Sabine Royalty Trust (NYSE:SBR) Plans Dividend Increase – $0.29 Per Share

Sabine Royalty Trust (NYSE:SBR) declared a monthly dividend on Friday, March 6th. Shareholders of record on Monday, March 16th will be paid a dividend of 0.2862 per share by the energy company on Monday, March 30th. This represents a c) annualized dividend and a yield of 4.7%. The ex-dividend date is Monday, March 16th. This is a 1.0% increase from Sabine Royalty Trust’s previous monthly dividend of $0.28.

Sabine Royalty Trust has increased its dividend by an average of 0.1%annually over the last three years.

Sabine Royalty Trust Stock Performance

Shares of SBR opened at $73.60 on Friday. Sabine Royalty Trust has a fifty-two week low of $58.25 and a fifty-two week high of $84.39. The firm’s 50-day simple moving average is $69.93 and its two-hundred day simple moving average is $72.48. The stock has a market cap of $1.07 billion, a PE ratio of 13.55 and a beta of 0.28.

Institutional Investors Weigh In On Sabine Royalty Trust

Several institutional investors and hedge funds have recently made changes to their positions in SBR. Olistico Wealth LLC purchased a new stake in Sabine Royalty Trust during the 4th quarter valued at $29,000. WealthCollab LLC boosted its position in shares of Sabine Royalty Trust by 124.1% during the fourth quarter. WealthCollab LLC now owns 437 shares of the energy company’s stock valued at $30,000 after buying an additional 242 shares during the last quarter. Allworth Financial LP increased its holdings in Sabine Royalty Trust by 51.8% in the 3rd quarter. Allworth Financial LP now owns 586 shares of the energy company’s stock worth $47,000 after buying an additional 200 shares in the last quarter. BNP Paribas Financial Markets raised its position in Sabine Royalty Trust by 79.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 708 shares of the energy company’s stock worth $47,000 after buying an additional 313 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Sabine Royalty Trust by 85.6% in the 3rd quarter. Fifth Third Bancorp now owns 659 shares of the energy company’s stock worth $52,000 after buying an additional 304 shares during the last quarter. Institutional investors own 15.81% of the company’s stock.

About Sabine Royalty Trust

Sabine Royalty Trust is a Delaware statutory trust that owns a non-operating royalty interest in a portfolio of oil and gas properties. Rather than engaging in exploration or production activities directly, the trust receives a share of net proceeds from hydrocarbon production on the underlying properties and distributes those proceeds to unitholders on a monthly basis.

The trust was established in 1982 through a transaction with Sabine Oil & Gas Corporation, which transferred its overriding royalty interests in numerous wells and acreage to the trust.