Freehold Royalties Ltd. (OTCMKTS:FRHLF) Short Interest Up 7.4% in October

Freehold Royalties Ltd. (OTCMKTS:FRHLF) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 3,891,500 shares, a growth of 7.4% from the October 15th total of 3,624,300 shares. Based on an average trading volume of 61,100 shares, the days-to-cover ratio is currently 63.7 days.

Analyst Upgrades and Downgrades

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

Freehold Royalties Price Performance

Shares of Freehold Royalties stock traded up $0.01 during trading on Monday, hitting $9.88. 86,200 shares of the stock were exchanged, compared to its average volume of 31,548. The firm’s 50-day moving average price is $10.13 and its 200 day moving average price is $10.08. Freehold Royalties has a 12-month low of $9.30 and a 12-month high of $11.00.

Freehold Royalties Cuts Dividend

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

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.