Scully Royalty (NYSE:SRL) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Scully Royalty Ltd. (NYSE:SRL) shares passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $8.70 and traded as low as $8.64. Scully Royalty shares last traded at $9.09, with a volume of 48,807 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Scully Royalty in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Scully Royalty Price Performance

The company’s 50 day moving average is $8.70 and its 200-day moving average is $6.83. The company has a quick ratio of 5.10, a current ratio of 5.10 and a debt-to-equity ratio of 0.13.

Scully Royalty (NYSE:SRL) last announced its quarterly earnings results on Wednesday, December 31st. The financial services provider reported ($0.05) earnings per share for the quarter. The business had revenue of $6.82 million during the quarter.

Hedge Funds Weigh In On Scully Royalty

A hedge fund recently bought a new stake in Scully Royalty stock. Barclays PLC bought a new position in shares of Scully Royalty Ltd. (NYSE:SRL) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 29,100 shares of the financial services provider’s stock, valued at approximately $249,000. Barclays PLC owned 0.20% of Scully Royalty at the end of the most recent quarter. Institutional investors and hedge funds own 41.96% of the company’s stock.

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.