Sabine Royalty Trust (NYSE:SBR) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Sabine Royalty Trust (NYSE:SBR) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

Sabine Royalty Trust Stock Up 0.4 %

NYSE:SBR opened at $61.92 on Tuesday. Sabine Royalty Trust has a 1 year low of $57.73 and a 1 year high of $72.50. The stock has a 50-day simple moving average of $61.34 and a 200-day simple moving average of $62.98.

Sabine Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.5144 per share. This represents a $6.17 annualized dividend and a dividend yield of 9.97%. 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 payout ratio is currently 80.59%.

Institutional Investors Weigh In On Sabine Royalty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Howard Financial Services LTD. grew its holdings in shares of Sabine Royalty Trust by 160.8% during the third 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 last quarter. Concurrent Investment Advisors LLC increased its position in Sabine Royalty Trust by 491.9% during the third quarter. Concurrent Investment Advisors LLC now owns 27,614 shares of the energy company’s stock worth $1,702,000 after buying an additional 22,949 shares during the period. BWM Planning LLC purchased a new stake in Sabine Royalty Trust in the third quarter valued at approximately $1,331,000. TrueMark Investments LLC acquired a new stake in shares of Sabine Royalty Trust in the second quarter valued at approximately $1,107,000. Finally, Commonwealth Equity Services LLC grew its position in shares of Sabine Royalty Trust by 77.1% during the second quarter. Commonwealth Equity Services LLC now owns 38,820 shares of the energy company’s stock worth $2,511,000 after acquiring an additional 16,902 shares during the last quarter. 15.81% of the stock is currently owned by institutional investors and hedge funds.

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.