Diversified Royalty (TSE:DIV) Shares Pass Below 50 Day Moving Average – What’s Next?

Diversified Royalty Corp. (TSE:DIV)’s stock price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$4.03 and traded as low as C$4.02. Diversified Royalty shares last traded at C$4.04, with a volume of 373,346 shares trading hands.

Analysts Set New Price Targets

Separately, Desjardins increased their target price on Diversified Royalty from C$4.00 to C$4.50 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Two equities 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$4.03.

Diversified Royalty Stock Down 1.5%

The firm has a market capitalization of C$689.81 million, a P/E ratio of 23.76 and a beta of 1.11. The company has a debt-to-equity ratio of 101.11, a quick ratio of 1.74 and a current ratio of 0.79. The firm’s 50-day moving average is C$4.03 and its 200 day moving average is C$3.77.

Diversified Royalty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st will be issued a $0.0238 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date is Friday, March 13th. Diversified Royalty’s payout ratio is 151.95%.

Diversified Royalty Company Profile

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.