Diversified Royalty (TSE:DIV) Given New C$4.50 Price Target at Desjardins

Diversified Royalty (TSE:DIV) had its target price upped by Desjardins from C$4.00 to C$4.50 in a report published on Tuesday,BayStreet.CA reports. They currently have a buy rating on the stock.

Separately, Canadian Imperial Bank of Commerce 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. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$4.03.

Diversified Royalty Price Performance

Shares of TSE DIV opened at C$4.03 on Tuesday. The company has a market cap of C$688.10 million, a P/E ratio of 23.71 and a beta of 0.99. The firm has a 50-day simple moving average of C$3.83 and a two-hundred day simple moving average of C$3.64. Diversified Royalty has a 1 year low of C$2.57 and a 1 year high of C$4.09. The company has a debt-to-equity ratio of 90.70, a current ratio of 4.28 and a quick ratio of 1.74.

Diversified Royalty (TSE:DIV) last issued 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 return on equity of 11.46% and a net margin of 49.25%.The firm had revenue of C$19.59 million during the quarter. Research analysts anticipate that Diversified Royalty will post 0.2 earnings per share for the current year.

Diversified Royalty Increases Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were issued a $0.0238 dividend. This is a boost from Diversified Royalty’s previous monthly dividend of $0.02. This represents a c) dividend on an annualized basis and a yield of 7.1%. The ex-dividend date was Monday, December 15th. Diversified Royalty’s dividend payout ratio is presently 151.95%.

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. All of the company’s operating revenues are earned from the receipt of royalties and management fees from its Royalty Partners.