Diversified Royalty (TSE:DIV) Hits New 1-Year High - Still a Buy?

Diversified Royalty Corp. (TSE:DIV - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as C$3.33 and last traded at C$3.31, with a volume of 97361 shares changing hands. The stock had previously closed at C$3.31.

Analyst Ratings Changes

DIV has been the topic of several research reports. Raymond James Financial increased their price target 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. CIBC increased their price target on shares of Diversified Royalty from C$3.10 to C$3.20 and gave the stock a "neutral" rating in a research report on Thursday, June 19th. 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 company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of C$3.64.

Diversified Royalty Price Performance

The firm has a market cap of C$506.03 million, a price-to-earnings ratio of 17.28 and a beta of 1.57. 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 company's 50-day moving average price is C$3.06 and its 200-day moving average price is C$2.90.

Diversified Royalty Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 31st will be issued a $0.0229 dividend. This is a boost from Diversified Royalty's previous monthly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $0.27 annualized dividend and a yield of 8.30%. Diversified Royalty's dividend payout ratio (DPR) is 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.