Sabine Royalty Trust (NYSE:SBR – Get Free Report) declared a monthly dividend on Monday, October 5th. Stockholders of record on Thursday, October 15th will be given a dividend of $0.3554 per share by the energy company on Thursday, October 29th. This represents a $4.27 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Thursday, October 15th. This is a 7.2% increase from Sabine Royalty Trust’s previous monthly dividend of $0.3317.
Sabine Royalty Trust has raised its dividend by an average of 0.2%per year over the last three years.
Sabine Royalty Trust Stock Up 1.3%
Shares of NYSE:SBR traded up $0.90 during mid-day trading on Monday, reaching $71.31. 17,193 shares of the stock were exchanged, compared to its average volume of 28,382. The stock’s 50 day simple moving average is $73.01 and its 200-day simple moving average is $74.19. Sabine Royalty Trust has a one year low of $65.31 and a one year high of $79.86. The company has a market cap of $1.04 billion, a P/E ratio of 14.55 and a beta of 0.29.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. SHP Wealth Management acquired a new stake in shares of Sabine Royalty Trust in the 4th quarter valued at approximately $56,000. Fifth Third Bancorp increased its holdings in Sabine Royalty Trust by 55.2% during the first quarter. Fifth Third Bancorp now owns 1,282 shares of the energy company’s stock worth $97,000 after buying an additional 456 shares during the last quarter. Artesa Financial Group LLC acquired a new stake in Sabine Royalty Trust in the first quarter valued at $214,000. Azzad Asset Management Inc. ADV acquired a new stake in Sabine Royalty Trust in the first quarter valued at $223,000. Finally, DGS Capital Management LLC bought a new position in shares of Sabine Royalty Trust in the 4th quarter valued at about $336,000. Institutional investors and hedge funds own 15.81% of the company’s stock.
About Sabine Royalty Trust
Sabine Royalty Trust (NYSE:SBR) is a grantor trust that holds royalty and mineral interests in oil and natural gas properties in the United States. The trust does not operate wells or provide energy services; instead, it receives royalty payments and other proceeds generated by the production and sale of oil, natural gas and related hydrocarbons from the properties in which it holds interests.
The trust was established in 1982 after Sabine Corporation transferred certain royalty and mineral interests to the trust.
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