Brokerages Set Freehold Royalties Ltd. (TSE:FRU) Price Target at C$15.40

Key Points

• Freehold Royalties Ltd. has received an average analyst recommendation of "Hold", with five analysts suggesting this, one recommending a buy, and another a strong buy.
• The company's average price target among analysts is C$15.40, while several firms, including Desjardins and Raymond James, have recently reduced their target prices.
• Freehold Royalties declared a monthly dividend of $0.09 per share, equating to an annualized yield of 8.03%, with a current dividend payout ratio of 122.40%.

Shares of Freehold Royalties Ltd. (TSE:FRU - Get Free Report) have received a consensus recommendation of "Hold" from the seven ratings firms that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is C$15.40.

Several research analysts have recently issued reports on the stock. Desjardins lowered their target price on shares of Freehold Royalties from C$14.25 to C$14.00 and set a "hold" rating for the company in a report on Thursday, May 22nd. Raymond James Financial cut their price target on shares of Freehold Royalties from C$16.00 to C$14.00 in a report on Wednesday, April 9th. Finally, CIBC dropped their target price on shares of Freehold Royalties from C$16.00 to C$15.00 in a report on Thursday, April 10th.

Freehold Royalties Stock Up 0.1%

FRU traded up C$0.02 during trading hours on Friday, hitting C$13.60. 67,982 shares of the company's stock were exchanged, compared to its average volume of 704,939. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 22.91. Freehold Royalties has a 12-month low of C$10.53 and a 12-month high of C$14.62. The firm has a market cap of C$2.04 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of -0.92 and a beta of 1.93. The firm has a 50 day moving average of C$12.84 and a 200 day moving average of C$12.50.

Freehold Royalties Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be issued a $0.09 dividend. This represents a $1.08 annualized dividend and a yield of 7.94%. The ex-dividend date is Thursday, July 31st. Freehold Royalties's payout ratio is currently 122.40%.

Insider Transactions at Freehold Royalties

In other Freehold Royalties news, Senior Officer Shaina Brianne Morihira purchased 8,000 shares of the company's stock in a transaction on Monday, June 9th. The shares were purchased at an average cost of C$12.57 per share, for a total transaction of C$100,560.00. Also, Senior Officer Colin Strem acquired 4,000 shares of the business's stock in a transaction on Monday, June 23rd. The shares were bought at an average price of C$12.84 per share, for a total transaction of C$51,354.80. Insiders purchased 64,850 shares of company stock valued at $812,206 in the last quarter. 0.45% of the stock is owned by company insiders.

About Freehold Royalties

Freehold Royalties Ltd is in acquiring and managing Oil and Gas royalties. It operates in two segments: Canada, which includes exploration and evaluation assets and the petroleum and natural gas interests in Western Canada; and the United States, which includes petroleum and natural gas interests held in the Permian (Midland and Delaware), Eagle Ford, Haynesville and Bakken basins primarily located in the states of Texas, Louisiana, and North Dakota.