Diversified Royalty (TSE:DIV) Share Price Crosses Above 50-Day Moving Average - Here's What Happened

Diversified Royalty Corp. (TSE:DIV - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$2.99 and traded as high as C$3.25. Diversified Royalty shares last traded at C$3.22, with a volume of 212,363 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently commented on DIV. Raymond James Financial raised their price objective on shares of Diversified Royalty from C$3.40 to C$3.60 and gave the company an "outperform" rating in a research report on Thursday, June 19th. CIBC upped 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 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 issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of C$3.64.

Diversified Royalty Trading Up 0.3%

The company has a current ratio of 4.28, a quick ratio of 1.74 and a debt-to-equity ratio of 90.70. The company has a fifty day moving average price of C$2.99 and a 200-day moving average price of C$2.88. The firm has a market cap of C$493.80 million, a price-to-earnings ratio of 16.86 and a beta of 1.57.

Diversified Royalty Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 30th were given a dividend of $0.0208 per share. The ex-dividend date was Friday, June 13th. This represents a $0.25 dividend on an annualized basis and a yield of 7.73%. 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.