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

Diversified Royalty Corp. (TSE:DIV - Get Free Report) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$2.78 and traded as high as C$2.90. Diversified Royalty shares last traded at C$2.89, with a volume of 173,383 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. CIBC lifted their target price on Diversified Royalty from C$3.00 to C$3.10 and gave the company a "neutral" rating in a research report on Tuesday, March 25th. Desjardins set a C$3.75 target price on shares of Diversified Royalty and gave the stock a "buy" rating in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of C$3.62.

Diversified Royalty Price 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 firm has a market capitalization of C$438.77 million, a PE ratio of 14.98 and a beta of 1.57. The stock has a fifty day moving average price of C$2.78 and a 200-day moving average price of C$2.88.

Diversified Royalty Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, April 30th. Investors of record on Wednesday, April 30th were paid a dividend of $0.0208 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.25 annualized dividend and a yield of 8.70%. Diversified Royalty's dividend payout ratio (DPR) 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.

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