Diversified Royalty (TSE:DIV) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Diversified Royalty Corp. (TSE:DIV - Get Free Report)'s share price crossed 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 changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DIV shares. CIBC increased their price objective on 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. Raymond James Financial increased their price objective on 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. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Diversified Royalty currently has a consensus rating of "Buy" and a consensus price target of C$3.64.

Diversified Royalty Stock Performance

The business has a fifty day simple moving average of C$3.00 and a two-hundred day simple moving average of C$2.88. The company has a quick ratio of 1.74, a current ratio of 4.28 and a debt-to-equity ratio of 90.70. The company has a market cap of C$495.33 million, a P/E ratio of 16.91 and a beta of 1.57.

Diversified Royalty Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were issued a $0.0208 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 7.70%. The ex-dividend date of this dividend was Friday, June 13th. Diversified Royalty's dividend payout ratio 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.