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Diversified Royalty (TSE:DIV) Shares Pass Above 50 Day Moving Average - What's Next?

Diversified Royalty logo with Industrials background

Diversified Royalty Corp. (TSE:DIV - Get Free Report)'s stock price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$2.90 and traded as high as C$3.14. Diversified Royalty shares last traded at C$3.11, with a volume of 3,185,592 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. CIBC boosted their target price on shares of Diversified Royalty from C$3.10 to C$3.20 and gave the company a "neutral" rating in a research note on Thursday. Raymond James Financial lifted their price objective on Diversified Royalty from C$3.40 to C$3.60 and gave the stock an "outperform" rating in a report on Thursday. Finally, Desjardins set a C$3.75 price objective on Diversified Royalty and gave the company a "buy" rating in a research report on Wednesday, February 26th. 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 data from MarketBeat.com, Diversified Royalty has an average rating of "Buy" and an average price target of C$3.64.

Read Our Latest Analysis on Diversified Royalty

Diversified Royalty Price Performance

The company has a market capitalization of C$486.16 million, a P/E ratio of 16.60 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 firm's 50-day moving average is C$2.92 and its 200-day moving average is C$2.86.

Diversified Royalty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 30th will be paid a $0.0208 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.25 annualized dividend and a dividend yield of 7.85%. Diversified Royalty's dividend payout ratio (DPR) is 130.49%.

About Diversified Royalty

(Get Free Report)

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.

Further Reading

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