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

Freehold Royalties Ltd. (OTCMKTS:FRHLF) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 3,624,300 shares, a drop of 10.3% from the September 30th total of 4,040,200 shares. Based on an average trading volume of 85,000 shares, the short-interest ratio is currently 42.6 days.

Freehold Royalties Stock Performance

Freehold Royalties stock opened at $9.85 on Friday. The firm has a 50-day moving average of $10.18 and a 200-day moving average of $10.12. Freehold Royalties has a one year low of $9.30 and a one year high of $11.08.

Freehold Royalties Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $0.0653 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a yield of 7.76%. Freehold Royalties’s dividend payout ratio is 181.76%.

Analyst Upgrades and Downgrades

Separately, Raymond James started coverage on shares of 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 Company Profile

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.