Diversified Royalty (TSE:DIV) Hits New 1-Year High - What's Next?

Key Points

• Diversified Royalty Corp. (TSE:DIV) reached a new 52-week high of C$3.56 during trading, with a volume of 341,741 shares traded.
• Analysts have upgraded their price targets for the stock, with a consensus price target of C$3.70 and a general rating of "Buy."
• The company declared a monthly dividend of $0.0229 per share, yielding approximately 7.7%, although its payout ratio is significantly high at 157.53%.

Diversified Royalty Corp. (TSE:DIV - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$3.56 and last traded at C$3.56, with a volume of 341741 shares trading hands. The stock had previously closed at C$3.52.

Analyst Ratings Changes

Several analysts have issued reports on DIV shares. 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 note on Thursday, June 19th. Raymond James Financial increased their target price 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. Finally, Desjardins increased their target price on Diversified Royalty from C$3.75 to C$4.00 in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of C$3.70.

Diversified Royalty Stock Performance

The company has a debt-to-equity ratio of 90.70, a quick ratio of 1.74 and a current ratio of 4.28. The company has a market cap of C$617.58 million, a price-to-earnings ratio of 22.75 and a beta of 0.87. The company has a fifty day moving average of C$3.35 and a two-hundred day moving average of C$3.04.

Diversified Royalty Announces Dividend

The company also recently disclosed a sep 25 dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 18th will be issued a dividend of $0.0229 per share. Diversified Royalty's dividend payout ratio (DPR) is 157.53%.

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.