Sabine Royalty Trust (NYSE:SBR) Stake Lowered by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp cut its stake in shares of Sabine Royalty Trust (NYSE:SBRFree Report) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,482 shares of the energy company’s stock after selling 697 shares during the quarter. Peapack Gladstone Financial Corp owned approximately 0.15% of Sabine Royalty Trust worth $1,526,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SBR. Islay Capital Management LLC boosted its position in shares of Sabine Royalty Trust by 16.7% during the fourth quarter. Islay Capital Management LLC now owns 3,500 shares of the energy company’s stock worth $237,000 after buying an additional 500 shares during the period. Atria Wealth Solutions Inc. boosted its position in shares of Sabine Royalty Trust by 23.5% during the third quarter. Atria Wealth Solutions Inc. now owns 5,167 shares of the energy company’s stock worth $340,000 after buying an additional 983 shares during the period. Essex Financial Services Inc. boosted its position in shares of Sabine Royalty Trust by 12.6% during the fourth quarter. Essex Financial Services Inc. now owns 12,736 shares of the energy company’s stock worth $864,000 after buying an additional 1,422 shares during the period. HighTower Advisors LLC boosted its position in shares of Sabine Royalty Trust by 40.9% during the third quarter. HighTower Advisors LLC now owns 9,947 shares of the energy company’s stock worth $654,000 after buying an additional 2,887 shares during the period. Finally, Pathstone Family Office LLC acquired a new position in shares of Sabine Royalty Trust during the third quarter worth approximately $238,000. 15.81% of the stock is owned by institutional investors.

Sabine Royalty Trust Trading Up 1.1 %

Shares of NYSE SBR opened at $64.88 on Thursday. The stock has a 50 day simple moving average of $64.18 and a 200-day simple moving average of $63.90. The company has a market cap of $945.95 million, a PE ratio of 11.26 and a beta of 0.50. Sabine Royalty Trust has a 12-month low of $55.60 and a 12-month high of $72.50.

Sabine Royalty Trust (NYSE:SBRGet Free Report) last released its earnings results on Thursday, May 9th. The energy company reported $1.37 earnings per share for the quarter. The firm had revenue of $20.76 million during the quarter. Sabine Royalty Trust had a return on equity of 1,059.92% and a net margin of 96.22%.

Sabine Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Wednesday, May 15th were given a dividend of $0.598 per share. This represents a $7.18 dividend on an annualized basis and a dividend yield of 11.06%. The ex-dividend date of this dividend was Tuesday, May 14th. This is an increase from Sabine Royalty Trust’s previous monthly dividend of $0.54. Sabine Royalty Trust’s dividend payout ratio is 124.48%.

Sabine Royalty Trust Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Sabine Royalty Trust (NYSE:SBR)

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