Freehold Royalties (TSE:FRU) Shares Pass Below 200 Day Moving Average – Here’s What Happened

Freehold Royalties Ltd. (TSE:FRU) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$16.77 and traded as low as C$15.80. Freehold Royalties shares last traded at C$15.96, with a volume of 1,103,986 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Raymond James Financial cut shares of Freehold Royalties from a “moderate buy” rating to a “hold” rating and raised their target price for the stock from C$17.50 to C$18.00 in a research report on Monday, March 30th. Desjardins reduced their price target on shares of Freehold Royalties from C$16.50 to C$16.00 and set a “hold” rating on the stock in a research report on Friday, March 13th. TD Securities decreased their price target on shares of Freehold Royalties from C$22.00 to C$21.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Finally, Royal Bank Of Canada raised their price objective on shares of Freehold Royalties from C$17.00 to C$18.00 and gave the stock a “sector perform” rating in a report on Monday, April 13th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$17.03.

Freehold Royalties Stock Down 0.7%

The company has a market capitalization of C$2.67 billion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of -0.92 and a beta of 0.59. The company has a 50-day moving average of C$17.03 and a two-hundred day moving average of C$16.79. The company has a quick ratio of 1.50, a current ratio of 1.73 and a debt-to-equity ratio of 30.45.

Freehold Royalties (TSE:FRU) last posted its quarterly earnings data on Tuesday, May 12th. The company reported C$0.21 earnings per share (EPS) for the quarter. The business had revenue of C$77.82 million during the quarter. Freehold Royalties had a return on equity of 8.81% and a net margin of 29.84%. On average, research analysts predict that Freehold Royalties Ltd. will post 0.7581169 EPS for the current year.

Freehold Royalties Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th will be given a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 6.6%. Freehold Royalties’s dividend payout ratio is currently 200.00%.

Insider Activity

In other Freehold Royalties news, insider Bradley Robert Monaco purchased 6,060 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average cost of C$16.56 per share, with a total value of C$100,353.60. Following the transaction, the insider directly owned 6,060 shares in the company, valued at approximately C$100,353.60. The trade was a ∞ increase in their position. 0.45% of the stock is currently owned by insiders.

About Freehold Royalties

Freehold Royalties Ltd is in acquiring and managing Oil and Gas royalties. It operates in two segments: Canada, which includes exploration and evaluation assets and the petroleum and natural gas interests in Western Canada; and the United States, which includes petroleum and natural gas interests held in the Permian (Midland and Delaware), Eagle Ford, Haynesville and Bakken basins primarily located in the states of Texas, Louisiana, and North Dakota. The majority of its revenue is generated from Canada Segment.