Freehold Royalties (TSE:FRU) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Freehold Royalties Ltd. (TSE:FRU)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$16.89 and traded as high as C$17.24. Freehold Royalties shares last traded at C$17.15, with a volume of 582,209 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FRU. Royal Bank Of Canada upped their price target on Freehold Royalties from C$17.00 to C$18.00 and gave the company a “sector perform” rating in a report on Monday, April 13th. Raymond James Financial lowered Freehold Royalties from a “moderate buy” rating to a “hold” rating and boosted their target price for the stock from C$17.50 to C$18.00 in a research report on Monday, March 30th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$17.03.

Freehold Royalties Stock Down 1.1%

The company has a market cap of C$2.78 billion, a P/E ratio of 31.41, a price-to-earnings-growth ratio of -0.92 and a beta of 0.59. The company has a quick ratio of 1.50, a current ratio of 1.73 and a debt-to-equity ratio of 30.45. The company has a fifty day moving average of C$16.81 and a 200 day moving average of C$16.89.

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

Freehold Royalties Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a yield of 6.4%. Freehold Royalties’s dividend payout ratio is 200.00%.

Insider Buying and Selling

In other Freehold Royalties news, insider Bradley Robert Monaco acquired 6,060 shares of Freehold Royalties stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average price of C$16.56 per share, with a total value of C$100,353.60. Following the completion of the purchase, the insider directly owned 6,060 shares of the company’s stock, valued at approximately C$100,353.60. This represents a ∞ increase in their position. Company insiders own 0.45% of the company’s stock.

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.