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

Shares of Diversified Royalty Corp. (TSE:DIV) hit a new 52-week high on Tuesday . The stock traded as high as C$4.47 and last traded at C$4.46, with a volume of 798818 shares traded. The stock had previously closed at C$4.31.

Wall Street Analysts Forecast Growth

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 investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$4.03.

Diversified Royalty Stock Up 7.0%

The company has a 50-day moving average of C$4.20 and a 200-day moving average of C$3.95. The company has a market capitalization of C$788.35 million, a price-to-earnings ratio of 21.95 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 (TSE:DIV) last announced its earnings results on Thursday, May 14th. The company reported C$0.04 earnings per share (EPS) for the quarter. Diversified Royalty had a return on equity of 12.54% and a net margin of 49.91%.The company had revenue of C$18.80 million for the quarter. On average, equities analysts predict that Diversified Royalty Corp. will post 0.2 earnings per share for the current fiscal year.

Diversified Royalty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 29th will be given a dividend of $0.0238 per share. This represents a c) annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend is Friday, May 15th. Diversified Royalty’s dividend payout ratio is currently 126.79%.

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.