Freehold Royalties (TSE:FRU) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Freehold Royalties shares moved above their 200-day moving average on Thursday, trading as high as C$17.24 and last changing hands at C$17.15.
• Broker sentiment remains cautious: RBC raised its price target to C$18.00 with a sector perform rating, while Raymond James downgraded the stock to hold; overall consensus is also Hold.
• The company announced a monthly dividend of C$0.09 per share, payable August 17, implying an annualized yield of 6.3%.

Freehold Royalties Ltd. (TSE:FRU - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$16.89 and traded as high as C$17.24. Freehold Royalties shares last traded at C$17.15, with a volume of 582,209 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently commented on FRU. Royal Bank Of Canada boosted their price objective on Freehold Royalties from C$17.00 to C$18.00 and gave the company a "sector perform" rating in a research report on Monday, April 13th. Raymond James Financial cut Freehold Royalties from a "moderate buy" rating to a "hold" rating and increased their target price for the stock from C$17.50 to C$18.00 in a research report on Monday, March 30th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of C$17.03.

Freehold Royalties Stock Performance

The firm's 50-day moving average price is C$16.83 and its 200-day moving average price is C$16.89. The company has a debt-to-equity ratio of 30.45, a current ratio of 1.73 and a quick ratio of 1.50. The stock has a market cap of C$2.81 billion, a P/E ratio of 31.76, a PEG ratio of -0.92 and a beta of 0.59.

Freehold Royalties (TSE:FRU - Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported C$0.21 earnings per share for the quarter. The firm had revenue of C$77.82 million during the quarter. Freehold Royalties had a net margin of 29.84% and a return on equity of 8.81%. Sell-side analysts expect that Freehold Royalties Ltd. will post 0.7581169 earnings per share for the current fiscal year.

Freehold Royalties Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. Freehold Royalties's dividend payout ratio (DPR) is presently 200.00%.

Insider Activity

In other news, insider Bradley Robert Monaco bought 6,060 shares of Freehold Royalties stock in a transaction dated Monday, June 22nd. The shares were purchased at an average cost of C$16.56 per share, with a total value of C$100,353.60. Following the completion of the acquisition, the insider owned 6,060 shares of the company's stock, valued at C$100,353.60. This trade represents a ∞ increase in their position. Company insiders own 0.45% of the company's stock.

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. The majority of its revenue is generated from Canada Segment.

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