SIR Royalty Income Fund (TSE:SRV.UN) Sets New 52-Week High - Here's Why

SIR Royalty Income Fund (TSE:SRV.UN - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$14.18 and last traded at C$14.14, with a volume of 7000 shares traded. The stock had previously closed at C$13.86.

SIR Royalty Income Fund Stock Performance

The company's 50-day moving average is C$13.37 and its 200-day moving average is C$12.94. The firm has a market cap of C$121.93 million, a price-to-earnings ratio of 6.38 and a beta of 2.51.

SIR Royalty Income Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 31st will be paid a $0.10 dividend. The ex-dividend date is Friday, July 18th. This is a boost from SIR Royalty Income Fund's previous monthly dividend of $0.10. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.25%. SIR Royalty Income Fund's dividend payout ratio is 50.00%.

Insider Activity at SIR Royalty Income Fund

In related news, insider Lembit Janes sold 7,000 shares of the stock in a transaction that occurred 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. Over the last three months, insiders sold 28,700 shares of company stock valued at $376,015. Corporate insiders own 28.33% of the company's stock.

SIR Royalty Income Fund Company Profile

SIR Royalty Income Fund, through SIR Royalty Limited Partnership, owns SIR's restaurants in Canada. The company operates concept restaurants under the Jack Astor's Bar and Grill, Scaddabush Italian Kitchen & Bar, and Canyon Creek Chop House; and signature restaurant brands under the Reds Wine Tavern, Reds Midtown Tavern, Reds Square One, and The Loose Moose brands.