Freehold Royalties Ltd. (OTCMKTS:FRHLF) Sees Large Decrease in Short Interest

Freehold Royalties Ltd. (OTCMKTS:FRHLF) was the target of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 3,226,900 shares, a decrease of 12.4% from the November 15th total of 3,684,800 shares. Based on an average trading volume of 64,900 shares, the days-to-cover ratio is presently 49.7 days.

Wall Street Analyst Weigh In

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

Freehold Royalties Price Performance

FRHLF opened at $9.09 on Tuesday. The firm has a 50 day simple moving average of $9.96 and a 200 day simple moving average of $10.04. Freehold Royalties has a fifty-two week low of $9.07 and a fifty-two week high of $11.00.

Freehold Royalties Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.0649 per share. This represents a dividend yield of 7.61%. The ex-dividend date was Friday, November 29th. Freehold Royalties’s payout ratio is 181.76%.

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.