Diversified Royalty (TSE:DIV) Issues Earnings Results

Diversified Royalty (TSE:DIV) released its quarterly earnings data on Thursday. The company reported C$0.05 EPS for the quarter, FiscalAI reports. The business had revenue of C$15.67 million for the quarter. Diversified Royalty had a net margin of 49.25% and a return on equity of 11.46%.

Diversified Royalty Trading Down 3.5%

Shares of DIV stock opened at C$3.60 on Friday. The company has a market capitalization of C$610.80 million, a PE ratio of 22.50 and a beta of 0.92. Diversified Royalty has a 52-week low of C$2.50 and a 52-week high of C$3.82. The business’s fifty day moving average is C$3.59 and its 200 day moving average is C$3.32. The company has a debt-to-equity ratio of 90.70, a quick ratio of 1.74 and a current ratio of 4.28.

Diversified Royalty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 28th will be issued a $0.0229 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a c) annualized dividend and a dividend yield of 7.6%. Diversified Royalty’s dividend payout ratio is presently 157.53%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. CIBC upped their price target on shares of Diversified Royalty from C$3.50 to C$4.00 in a research note on Friday. Desjardins increased their target price on Diversified Royalty from C$3.75 to C$4.00 in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$3.87.

About Diversified Royalty

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.