Diversified Royalty (TSE:DIV) Shares Cross Above 50-Day Moving Average - Should You Sell?

Diversified Royalty Corp. (TSE:DIV - Get Free Report)'s share price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$3.04 and traded as high as C$3.33. Diversified Royalty shares last traded at C$3.31, with a volume of 597,132 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DIV. Raymond James Financial raised their price target 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. CIBC raised their target price on shares of Diversified Royalty from C$3.10 to C$3.20 and gave the stock a "neutral" rating in a research report on Thursday, June 19th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of C$3.64.

Diversified Royalty Trading Down 1.2%

The stock has a market capitalization of C$502.98 million, a price-to-earnings ratio of 17.17 and a beta of 1.57. 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 business's 50-day simple moving average is C$3.05 and its two-hundred day simple moving average is C$2.90.

Diversified Royalty Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 31st will be given a dividend of $0.0229 per share. This represents a $0.27 dividend on an annualized basis and a yield of 8.35%. This is a boost from Diversified Royalty's previous monthly dividend of $0.02. The ex-dividend date is Tuesday, July 15th. Diversified Royalty's payout ratio is 130.49%.

About Diversified Royalty

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.