Diversified Royalty (TSE:DIV) Insider Greg Gutmanis Sells 30,000 Shares

Diversified Royalty Corp. (TSE:DIV) insider Greg Gutmanis sold 30,000 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of C$4.85, for a total transaction of C$145,500.00. Following the transaction, the insider owned 204,185 shares in the company, valued at approximately C$990,297.25. This trade represents a 12.81% decrease in their position.

Diversified Royalty Price Performance

TSE DIV traded down C$0.11 on Monday, hitting C$4.79. 269,757 shares of the company were exchanged, compared to its average volume of 381,761. The firm has a 50 day moving average of C$4.34 and a two-hundred day moving average of C$4.04. The company has a market cap of C$820.37 million, a P/E ratio of 23.95 and a beta of 1.07. The company has a current ratio of 2.84, a quick ratio of 1.74 and a debt-to-equity ratio of 103.05. Diversified Royalty Corp. has a 1-year low of C$2.87 and a 1-year high of C$4.93.

Diversified Royalty (TSE:DIV) last issued its quarterly earnings results on Thursday, May 14th. The company reported C$0.04 earnings per share (EPS) for the quarter. The business had revenue of C$18.80 million for the quarter. Diversified Royalty had a net margin of 49.91% and a return on equity of 12.54%. On average, equities analysts predict that Diversified Royalty Corp. will post 0.2 EPS for the current year.

Diversified Royalty Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 29th were issued a dividend of $0.0238 per share. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend was Friday, May 15th. Diversified Royalty’s payout ratio is currently 137.51%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DIV. Canaccord Genuity Group boosted their price objective on Diversified Royalty from C$4.75 to C$5.50 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Desjardins boosted their price objective on Diversified Royalty from C$4.50 to C$4.75 and gave the stock a “buy” rating in a report on Tuesday, May 19th. ATB Cormark Capital Markets boosted their price objective on Diversified Royalty from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Finally, Raymond James Financial boosted their price objective on Diversified Royalty from C$4.25 to C$4.70 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$4.89.

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.