Cross Timbers Royalty Trust (NYSE:CRT) Sees Large Decline in Short Interest

Cross Timbers Royalty Trust (NYSE:CRT) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 8,200 shares, a drop of 59.6% from the February 28th total of 20,300 shares. Based on an average daily volume of 29,500 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the company’s stock are short sold.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

A number of institutional investors and hedge funds have recently made changes to their positions in CRT. Citadel Advisors LLC bought a new position in shares of Cross Timbers Royalty Trust in the fourth quarter valued at $132,000. Miracle Mile Advisors LLC bought a new stake in Cross Timbers Royalty Trust during the fourth quarter worth $148,000. Finally, Beacon Pointe Advisors LLC acquired a new stake in Cross Timbers Royalty Trust in the fourth quarter valued at $618,000. Institutional investors own 9.74% of the company’s stock.

Cross Timbers Royalty Trust Price Performance

CRT stock traded up $0.57 during midday trading on Friday, hitting $12.33. The company’s stock had a trading volume of 46,264 shares, compared to its average volume of 31,990. The company’s fifty day moving average price is $10.88 and its 200 day moving average price is $10.46. Cross Timbers Royalty Trust has a twelve month low of $8.88 and a twelve month high of $14.98. The stock has a market capitalization of $73.95 million, a P/E ratio of 11.00 and a beta of 0.52.

Cross Timbers Royalty Trust (NYSE:CRT) last announced its quarterly earnings data on Thursday, March 27th. The oil and gas company reported $0.22 earnings per share for the quarter. Cross Timbers Royalty Trust had a return on equity of 262.62% and a net margin of 88.08%. The company had revenue of $1.48 million during the quarter.

Cross Timbers Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a dividend of $0.1567 per share. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.05. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 15.26%. Cross Timbers Royalty Trust’s payout ratio is 167.86%.

Cross Timbers Royalty Trust Company Profile

Cross Timbers Royalty Trust operates as an express trust in the United States. It holds 90% net profits interests in certain producing and nonproducing royalty and overriding royalty interest properties in Texas, Oklahoma, and New Mexico; and 75% net profits working interest in four properties in Texas and three properties in Oklahoma.