Sabine Royalty Trust (NYSE:SBR) Upgraded at StockNews.com

StockNews.com upgraded shares of Sabine Royalty Trust (NYSE:SBR) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

Sabine Royalty Trust Stock Up 0.6 %

Shares of Sabine Royalty Trust stock opened at $63.07 on Wednesday. The business has a fifty day simple moving average of $61.52 and a 200 day simple moving average of $62.98. The stock has a market cap of $919.56 million, a PE ratio of 9.66 and a beta of 0.47. Sabine Royalty Trust has a 12 month low of $57.73 and a 12 month high of $72.50.

Sabine Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.5144 dividend. The ex-dividend date is Friday, November 15th. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.44. This represents a $6.17 dividend on an annualized basis and a dividend yield of 9.79%. Sabine Royalty Trust’s dividend payout ratio is 95.07%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SBR. Olistico Wealth LLC bought a new position in shares of Sabine Royalty Trust during the second quarter worth $28,000. Family Firm Inc. acquired a new stake in Sabine Royalty Trust during the 2nd quarter worth $48,000. Captrust Financial Advisors bought a new position in Sabine Royalty Trust during the third quarter worth about $230,000. Concurrent Investment Advisors LLC acquired a new position in Sabine Royalty Trust in the second quarter valued at about $302,000. Finally, Sunbelt Securities Inc. increased its holdings in shares of Sabine Royalty Trust by 733.3% in the third quarter. Sunbelt Securities Inc. now owns 5,000 shares of the energy company’s stock worth $309,000 after acquiring an additional 4,400 shares in the last quarter. Institutional investors and hedge funds own 15.81% of the company’s stock.

Sabine Royalty Trust Company Profile

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.