Diversified Royalty Corp. (TSE:DIV - Get Free Report) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$3.16 and traded as high as C$3.31. Diversified Royalty shares last traded at C$3.29, with a volume of 188,884 shares.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. CIBC lifted 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. Raymond James Financial lifted 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 hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Diversified Royalty presently has an average rating of "Buy" and a consensus target price of C$3.64.
View Our Latest Research Report on DIV
Diversified Royalty Trading Up 0.3%
The business's fifty day moving average price is C$3.16 and its 200 day moving average price is C$2.94. 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 firm has a market capitalization of C$502.98 million, a PE ratio of 17.17 and a beta of 1.57.
Diversified Royalty Increases Dividend
The business also recently announced a monthly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 31st were given a $0.0229 dividend. This is a boost from Diversified Royalty's previous monthly dividend of $0.02. This represents a c) annualized dividend and a dividend yield of 8.4%. The ex-dividend date of this dividend was Tuesday, July 15th. Diversified Royalty's dividend payout ratio is 130.49%.
About Diversified Royalty
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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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