Diversified Royalty (TSE:DIV) Reaches New 1-Year High - Should You Buy?

Diversified Royalty Corp. (TSE:DIV - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$3.33 and last traded at C$3.32, with a volume of 321699 shares. The stock had previously closed at C$3.27.

Analyst Ratings Changes

Several brokerages have recently commented on DIV. CIBC increased their price objective on 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. Raymond James Financial increased their price objective on Diversified Royalty from C$3.40 to C$3.60 and gave the stock an "outperform" rating in a research note on Thursday, June 19th. One 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, Diversified Royalty has an average rating of "Buy" and a consensus price target of C$3.64.

Diversified Royalty Stock Down 0.9%

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 has a market capitalization of C$502.98 million, a PE ratio of 17.17 and a beta of 1.57. The stock has a 50-day moving average of C$3.11 and a 200 day moving average of C$2.92.

Diversified Royalty Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 31st will be given a dividend of $0.0229 per share. This represents a $0.27 dividend on an annualized basis and a dividend yield of 8.35%. This is an increase from Diversified Royalty's previous monthly dividend of $0.02. The ex-dividend date is Tuesday, July 15th. Diversified Royalty's dividend payout ratio (DPR) is presently 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.