Diversified Royalty (TSE:DIV) Insider Acquires C$50,756.52 in Stock

Key Points

• Insider Sean Morrison purchased 12,626 Diversified Royalty shares at C$4.02 each, investing C$50,756.52 and increasing his direct ownership by 1.66% to 771,648 shares.
• Diversified Royalty shares traded at approximately C$4.10, while the company reported quarterly revenue of C$19.48 million and earnings of C$0.02 per share.
• The company declared a monthly dividend of C$0.0238, representing an annualized yield of about 7.0%; analysts maintained a consensus “Buy” rating with a target price of C$5.25.

Diversified Royalty Corp. (TSE:DIV - Get Free Report) insider Sean Morrison purchased 12,626 shares of the business's stock in a transaction on Friday, August 14th. The shares were acquired at an average price of C$4.02 per share, for a total transaction of C$50,756.52. Following the completion of the purchase, the insider directly owned 771,648 shares of the company's stock, valued at approximately C$3,102,024.96. This trade represents a 1.66% increase in their ownership of the stock.

Diversified Royalty Stock Up 0.2%

Shares of DIV traded up C$0.01 during mid-day trading on Wednesday, hitting C$4.10. 627,617 shares of the company's stock were exchanged, compared to its average volume of 472,810. The company has a market cap of C$766.90 million, a price-to-earnings ratio of 24.12 and a beta of 1.11. Diversified Royalty Corp. has a fifty-two week low of C$3.37 and a fifty-two week high of C$4.98. The company has a debt-to-equity ratio of 212.48, a quick ratio of 1.74 and a current ratio of 0.49. The stock's 50-day moving average is C$4.61 and its 200-day moving average is C$4.39.

Diversified Royalty (TSE:DIV - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported C$0.02 earnings per share for the quarter. The firm had revenue of C$19.48 million during the quarter. Diversified Royalty had a net margin of 39.72% and a return on equity of 10.39%. On average, sell-side analysts anticipate that Diversified Royalty Corp. will post 0.2 earnings per share for the current fiscal year.

Diversified Royalty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 31st will be given a $0.0238 dividend. This represents a c) annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Friday, August 14th. Diversified Royalty's dividend payout ratio (DPR) is currently 165.69%.

Wall Street Analysts Forecast Growth

DIV has been the topic of a number of recent research reports. ATB Cormark Capital Markets cut their price objective on Diversified Royalty from C$7.25 to C$7.00 and set an "outperform" rating on the stock in a research report on Friday, August 14th. Canaccord Genuity Group boosted their target price on Diversified Royalty from C$4.75 to C$5.50 and gave the stock a "buy" rating in a research note on Wednesday, May 20th. Raymond James Financial upped their price target on Diversified Royalty from C$4.70 to C$5.00 and gave the stock an "outperform" rating in a report on Thursday, July 9th. Finally, Desjardins reduced their price target on Diversified Royalty from C$5.00 to C$4.75 and set a "buy" rating on the stock in a research report on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Diversified Royalty has a consensus rating of "Buy" and a consensus target price of C$5.25.

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. All of the company's operating revenues are earned from the receipt of royalties and management fees from its Royalty Partners.

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