,545,000. Peapack Gladstone Financial Corp lifted its position in Sabine Royalty Trust by 8.8% during the 2nd 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 in the last quarter. Finally, Bank of America Corp DE lifted its position in Sabine Royalty Trust by 11.9% during the 2nd 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 in the last quarter. 15.81% of the stock is owned by institutional investors and hedge funds.

Sabine Royalty Trust Stock Up 0.7%

Shares of NYSE SBR traded up $0.51 during midday trading on Friday, hitting $77.31. The stock had a trading volume of 28,494 shares, compared to its average volume of 35,476. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 15.34 and a beta of 0.23. Sabine Royalty Trust has a 1-year low of $64.57 and a 1-year high of $84.39. The company has a fifty day moving average price of $75.06 and a 200 day moving average price of $72.88.

Sabine Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid a $0.4979 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 7.7%. This is an increase from Sabine Royalty Trust’s previous monthly dividend of $0.32. Sabine Royalty Trust’s dividend payout ratio is presently 118.45%.

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.