Sabine Royalty Trust (NYSE:SBR) Hits New 12-Month High at $70.16

Sabine Royalty Trust (NYSE:SBR – Get Rating) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $70.16 and last traded at $70.16, with a volume of 201 shares traded. The stock had previously closed at $67.99.

Separately, StockNews.com lowered Sabine Royalty Trust from a “buy” rating to a “hold” rating in a report on Tuesday.

The stock has a market capitalization of $1.02 billion, a P/E ratio of 24.02 and a beta of 0.42. The company has a fifty day moving average of $62.64 and a two-hundred day moving average of $52.80.

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, May 31st. Investors of record on Monday, May 16th will be issued a $0.604 dividend. This represents a $7.25 annualized dividend and a yield of 10.37%. The ex-dividend date is Friday, May 13th.

A number of institutional investors have recently made changes to their positions in SBR. Archer Investment Corp acquired a new position in Sabine Royalty Trust in the first quarter valued at approximately $37,000. Citizens National Bank Trust Department acquired a new position in shares of Sabine Royalty Trust during the fourth quarter worth approximately $42,000. Dorsey Wright & Associates acquired a new position in shares of Sabine Royalty Trust during the first quarter worth approximately $43,000. Marshall Wace LLP acquired a new position in shares of Sabine Royalty Trust during the fourth quarter worth approximately $188,000. Finally, Ackerman Capital Advisors LLC acquired a new position in shares of Sabine Royalty Trust during the first quarter worth approximately $202,000.

Sabine Royalty Trust Company Profile (NYSE:SBR)

Sabine Royalty Trust holds royalty and mineral interests in various producing oil and gas properties in the United States. The company's 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.

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