Diversified Royalty (TSE:DIV) Sets New 12-Month High at $2.99

Diversified Royalty Corp. (TSE:DIV)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as C$2.99 and last traded at C$2.98, with a volume of 406093 shares changing hands. The stock had previously closed at C$2.90.

A number of research analysts recently commented on the stock. Pi Financial increased their price target on shares of Diversified Royalty from C$4.00 to C$4.40 and gave the company a “buy” rating in a report on Tuesday, August 3rd. Cormark lifted their price target on shares of Diversified Royalty from C$3.40 to C$3.75 and gave the company a “na” rating in a research note on Monday, August 16th. Finally, CIBC lifted their price target on shares of Diversified Royalty to C$3.25 and gave the company an “outperform” rating in a research note on Monday, August 16th.

The company’s 50 day moving average price is C$2.82 and its two-hundred day moving average price is C$2.64. The company has a quick ratio of 2.21, a current ratio of 2.29 and a debt-to-equity ratio of 90.47. The stock has a market cap of C$354.93 million and a P/E ratio of 37.92.

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 29th. Stockholders of record on Wednesday, September 29th will be paid a dividend of $0.0175 per share. This represents a $0.21 annualized dividend and a dividend yield of 7.19%. The ex-dividend date of this dividend is Tuesday, September 14th. Diversified Royalty’s dividend payout ratio is presently 259.79%.

About Diversified Royalty (TSE:DIV)

Diversified Royalty Corp., a multi-royalty corporation, engages in the acquisition of royalties from multi-location businesses and franchisors in North America. It owns the Mr. Lube, AIR MILES, Sutton, Mr. Mikes, Nurse Next Door, and Oxford Learning Centres trademarks. The company was formerly known as BENEV Capital Inc and changed its name to Diversified Royalty Corp.

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