Diversified Royalty (TSE:DIV) Shares Cross Above 50 Day Moving Average – Here’s Why

Diversified Royalty Corp. (TSE:DIV)’s share price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$3.57 and traded as high as C$3.72. Diversified Royalty shares last traded at C$3.72, with a volume of 195,348 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. CIBC boosted their price objective on shares of Diversified Royalty from C$3.50 to C$4.00 in a research report on Friday, November 14th. Desjardins raised their target price on Diversified Royalty from C$3.75 to C$4.00 in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$3.87.

Diversified Royalty Stock Up 1.6%

The company’s fifty day simple moving average is C$3.57 and its 200 day simple moving average is C$3.38. The company has a current ratio of 4.28, a quick ratio of 1.74 and a debt-to-equity ratio of 90.70. The firm has a market capitalization of C$633.42 million, a P/E ratio of 21.88 and a beta of 0.92.

Diversified Royalty (TSE:DIV) last announced its quarterly earnings results on Thursday, November 13th. The company reported C$0.05 earnings per share (EPS) for the quarter. Diversified Royalty had a net margin of 49.25% and a return on equity of 11.46%. The company had revenue of C$19.59 million for the quarter. Research analysts expect that Diversified Royalty Corp. will post 0.2 EPS for the current year.

Diversified Royalty Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 28th were given a $0.0229 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a c) annualized dividend and a dividend yield of 7.4%. Diversified Royalty’s dividend payout ratio is currently 151.95%.

Diversified Royalty Company Profile

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.