Diversified Royalty (TSE:DIV) Reaches New 52-Week High at $2.97

Diversified Royalty Corp. (TSE:DIV) shares reached a new 52-week high on Thursday . The company traded as high as C$2.97 and last traded at C$2.96, with a volume of 237197 shares. The stock had previously closed at C$2.92.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on DIV shares. Ventum Financial set a C$4.00 price target on shares of Diversified Royalty and gave the stock a “buy” rating in a research note on Tuesday. Ventum Cap Mkts raised shares of Diversified Royalty to a “strong-buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$3.60.

Diversified Royalty Price Performance

The company has a market cap of C$491.39 million, a price-to-earnings ratio of 14.05 and a beta of 1.56. The company has a quick ratio of 1.74, a current ratio of 5.73 and a debt-to-equity ratio of 89.69. The company’s fifty day moving average price is C$2.81 and its two-hundred day moving average price is C$2.80.

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

Diversified Royalty Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.021 dividend. This represents a $0.25 annualized dividend and a dividend yield of 8.48%. The ex-dividend date is Friday, September 13th. Diversified Royalty’s dividend payout ratio (DPR) is presently 119.05%.

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. It owns the Sutton, Mr. Lube + Tires, AIR MILES, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions, and BarBurrito trademarks.