Freehold Royalties (TSE:FRU) Sets New 1-Year Low on Analyst Downgrade

Freehold Royalties Ltd. (TSE:FRU)’s share price reached a new 52-week low during trading on Thursday after Raymond James lowered their price target on the stock from C$16.00 to C$14.00. The stock traded as low as C$10.53 and last traded at C$11.81, with a volume of 1112718 shares trading hands. The stock had previously closed at C$10.86.

Several other equities research analysts also recently commented on the stock. BMO Capital Markets upgraded shares of Freehold Royalties from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. National Bankshares lifted their price target on shares of Freehold Royalties from C$15.50 to C$16.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Desjardins increased their price objective on Freehold Royalties from C$16.50 to C$17.00 and gave the company a “buy” rating in a report on Friday, March 14th. Scotiabank raised Freehold Royalties to a “hold” rating in a report on Wednesday, March 19th. Finally, CIBC set a C$16.00 price target on Freehold Royalties and gave the company a “neutral” rating in a research note on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Freehold Royalties has a consensus rating of “Moderate Buy” and an average target price of C$16.57.

Freehold Royalties Price Performance

The company has a debt-to-equity ratio of 22.91, a quick ratio of 1.50 and a current ratio of 1.65. The business has a 50 day moving average price of C$12.47 and a 200-day moving average price of C$13.18. The company has a market capitalization of C$1.78 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of -0.92 and a beta of 1.93.

Freehold Royalties Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 17th were paid a $0.09 dividend. This represents a $1.08 annualized dividend and a yield of 9.14%. The ex-dividend date was Friday, February 28th. Freehold Royalties’s dividend payout ratio (DPR) is presently 122.40%.

About Freehold Royalties

Freehold Royalties Ltd is in acquiring and managing Oil and Gas royalties. It operates in two segments: Canada, which includes exploration and evaluation assets and the petroleum and natural gas interests in Western Canada; and the United States, which includes petroleum and natural gas interests held in the Permian (Midland and Delaware), Eagle Ford, Haynesville and Bakken basins primarily located in the states of Texas, Louisiana, and North Dakota.