Diversified Royalty (TSE:DIV) Reaches New 52-Week High - Time to Buy?

Key Points

• Diversified Royalty Corp's share price hit a new 52-week high at C$3.81, with the last trade at C$3.76 and a trading volume of 274,482 shares.
• Analyst ratings indicate a consensus of "Moderate Buy" with several price target adjustments, including Desjardins raising their target to C$4.00.
• The company declared a dividend of $0.0229 to be paid on September 29, representing an impressive yield of 760.0%.

Diversified Royalty Corp. (TSE:DIV - Get Free Report)'s share price reached a new 52-week high on Wednesday . The company traded as high as C$3.81 and last traded at C$3.76, with a volume of 274482 shares trading hands. The stock had previously closed at C$3.78.

Analyst Ratings Changes

A number of analysts have weighed in on the company. 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 research note on Thursday, June 19th. Desjardins raised their price target on Diversified Royalty from C$3.75 to C$4.00 in a research note on Thursday, August 7th. Finally, CIBC raised their price target 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 equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$3.60.

Diversified Royalty Price Performance

The stock has a 50-day moving average price of C$3.45 and a 200 day moving average price of C$3.11. The company has a debt-to-equity ratio of 90.70, a current ratio of 4.28 and a quick ratio of 1.74. The firm has a market cap of C$637.94 million, a price-to-earnings ratio of 23.50 and a beta of 0.87.

Diversified Royalty Dividend Announcement

The business also recently declared a sep 25 dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 18th will be given a $0.0229 dividend. This represents a yield of 760.0%. The ex-dividend date is Monday, September 15th. Diversified Royalty's payout ratio is 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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