Freehold Royalties (TSE:FRU) Shares Cross Above 200-Day Moving Average - Time to Sell?

Key Points

• Freehold Royalties shares surpassed their 200-day moving average of C$12.50, reaching a high of C$13.24 during trading.
• Analysts have revised their price targets for Freehold Royalties, with Desjardins lowering their target from C$14.25 to C$14.00 and maintaining a "hold" rating.
• The company announced a monthly dividend of $0.09 per share, reflecting an annualized yield of 8.2%, with an ex-dividend date set for August 29th.

Freehold Royalties Ltd. (TSE:FRU - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$12.50 and traded as high as C$13.24. Freehold Royalties shares last traded at C$13.19, with a volume of 510,653 shares trading hands.

Analysts Set New Price Targets

Separately, Desjardins dropped their target price on Freehold Royalties from C$14.25 to C$14.00 and set a "hold" rating on the stock in a report on Thursday, May 22nd. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Freehold Royalties has a consensus rating of "Hold" and a consensus price target of C$15.40.

Freehold Royalties Stock Performance

The stock has a market cap of C$2.01 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of -0.92 and a beta of 1.93. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 22.91. The business has a 50 day moving average price of C$13.02 and a two-hundred day moving average price of C$12.51.

Freehold Royalties Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 15th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, August 29th. This represents a c) dividend on an annualized basis and a yield of 8.1%. Freehold Royalties's dividend payout ratio is 122.40%.

Insider Buying and Selling

In other news, Senior Officer Colin Strem purchased 4,000 shares of the business's stock in a transaction on Monday, June 23rd. The shares were acquired at an average cost 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 Freehold Royalties stock in a transaction dated Friday, June 27th. The shares were acquired at an average cost of C$12.84 per share, for a total transaction of C$30,174.00. In the last three months, insiders have acquired 48,350 shares of company stock valued at $609,091. 0.45% of the stock is currently 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.