SIR Royalty Income Fund (TSE:SRV.UN) Sets New 1-Year High - Here's Why

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.

SIR Royalty Income Fund (TSE:SRV.UN - ) shares hit a new 52-week high on Wednesday . The stock 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 Price Performance

The stock has a market capitalization of C$124.05 million, a price-to-earnings ratio of 11.94 and a beta of -0.14. The stock's 50 day simple moving average is C$14.26 and its 200-day simple moving average is C$13.37.

SIR Royalty Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 29th were given a dividend of $0.10 per share. This represents a c) annualized dividend and a yield of 8.1%. The ex-dividend date of this dividend was Friday, August 15th. SIR Royalty Income Fund's dividend payout ratio is presently 91.94%.

Insiders Place Their Bets

In other SIR Royalty Income Fund news, insider Lembit Janes sold 7,000 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of C$13.71, for a total value of C$95,970.00. 28.33% of the stock is currently owned by company insiders.

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.

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