Diversified Royalty (TSE:DIV) Hits New 1-Year High at $3.00

Shares of Diversified Royalty Corp. (TSE:DIV) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$3.00 and last traded at C$3.00, with a volume of 197805 shares trading hands. The stock had previously closed at C$2.99.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Ventum Cap Mkts upgraded shares of Diversified Royalty to a “strong-buy” rating in a report on Tuesday, September 24th. Ventum Financial set a C$4.00 target price on Diversified Royalty and gave the stock a “buy” rating in a report on Tuesday, September 24th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$3.60.

Diversified Royalty Price Performance

The firm has a market cap of C$494.70 million, a PE ratio of 14.24 and a beta of 1.56. The company has a 50-day simple moving average of C$2.83 and a 200-day simple moving average of C$2.81. The company has a debt-to-equity ratio of 89.69, a current ratio of 5.73 and a quick ratio of 1.74.

Diversified Royalty (TSE:DIV) last announced its earnings results on Friday, August 9th. The company reported C$0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$0.05. The business had revenue of C$16.78 million for the quarter, compared to analysts’ expectations of C$17.50 million. Diversified Royalty had a return on equity of 12.02% and a net margin of 51.17%. Analysts expect that Diversified Royalty Corp. will post 0.1950568 earnings per share for the current fiscal year.

Diversified Royalty Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.021 dividend. This represents a $0.25 annualized dividend and a yield of 8.43%. The ex-dividend date was Friday, September 13th. Diversified Royalty’s dividend payout ratio is presently 119.05%.

Diversified Royalty Company Profile

Diversified Royalty Corp., a multi-royalty corporation, engages in the acquisition of royalties from multi-location businesses and franchisors in North America. It owns the Sutton, Mr. Lube + Tires, AIR MILES, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions, and BarBurrito trademarks.