Diversified Royalty (TSE:DIV) Hits New 52-Week High - Should You Buy?

Key Points

• Diversified Royalty Corp. has reached a new 52-week high at C$3.66, with a significant trading volume of 102,488 shares.
• Analysts have raised their price targets, with Desjardins increasing their target to C$4.00, while the average rating for the stock is currently a "Buy".
• The company declared a dividend of $0.0229, yielding 760.0%, with an ex-dividend date of September 15th.

Diversified Royalty Corp. (TSE:DIV - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as C$3.66 and last traded at C$3.66, with a volume of 102488 shares. The stock had previously closed at C$3.63.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Raymond James Financial boosted their target price on Diversified Royalty from C$3.40 to C$3.60 and gave the stock an "outperform" rating in a research note on Thursday, June 19th. Desjardins upped their price objective on Diversified Royalty from C$3.75 to C$4.00 in a research note on Thursday, August 7th. Finally, CIBC upped their price objective on Diversified Royalty from C$3.10 to C$3.20 and gave the company a "neutral" rating in a research note on Thursday, June 19th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of C$3.70.

Diversified Royalty Price Performance

The business's fifty day simple moving average is C$3.38 and its 200-day simple moving average is C$3.05. 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 firm has a market cap of C$622.67 million, a P/E ratio of 22.94 and a beta of 0.87.

Diversified Royalty Dividend Announcement

The company also recently declared a sep 25 dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 29th will be issued a $0.0229 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a dividend yield of 760.0%. Diversified Royalty's dividend payout ratio is presently 157.53%.

About Diversified Royalty

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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