Diversified Royalty (TSE:DIV) Stock Price Down 7.8%

Diversified Royalty Corp. (TSE:DIVGet Rating) fell 7.8% during trading on Tuesday . The company traded as low as C$2.82 and last traded at C$2.84. 813,010 shares changed hands during mid-day trading, an increase of 171% from the average session volume of 300,111 shares. The stock had previously closed at C$3.08.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on DIV shares. Cormark boosted their price target on Diversified Royalty from C$3.75 to C$4.00 in a report on Monday, August 15th. Canaccord Genuity Group boosted their price target on Diversified Royalty from C$3.00 to C$3.50 in a report on Tuesday, October 18th. Finally, CIBC boosted their price target on Diversified Royalty from C$3.15 to C$3.25 and gave the company a “neutral” rating in a report on Monday.

Diversified Royalty Trading Down 1.1 %

The company has a debt-to-equity ratio of 83.49, a quick ratio of 1.74 and a current ratio of 1.99. The firm has a market capitalization of C$349.34 million and a price-to-earnings ratio of 13.38. The company has a 50 day moving average price of C$2.89 and a two-hundred day moving average price of C$2.79.

Diversified Royalty Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 30th will be paid a dividend of $0.0196 per share. This represents a $0.24 annualized dividend and a dividend yield of 8.37%. The ex-dividend date of this dividend is Monday, November 14th. Diversified Royalty’s payout ratio is 109.52%.

Insider Transactions at Diversified Royalty

In other news, Director Lance Tracey sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of C$2.80, for a total transaction of C$112,000.00.

Diversified Royalty Company Profile

(Get Rating)

Diversified Royalty Corp., a multi-royalty corporation, engages in the acquisition of royalties from multi-location businesses and franchisors in North America. The company owns the Mr. Lube, AIR MILES, Sutton, Mr. Mikes, Nurse Next Door, and Oxford Learning Centres trademarks. The company was formerly known as BENEV Capital Inc and changed its name to Diversified Royalty Corp.

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