Diversified Royalty (TSE:DIV) Sets New 1-Year High – Here’s What Happened

Diversified Royalty Corp. (TSE:DIV) hit a new 52-week high during trading on Wednesday . The company traded as high as C$4.32 and last traded at C$4.31, with a volume of 154854 shares changing hands. The stock had previously closed at C$4.23.

Analyst Upgrades and Downgrades

Separately, Desjardins upped their target price on Diversified Royalty from C$4.00 to C$4.50 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$4.03.

Diversified Royalty Trading Up 1.7%

The company has a current ratio of 0.68, a quick ratio of 1.74 and a debt-to-equity ratio of 88.76. The company has a 50-day simple moving average of C$4.09 and a 200 day simple moving average of C$3.82. The firm has a market cap of C$735.34 million, a PE ratio of 20.48 and a beta of 1.00.

Diversified Royalty (TSE:DIV) last released its quarterly earnings data on Friday, March 20th. The company reported C$0.06 EPS for the quarter. Diversified Royalty had a return on equity of 12.71% and a net margin of 51.82%.The business had revenue of C$20.41 million for the quarter. As a group, sell-side analysts forecast that Diversified Royalty Corp. will post 0.2 earnings per share for the current fiscal year.

Diversified Royalty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 30th will be given a $0.0238 dividend. This represents a c) annualized dividend and a yield of 6.6%. The ex-dividend date is Wednesday, April 15th. Diversified Royalty’s dividend payout ratio is currently 126.79%.

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.