Freehold Royalties (TSE:FRU) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Freehold Royalties Ltd. shares surpassed their 200-day moving average, trading at C$13.28, while the stock has seen analyst ratings ranging from Strong Buy to Hold.
• The company recently announced a monthly dividend of $0.09 per share, offering an annualized yield of 8.1% with an upcoming ex-dividend date of August 29th.
• Insider transactions include significant purchases by senior officials, with a total of 12,350 shares valued at $159,349 bought in the last three months.

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$12.60 and traded as high as C$13.40. Freehold Royalties shares last traded at C$13.28, with a volume of 342,651 shares changing hands.

Analysts Set New Price Targets

Separately, Desjardins reduced their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Freehold Royalties presently has a consensus rating of "Hold" and a consensus target price of C$15.40.

Freehold Royalties Stock Up 0.1%

The business's fifty day simple moving average is C$13.26 and its 200 day simple moving average is C$12.61. The stock has a market cap of C$2.24 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of -0.92 and a beta of 0.63. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.6%. Freehold Royalties's dividend payout ratio is 142.11%.

Insider Activity

In related news, Senior Officer Colin Strem bought 4,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were acquired at an average price of C$12.84 per share, with a total value of C$51,354.80. Also, Senior Officer Susan Nagy purchased 2,350 shares of the company's stock in a transaction on Friday, June 27th. The shares were purchased at an average cost of C$12.84 per share, for a total transaction of C$30,174.00. Insiders have acquired 12,350 shares of company stock worth $159,349 over the last ninety days. 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.