Horizon Kinetics Asset Management LLC Grows Position in Sabine Royalty Trust (NYSE:SBR)

Horizon Kinetics Asset Management LLC lifted its holdings in Sabine Royalty Trust (NYSE:SBR) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,368 shares of the energy company’s stock after buying an additional 710 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Sabine Royalty Trust were worth $6,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Moors & Cabot Inc. lifted its stake in Sabine Royalty Trust by 6.9% in the 3rd quarter. Moors & Cabot Inc. now owns 25,659 shares of the energy company’s stock worth $1,585,000 after purchasing an additional 1,661 shares in the last quarter. Prospera Financial Services Inc increased its holdings in shares of Sabine Royalty Trust by 12.1% in the third quarter. Prospera Financial Services Inc now owns 28,519 shares of the energy company’s stock valued at $1,762,000 after purchasing an additional 3,070 shares during the last quarter. Philip James Wealth Mangement LLC purchased a new position in Sabine Royalty Trust during the third quarter worth approximately $327,000. Concurrent Investment Advisors LLC boosted its stake in Sabine Royalty Trust by 491.9% during the third quarter. Concurrent Investment Advisors LLC now owns 27,614 shares of the energy company’s stock worth $1,702,000 after buying an additional 22,949 shares during the last quarter. Finally, BWM Planning LLC acquired a new position in Sabine Royalty Trust during the third quarter worth $1,331,000. 15.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com raised Sabine Royalty Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, November 20th.

Sabine Royalty Trust Stock Performance

Sabine Royalty Trust stock opened at $63.07 on Monday. The company has a 50-day moving average price of $61.58 and a 200 day moving average price of $62.98. Sabine Royalty Trust has a 12-month low of $57.73 and a 12-month high of $72.50.

Sabine Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.5144 per share. This represents a $6.17 annualized dividend and a dividend yield of 9.79%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.44. Sabine Royalty Trust’s payout ratio is presently 95.07%.

About Sabine Royalty Trust

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.