Diversified Royalty (TSE:DIV) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Diversified Royalty Corp. (TSE:DIV - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$2.88 and traded as high as C$3.25. Diversified Royalty shares last traded at C$3.22, with a volume of 212,363 shares traded.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. CIBC upped their price objective on shares of Diversified Royalty from C$3.10 to C$3.20 and gave the company a "neutral" rating in a report on Thursday, June 19th. Raymond James Financial increased their price target on Diversified Royalty from C$3.40 to C$3.60 and gave the stock an "outperform" rating in a research report on Thursday, June 19th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of C$3.64.

Diversified Royalty Trading Down 0.6%

The stock has a market cap of C$492.27 million, a PE ratio of 16.81 and a beta of 1.57. The company's 50-day moving average price is C$2.99 and its 200 day moving average price is C$2.88. The company has a debt-to-equity ratio of 90.70, a quick ratio of 1.74 and a current ratio of 4.28.

Diversified Royalty Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 30th were paid a $0.0208 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 7.75%. The ex-dividend date of this dividend was Friday, June 13th. Diversified Royalty's dividend payout ratio (DPR) is 130.49%.

Diversified Royalty Company Profile

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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