Peapack Gladstone Financial Corp Has $1.36 Million Position in Sabine Royalty Trust (NYSE:SBR)

Peapack Gladstone Financial Corp trimmed its position in Sabine Royalty Trust (NYSE:SBR) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,021 shares of the energy company’s stock after selling 399 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Sabine Royalty Trust were worth $1,362,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SBR. Captrust Financial Advisors bought a new stake in shares of Sabine Royalty Trust in the third quarter valued at about $230,000. State Street Corp raised its stake in Sabine Royalty Trust by 3.8% in the 3rd quarter. State Street Corp now owns 6,505 shares of the energy company’s stock worth $402,000 after purchasing an additional 239 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in Sabine Royalty Trust by 733.3% in the 3rd quarter. Sunbelt Securities Inc. now owns 5,000 shares of the energy company’s stock valued at $309,000 after purchasing an additional 4,400 shares during the period. JPMorgan Chase & Co. grew its position in shares of Sabine Royalty Trust by 79.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,028 shares of the energy company’s stock worth $64,000 after purchasing an additional 456 shares in the last quarter. Finally, Sendero Wealth Management LLC bought a new position in shares of Sabine Royalty Trust during the fourth quarter worth approximately $838,000. Institutional investors own 15.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Sabine Royalty Trust from a “hold” rating to a “buy” rating in a research note on Monday, February 10th.

Sabine Royalty Trust Stock Performance

NYSE:SBR opened at $60.47 on Wednesday. The company has a market cap of $881.52 million, a price-to-earnings ratio of 9.32 and a beta of 0.25. Sabine Royalty Trust has a fifty-two week low of $58.25 and a fifty-two week high of $70.20. The stock has a fifty day moving average price of $66.46 and a 200-day moving average price of $64.45.

Sabine Royalty Trust (NYSE:SBR) last posted its quarterly earnings data on Thursday, February 27th. The energy company reported $1.27 earnings per share for the quarter. The business had revenue of $19.55 million during the quarter. Sabine Royalty Trust had a net margin of 96.72% and a return on equity of 1,088.44%.

Sabine Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 15th will be given a dividend of $0.5039 per share. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.30. The ex-dividend date is Tuesday, April 15th. This represents a $6.05 annualized dividend and a dividend yield of 10.00%. Sabine Royalty Trust’s dividend payout ratio (DPR) is currently 110.62%.

Sabine Royalty Trust Company 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.