Diversified Royalty Corp. (TSE:DIV - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as C$3.20 and last traded at C$3.20, with a volume of 228288 shares. The stock had previously closed at C$3.18.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. CIBC boosted their price target on Diversified Royalty from C$3.10 to C$3.20 and gave the stock a "neutral" rating in a research note on Thursday, June 19th. Raymond James Financial boosted their target price on shares of Diversified Royalty from C$3.40 to C$3.60 and gave the stock an "outperform" rating in a research report on Thursday, June 19th. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Diversified Royalty presently has an average rating of "Buy" and an average target price of C$3.64.
Get Our Latest Stock Report on DIV
Diversified Royalty Stock Performance
The company has a quick ratio of 1.74, a current ratio of 4.28 and a debt-to-equity ratio of 90.70. The stock has a market capitalization of C$495.33 million, a PE ratio of 16.91 and a beta of 1.57. The firm has a 50 day moving average price of C$2.98 and a 200-day moving average price of C$2.87.
Diversified Royalty Announces Dividend
The firm also recently declared a monthly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were given a dividend of $0.0208 per share. This represents a $0.25 dividend on an annualized basis and a yield of 7.70%. The ex-dividend date was Friday, June 13th. Diversified Royalty's dividend payout ratio is presently 130.49%.
About Diversified Royalty
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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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