Diversified Royalty Corp. (TSE:DIV - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as C$3.71 and last traded at C$3.70, with a volume of 305693 shares traded. The stock had previously closed at C$3.62.
Wall Street Analyst Weigh In
Several research firms recently issued reports on DIV. Desjardins upped their price target on Diversified Royalty from C$3.75 to C$4.00 in a research report on Thursday, August 7th. Raymond James Financial raised their price target on Diversified Royalty from C$3.40 to C$3.60 and gave the company an "outperform" rating in a report on Thursday, June 19th. Finally, CIBC lifted their price objective on shares of 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. One investment 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of C$3.70.
Check Out Our Latest Stock Analysis on DIV
Diversified Royalty Stock Up 1.6%
The firm's 50 day moving average price is C$3.44 and its two-hundred day moving average price is C$3.10. The company has a market capitalization of C$637.94 million, a P/E ratio of 23.50 and a beta of 0.87. The company has a current ratio of 4.28, a quick ratio of 1.74 and a debt-to-equity ratio of 90.70.
Diversified Royalty Announces Dividend
The company also recently announced a sep 25 dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 18th will be paid a dividend of $0.0229 per share. This represents a yield of 760.0%. The ex-dividend date of this dividend is Monday, September 15th. Diversified Royalty's dividend payout ratio (DPR) is currently 157.53%.
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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