SIR Royalty Income Fund (TSE:SRV.UN) Hits New 12-Month High - Time to Buy?

Key Points

• SIR Royalty Income Fund's shares reached a new 52-week high of C$14.90, marking a significant milestone for the stock, which has a market capitalization of C$124.05 million.
• The fund recently announced a monthly dividend of $0.10 per share, yielding an annualized rate of 8.1%, with a current dividend payout ratio of 91.94%.
• Insiders, including Lembit Janes, have been active in selling shares, with 28.33% of the stock currently owned by company insiders, indicating potential confidence or concerns among key stakeholders.

Shares of SIR Royalty Income Fund (TSE:SRV.UN - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as C$14.90 and last traded at C$14.90, with a volume of 559 shares trading hands. The stock had previously closed at C$14.81.

SIR Royalty Income Fund Stock Performance

The company has a market cap of C$123.55 million, a P/E ratio of 11.90 and a beta of -0.15. The stock has a 50-day moving average of C$14.35 and a two-hundred day moving average of C$13.42.

SIR Royalty Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 29th were paid a $0.10 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date was Friday, August 15th. SIR Royalty Income Fund's dividend payout ratio (DPR) is 91.94%.

Insiders Place Their Bets

In related news, insider Lembit Janes sold 7,000 shares of SIR Royalty Income Fund stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of C$13.71, for a total transaction of C$95,970.00. Company insiders own 28.33% of the company's stock.

SIR Royalty Income Fund Company Profile

SIR Royalty Income Fund (The fund) holds an investment in SIR (Service Inspired Restaurant) Corp. The company is a privately held corporation that owns and operates a diverse portfolio of restaurants in Canada. It has concept restaurant brands, including Jack Astor's Bar and Grill and Canyon Creek Chop House, Scaddabush/Alice Fazooli's and signature restaurant brands.