Scully Royalty Ltd. (NYSE:SRL) Sees Significant Decline in Short Interest

Scully Royalty Ltd. (NYSE:SRL) was the recipient of a large drop in short interest in May. As of May 15th, there was short interest totaling 2,355 shares, a drop of 87.1% from the April 30th total of 18,274 shares. Based on an average trading volume of 10,645 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the company’s stock are short sold.

Analyst Ratings Changes

Several brokerages recently commented on SRL. Weiss Ratings reiterated a “sell (d+)” rating on shares of Scully Royalty in a research note on Friday, May 22nd. Wall Street Zen upgraded shares of Scully Royalty to a “hold” rating in a research note on Saturday, March 7th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Scully Royalty has a consensus rating of “Sell”.

Scully Royalty Trading Down 1.3%

NYSE SRL traded down $0.08 during trading on Friday, reaching $6.13. The company’s stock had a trading volume of 1,100 shares, compared to its average volume of 5,855. Scully Royalty has a twelve month low of $5.13 and a twelve month high of $10.39. The business’s fifty day moving average price is $6.89 and its 200-day moving average price is $7.44.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SRL. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Scully Royalty during the third quarter worth about $86,000. Barclays PLC acquired a new position in shares of Scully Royalty during the fourth quarter worth about $249,000. Finally, Renaissance Technologies LLC increased its stake in shares of Scully Royalty by 41.0% during the first quarter. Renaissance Technologies LLC now owns 68,114 shares of the financial services provider’s stock worth $533,000 after acquiring an additional 19,800 shares during the period. 41.96% of the stock is currently owned by institutional investors and hedge funds.

About Scully Royalty

Scully Royalty Ltd. is a mineral royalty company that acquires, owns and manages a diversified portfolio of oil and gas royalty and overriding royalty interests in key onshore producing regions of the United States. As a royalty owner, the company receives a percentage of production revenue from its assets without assuming the operational and capital expenditure burdens associated with exploration and development.

The company’s portfolio spans multiple established hydrocarbon basins, including conventional and unconventional plays.