Short Interest in Freehold Royalties Ltd. (OTCMKTS:FRHLF) Declines By 12.4%

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

Freehold Royalties Stock Performance

Shares of FRHLF stock traded down $0.01 during mid-day trading on Friday, reaching $9.16. The company’s stock had a trading volume of 107,605 shares, compared to its average volume of 35,083. The company’s 50 day simple moving average is $9.96 and its 200-day simple moving average is $10.04. Freehold Royalties has a 12-month low of $9.10 and a 12-month high of $11.00.

Freehold Royalties Cuts Dividend

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

Wall Street Analyst Weigh In

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

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.