Sabine Royalty Trust (NYSE:SBR) Shares Down 2.7% – Here’s What Happened

Shares of Sabine Royalty Trust (NYSE:SBR) traded down 2.7% during trading on Tuesday . The company traded as low as $63.81 and last traded at $64.01. 38,672 shares were traded during mid-day trading, an increase of 3% from the average session volume of 37,524 shares. The stock had previously closed at $65.82.

Analyst Ratings Changes

Separately, StockNews.com upgraded Sabine Royalty Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, November 20th.

Sabine Royalty Trust Trading Down 2.8 %

The stock has a market capitalization of $932.97 million, a price-to-earnings ratio of 9.86 and a beta of 0.48. The firm has a 50-day moving average of $62.66 and a 200 day moving average of $63.00.

Sabine Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be paid a $0.3112 dividend. This represents a $3.73 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date of this dividend is Monday, December 16th. Sabine Royalty Trust’s dividend payout ratio is presently 57.47%.

Institutional Investors Weigh In On Sabine Royalty Trust

Large investors have recently modified their holdings of the stock. Captrust Financial Advisors purchased a new stake in Sabine Royalty Trust in the 3rd quarter worth about $230,000. Concurrent Investment Advisors LLC purchased a new position in Sabine Royalty Trust in the second quarter valued at about $302,000. Hsbc Holdings PLC acquired a new position in Sabine Royalty Trust in the second quarter worth approximately $323,000. Sunbelt Securities Inc. raised its position in Sabine Royalty Trust by 733.3% during the third quarter. Sunbelt Securities Inc. now owns 5,000 shares of the energy company’s stock valued at $309,000 after acquiring an additional 4,400 shares in the last quarter. Finally, Philip James Wealth Mangement LLC acquired a new stake in Sabine Royalty Trust in the third quarter valued at approximately $327,000. 15.81% of the stock is owned by institutional investors.

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.