Diversified Royalty Corp. (TSE:DIV - Get Free Report)'s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$2.83 and traded as high as C$2.95. Diversified Royalty shares last traded at C$2.94, with a volume of 211,075 shares traded.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on DIV shares. CIBC raised their price target on shares of Diversified Royalty from C$3.00 to C$3.10 and gave the stock a "neutral" rating in a report on Tuesday, March 25th. Desjardins set a C$3.75 price target on shares of Diversified Royalty and gave the stock a "buy" rating in a report on Wednesday, February 26th.
View Our Latest Analysis on DIV
Diversified Royalty Price Performance
The business's 50 day moving average price is C$2.85 and its two-hundred day moving average price is C$2.86. The stock has a market cap of C$451.00 million, a P/E ratio of 15.40 and a beta of 1.57. The company has a current ratio of 4.28, a quick ratio of 1.74 and a debt-to-equity ratio of 90.70.
Diversified Royalty Announces Dividend
The business also recently announced a monthly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 30th were paid a dividend of $0.0208 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 8.46%. The ex-dividend date of this dividend was Thursday, May 15th. Diversified Royalty's payout ratio is 130.49%.
Diversified Royalty Company Profile
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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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