Diversified Royalty (TSE:DIV) Sets New 12-Month High - Still a Buy?

Diversified Royalty Corp. (TSE:DIV - Get Free Report) shares hit 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 trading hands. The stock had previously closed at C$3.24.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on DIV shares. Raymond James Financial boosted their price objective on shares of Diversified Royalty from C$3.40 to C$3.60 and gave the company an "outperform" rating in a research report on Thursday, June 19th. CIBC lifted their target price on shares of 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 analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of C$3.64.

Diversified Royalty Price Performance

The stock's 50 day moving average price is C$3.00 and its two-hundred day moving average price is C$2.88. 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 capitalization of C$498.39 million, a price-to-earnings ratio of 17.02 and a beta of 1.57.

Diversified Royalty Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 31st will be paid a $0.0229 dividend. This represents a $0.27 dividend on an annualized basis and a dividend yield of 8.43%. This is a boost from Diversified Royalty's previous monthly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, July 15th. Diversified Royalty's payout ratio 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.

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