Shares of Diversified Royalty Corp. (TSE:DIV – Get Rating) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$3.01 and traded as high as C$3.03. Diversified Royalty shares last traded at C$3.00, with a volume of 280,482 shares changing hands.
Analysts Set New Price Targets
DIV has been the topic of a number of analyst reports. CIBC decreased their target price on shares of Diversified Royalty from C$3.50 to C$3.30 and set an “outperform” rating on the stock in a research report on Monday, March 13th. Pi Financial boosted their target price on shares of Diversified Royalty from C$4.30 to C$4.50 and gave the company a “buy” rating in a research note on Friday, April 21st.
Diversified Royalty Trading Down 0.7 %
The business’s 50 day moving average price is C$3.01 and its 200-day moving average price is C$3.08. The company has a debt-to-equity ratio of 85.42, a quick ratio of 1.74 and a current ratio of 2.26. The company has a market cap of C$424.92 million, a price-to-earnings ratio of 25.00 and a beta of 1.52.
Diversified Royalty Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Wednesday, May 31st. Stockholders of record on Monday, May 15th will be issued a dividend of $0.02 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 8.00%. The ex-dividend date is Friday, May 12th. Diversified Royalty’s dividend payout ratio is currently 200.00%.
About Diversified Royalty
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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