Diversified Royalty (TSE:DIV) Reaches New 1-Year High - Time to Buy?

Diversified Royalty Corp. (TSE:DIV - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The stock 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 Upgrades and Downgrades

A number of analysts have weighed in on DIV shares. Raymond James Financial increased their target price on shares of Diversified Royalty from C$3.40 to C$3.60 and gave the company an "outperform" rating in a research report on Thursday, June 19th. CIBC increased their target price on Diversified Royalty from C$3.10 to C$3.20 and gave the stock a "neutral" rating in a report on Thursday, June 19th. One investment 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of C$3.64.

Diversified Royalty Trading Down 0.3%

The stock has a market cap of C$501.45 million, a P/E ratio of 17.12 and a beta of 1.57. The company has a debt-to-equity ratio of 90.70, a quick ratio of 1.74 and a current ratio of 4.28. The stock has a 50-day moving average price of C$3.05 and a 200-day moving average price of C$2.90.

Diversified Royalty Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 31st will be issued a $0.0229 dividend. This is an increase 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 dividend on an annualized basis and a yield of 8.38%. 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.