Sabine Royalty Trust (NYSE:SBR) Sees Large Decrease in Short Interest

Key Points

• Short interest fell 22.6% in March to 13,046 shares (about 0.1% of shares outstanding), leaving a very low days-to-cover ratio of 0.2 and suggesting limited short-selling pressure.
• The trust raised its monthly dividend to $0.325 per share (up from $0.29), implying a ~5.3% yield and a payout ratio near 68%; the ex-dividend date was April 15 and payment is scheduled for April 29.
• Shares trade near $73.45 with a market cap of $1.07 billion, a PE of 14.57 and a 52-week range of $62.23–$84.39, and the stock carries an average analyst rating of Hold.

Sabine Royalty Trust (NYSE:SBR - Get Free Report) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 13,046 shares, a drop of 22.6% from the March 15th total of 16,849 shares. Currently, 0.1% of the company's shares are short sold. Based on an average daily volume of 54,125 shares, the days-to-cover ratio is currently 0.2 days.

Sabine Royalty Trust Price Performance

NYSE SBR opened at $73.45 on Wednesday. The stock has a market capitalization of $1.07 billion, a PE ratio of 14.57 and a beta of 0.30. Sabine Royalty Trust has a 1 year low of $62.23 and a 1 year high of $84.39. The business's 50-day moving average is $73.08 and its 200 day moving average is $72.28.

Sabine Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th will be given a dividend of $0.325 per share. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Wednesday, April 15th. This is a positive change from Sabine Royalty Trust's previous monthly dividend of $0.29. Sabine Royalty Trust's payout ratio is presently 68.06%.

Institutional Trading of Sabine Royalty Trust

Several large investors have recently bought and sold shares of SBR. Olistico Wealth LLC bought a new stake in Sabine Royalty Trust during the 4th quarter valued at approximately $29,000. WealthCollab LLC boosted its position in Sabine Royalty Trust by 124.1% during the 4th quarter. WealthCollab LLC now owns 437 shares of the energy company's stock valued at $30,000 after acquiring an additional 242 shares in the last quarter. Allworth Financial LP boosted its position in Sabine Royalty Trust by 51.8% during the 3rd quarter. Allworth Financial LP now owns 586 shares of the energy company's stock valued at $47,000 after acquiring an additional 200 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Sabine Royalty Trust by 79.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 708 shares of the energy company's stock valued at $47,000 after acquiring an additional 313 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in Sabine Royalty Trust by 85.6% during the 3rd quarter. Fifth Third Bancorp now owns 659 shares of the energy company's stock valued at $52,000 after acquiring an additional 304 shares in the last quarter. 15.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Sabine Royalty Trust in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold".

About Sabine Royalty Trust

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.

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