Diversified Royalty (TSE:DIV) Hits New 1-Year High Following Analyst Upgrade

Shares of Diversified Royalty Corp. (TSE:DIV - Get Free Report) hit a new 52-week high during trading on Thursday after Raymond James Financial raised their price target on the stock from C$3.40 to C$3.60. Raymond James Financial currently has an outperform rating on the stock. Diversified Royalty traded as high as C$3.21 and last traded at C$3.20, with a volume of 587744 shares traded. The stock had previously closed at C$3.11.

A number of other research analysts have also weighed in on DIV. Desjardins set a C$3.75 price objective on shares of Diversified Royalty and gave the company a "buy" rating in a research note on Wednesday, February 26th. CIBC upped their target price on shares of Diversified Royalty from C$3.10 to C$3.20 and gave the stock a "neutral" rating in a report on Thursday. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Diversified Royalty has an average rating of "Buy" and a consensus price target of C$3.64.

Diversified Royalty Stock Up 2.3%

The company has a current ratio of 4.28, a quick ratio of 1.74 and a debt-to-equity ratio of 90.70. The stock has a market capitalization of C$486.16 million, a PE ratio of 16.60 and a beta of 1.57. The stock's fifty day simple moving average is C$2.90 and its 200-day simple moving average is C$2.86.

Diversified Royalty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 30th will be given a dividend of $0.0208 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.25 annualized dividend and a dividend yield of 7.85%. Diversified Royalty's dividend payout ratio is currently 130.49%.

Diversified Royalty Company Profile

Diversified Royalty Corp is a multi-royalty company. It is engaged in the business of acquiring royalties from multi-location businesses and franchisors in North America. As a part of the investment strategy, the firm always purchases trademarks of the companies it is going to acquire. The company gives its partners the benefit of full operational control of their business, participation in the growth of their company, and tax deductibility on royal payments.

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