Freehold Royalties Ltd. (OTCMKTS:FRHLF) Short Interest Update

Freehold Royalties Ltd. (OTCMKTS:FRHLF) saw a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 3,624,300 shares, a decrease of 10.3% from the September 30th total of 4,040,200 shares. Based on an average daily trading volume, of 85,000 shares, the days-to-cover ratio is currently 42.6 days.

Freehold Royalties Stock Performance

Shares of FRHLF stock traded up $0.05 during trading hours on Thursday, reaching $9.97. 14,620 shares of the company’s stock were exchanged, compared to its average volume of 28,414. The company’s 50 day moving average is $10.18 and its two-hundred day moving average is $10.12. Freehold Royalties has a 1 year low of $9.30 and a 1 year high of $11.08.

Freehold Royalties Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $0.0653 per share. The ex-dividend date is Thursday, October 31st. This represents a dividend yield of 7.76%. Freehold Royalties’s payout ratio is currently 181.76%.

Analyst Ratings Changes

Separately, Raymond James initiated coverage on shares of Freehold Royalties in a research note on Friday, October 18th. They set a “market perform” rating and a $16.00 price target on the stock.

About Freehold Royalties

Freehold Royalties Ltd. engages in the acquiring and managing royalty interests in the crude oil, natural gas, natural gas liquids, and potash properties in Western Canada and the United States. Freehold Royalties Ltd. was founded in 1996 and is headquartered in Calgary, Canada.