Peapack Gladstone Financial Corp Sells 295 Shares of Sabine Royalty Trust (NYSE:SBR)

Peapack Gladstone Financial Corp cut its position in Sabine Royalty Trust (NYSE:SBR) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,420 shares of the energy company’s stock after selling 295 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Sabine Royalty Trust were worth $1,323,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SBR. Raymond James & Associates grew its position in shares of Sabine Royalty Trust by 2.3% in the second quarter. Raymond James & Associates now owns 26,427 shares of the energy company’s stock valued at $1,710,000 after purchasing an additional 588 shares during the last quarter. Family Firm Inc. acquired a new stake in Sabine Royalty Trust in the 2nd quarter valued at approximately $48,000. TrueMark Investments LLC acquired a new stake in Sabine Royalty Trust in the 2nd quarter valued at approximately $1,107,000. Concurrent Investment Advisors LLC bought a new position in Sabine Royalty Trust in the 2nd quarter worth approximately $302,000. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Sabine Royalty Trust by 77.1% during the second quarter. Commonwealth Equity Services LLC now owns 38,820 shares of the energy company’s stock worth $2,511,000 after buying an additional 16,902 shares during the last quarter. Institutional investors own 15.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Sabine Royalty Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, November 20th.

Sabine Royalty Trust Stock Performance

Shares of SBR opened at $63.48 on Monday. The stock’s 50-day moving average price is $62.62 and its 200 day moving average price is $63.08. Sabine Royalty Trust has a 12-month low of $57.73 and a 12-month high of $70.24.

Sabine Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a dividend of $0.3112 per share. This represents a $3.73 dividend on an annualized basis and a dividend yield of 5.88%. The ex-dividend date of this dividend is Monday, December 16th. Sabine Royalty Trust’s dividend payout ratio is presently 95.07%.

Sabine Royalty Trust Profile

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.