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

Key Points

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Diversified Royalty Corp. (TSE:DIV - Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as C$3.48 and last traded at C$3.44, with a volume of 275329 shares. The stock had previously closed at C$3.44.

Wall Street Analyst Weigh In

DIV has been the subject of several recent analyst reports. Desjardins increased their price objective on shares of Diversified Royalty from C$3.75 to C$4.00 in a research report on Thursday, August 7th. CIBC raised their price target on shares of Diversified Royalty from C$3.10 to C$3.20 and gave the stock a "neutral" rating in a report on Thursday, June 19th. Finally, Raymond James Financial raised their price target on shares of Diversified Royalty from C$3.40 to C$3.60 and gave the stock an "outperform" rating in a report on Thursday, June 19th. One research 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 currently has a consensus rating of "Buy" and an average price target of C$3.70.

Diversified Royalty Price Performance

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$522.85 million, a price-to-earnings ratio of 17.85 and a beta of 1.57. The business's fifty day simple moving average is C$3.27 and its 200 day simple moving average is C$2.99.

Diversified Royalty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 29th will be paid a $0.0229 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date of this dividend is Friday, August 15th. Diversified Royalty's dividend payout ratio (DPR) is 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.