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

Diversified Royalty logo with Industrials background

Shares of Diversified Royalty Corp. (TSE:DIV - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as C$3.27 and last traded at C$3.25, with a volume of 235789 shares. The stock had previously closed at C$3.24.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Raymond James Financial increased their price objective on shares of Diversified Royalty from C$3.40 to C$3.60 and gave the stock an "outperform" rating in a research report on Thursday, June 19th. CIBC upped their price objective on Diversified Royalty from C$3.10 to C$3.20 and gave the company a "neutral" rating in a research report on Thursday, June 19th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Diversified Royalty presently has a consensus rating of "Buy" and an average target price of C$3.64.

Check Out Our Latest Research Report on DIV

Diversified Royalty Price Performance

The company has a current ratio of 4.28, a quick ratio of 1.74 and a debt-to-equity ratio of 90.70. The firm has a market cap of C$504.50 million, a P/E ratio of 17.23 and a beta of 1.57. The business has a 50-day moving average price of C$3.03 and a 200-day moving average price of C$2.89.

Diversified Royalty Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 31st will be paid 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 8.33%. Diversified Royalty's payout ratio is 130.49%.

About Diversified Royalty

(Get Free Report)

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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