Short Interest in Freehold Royalties Ltd. (OTCMKTS:FRHLF) Declines By 5.3%

Freehold Royalties Ltd. (OTCMKTS:FRHLF) saw a significant drop in short interest in November. As of November 15th, there was short interest totalling 3,684,800 shares, a drop of 5.3% from the October 31st total of 3,891,500 shares. Based on an average trading volume of 118,100 shares, the days-to-cover ratio is currently 31.2 days.

Freehold Royalties Price Performance

OTCMKTS FRHLF opened at $9.80 on Thursday. The stock’s fifty day moving average is $10.09 and its two-hundred day moving average is $10.07. Freehold Royalties has a fifty-two week low of $9.30 and a fifty-two week high of $11.00.

Freehold Royalties Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.0649 dividend. The ex-dividend date is Friday, November 29th. This represents a dividend yield of 7.61%. Freehold Royalties’s dividend payout ratio is presently 181.76%.

Analysts Set New Price Targets

Separately, Raymond James began coverage on Freehold Royalties in a report on Friday, October 18th. They issued a “market perform” rating and a $16.00 price objective on the stock.

About Freehold Royalties

Freehold Royalties Ltd. engages in the acquiring and managing royalty interests in the crude oil, natural gas, natural gas liquids, and potash properties in Western Canada and the United States. Freehold Royalties Ltd. was founded in 1996 and is headquartered in Calgary, Canada.