Diversified Royalty (TSE:DIV) Share Price Crosses Above Fifty Day Moving Average - Here's What Happened

Key Points

• Diversified Royalty Corp. shares have crossed above their fifty-day moving average of C$3.55, reaching a high of C$3.64 during trading on Thursday.
• Recent analyst ratings have increased the price targets for the stock, with Raymond James raising it to C$3.60 and Desjardins to C$4.00, indicating a consensus rating of "Moderate Buy."
• The company announced a monthly dividend of $0.0229, set to be paid on October 31st, which represents a yield of 7.7% with the ex-dividend date on October 15th.

Diversified Royalty Corp. (TSE:DIV - Get Free Report) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$3.55 and traded as high as C$3.64. Diversified Royalty shares last traded at C$3.57, with a volume of 406,366 shares.

Analyst Ratings Changes

Several equities research analysts recently weighed in on DIV shares. Raymond James Financial increased their price target on Diversified Royalty from C$3.40 to C$3.60 and gave the stock an "outperform" rating in a report on Thursday, June 19th. CIBC increased their price target on 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, Desjardins increased their price target on Diversified Royalty from C$3.75 to C$4.00 in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$3.60.

Diversified Royalty Trading Down 1.7%

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 business has a fifty day simple moving average of C$3.55 and a 200 day simple moving average of C$3.19. The company has a market cap of C$605.71 million, a price-to-earnings ratio of 22.31 and a beta of 0.93.

Diversified Royalty Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 31st will be issued a $0.0229 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a c) dividend on an annualized basis and a yield of 7.7%. 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.

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