Shares of Sabine Royalty Trust (NYSE:SBR – Get Rating) hit a new 52-week high on Monday after the company announced a dividend. The stock traded as high as $84.50 and last traded at $84.50, with volume of 240 shares changing hands. The stock previously closed at $81.04. The newly announced dividend which will be paid on Wednesday, June 29. Shareholders of record on Wednesday, June 15 will receive a dividend of $0.72 per share. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.60. The ex-dividend date is Tuesday, June 14. This represents an annualized dividend of $8.64 and a dividend yield of 10.10%.
Separately, StockNews.com downgraded Sabine Royalty Trust from a “buy” rating to a “hold” rating in a report on Tuesday, May 24.
The company’s 50-day moving average price is $65.60 and its 200-day moving average price is $54.66.
A number of hedge funds and other institutional investors have recently bought and sold shares of SBR. LPL Financial LLC increased its holdings of Sabine Royalty Trust shares by 5.2% during the third quarter. LPL Financial LLC now owns 8,601 shares of the energy company worth $368,000 after buying 425 additional shares in the last quarter. Archer Investment Corp bought a new position in shares of Sabine Royalty Trust in Q1 worth around $37,000. Moors & Cabot Inc. increased its stake in shares of Sabine Royalty Trust by 7.1% during the first quarter. Moors & Cabot Inc. now owns 9,080 shares of the energy company worth $524,000 after buying 600 more shares in the last quarter. Dorsey Wright & Associates purchased a new equity stake in Sabine Royalty Trust during the first quarter valued at approximately $43,000. Finally, Citizens National Bank Trust Department acquired a new equity stake in Sabine Royalty Trust during the fourth quarter at a value of $42,000.
Company Profile Sabine Royalty Trust (NYSE: SBR)
Sabine Royalty Trust owns royalties and mineral interests in various oil and gas producing properties in the United States. The Company’s royalties and mining interests include landowner’s royalties, overriding royalty interests, minerals, production payments and other similar non-participating interests in certain undeveloped and proven oil and gas properties located in Florida, in Louisiana, Mississippi, New Mexico, Oklahoma and Texas.
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