Diversified Royalty (TSE:DIV) Reaches New 52-Week High Following Analyst Upgrade

Diversified Royalty Corp. (TSE:DIV)’s share price hit a new 52-week high during trading on Thursday after Raymond James Financial raised their price target on the stock from C$3.40 to C$3.60. Raymond James Financial currently has an outperform rating on the stock. Diversified Royalty traded as high as C$3.21 and last traded at C$3.20, with a volume of 587744 shares trading hands. The stock had previously closed at C$3.11.

DIV has been the topic of a number of other reports. Desjardins set a C$3.75 price objective on Diversified Royalty and gave the company a “buy” rating in a research report on Wednesday, February 26th. CIBC upped their price objective on Diversified Royalty from C$3.10 to C$3.20 and gave the company a “neutral” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$3.64.

Diversified Royalty Stock Performance

The company has a debt-to-equity ratio of 90.70, a current ratio of 4.28 and a quick ratio of 1.74. The firm has a fifty day moving average price of C$2.91 and a two-hundred day moving average price of C$2.86. The stock has a market capitalization of C$484.63 million, a PE ratio of 16.55 and a beta of 1.57.

Diversified Royalty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 30th will be issued a $0.0208 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.25 annualized dividend and a dividend yield of 7.87%. Diversified Royalty’s payout ratio is 130.49%.

About Diversified Royalty

Diversified Royalty Corp is a multi-royalty company. It is engaged in the business of acquiring royalties from multi-location businesses and franchisors in North America. As a part of the investment strategy, the firm always purchases trademarks of the companies it is going to acquire. The company gives its partners the benefit of full operational control of their business, participation in the growth of their company, and tax deductibility on royal payments.