Diversified Royalty (TSE:DIV) Posts Quarterly Earnings Results

Diversified Royalty (TSE:DIV) announced its quarterly earnings data on Wednesday. The company reported C$0.02 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$19.48 million during the quarter. Diversified Royalty had a net margin of 49.91% and a return on equity of 12.54%.

Diversified Royalty Stock Up 1.1%

Diversified Royalty stock traded up C$0.05 during midday trading on Wednesday, hitting C$4.62. 226,361 shares of the company were exchanged, compared to its average volume of 414,415. The company’s fifty day moving average price is C$4.66 and its 200-day moving average price is C$4.38. The company has a market cap of C$864.16 million, a PE ratio of 23.10 and a beta of 1.11. The company has a debt-to-equity ratio of 103.05, a current ratio of 2.84 and a quick ratio of 1.74. Diversified Royalty has a fifty-two week low of C$3.37 and a fifty-two week high of C$4.98.

Diversified Royalty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 31st will be issued a dividend of $0.0238 per share. This represents a c) annualized dividend and a dividend yield of 6.2%. The ex-dividend date is Friday, August 14th. Diversified Royalty’s dividend payout ratio (DPR) is presently 137.50%.

Wall Street Analyst Weigh In

DIV has been the topic of a number of research analyst reports. Desjardins lifted their target price on Diversified Royalty from C$4.75 to C$5.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Raymond James Financial upped their price target on Diversified Royalty from C$4.70 to C$5.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. ATB Cormark Capital Markets cut their price objective on Diversified Royalty from C$7.50 to C$7.25 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Finally, Canaccord Genuity Group boosted their target price on Diversified Royalty from C$4.75 to C$5.50 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$5.35.

Insider Buying and Selling

In other news, insider Greg Gutmanis sold 30,000 shares of Diversified Royalty stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of C$4.85, for a total transaction of C$145,500.00. Following the sale, the insider owned 204,185 shares in the company, valued at C$990,297.25. This trade represents a 12.81% decrease in their ownership of the stock. Also, Director Johnny Ciampi sold 152,996 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of C$4.77, for a total transaction of C$729,790.92. Following the transaction, the director directly owned 839,469 shares in the company, valued at approximately C$4,004,267.13. The trade was a 15.42% decrease in their ownership of the stock. In the last 90 days, insiders sold 330,000 shares of company stock valued at $1,576,500. 0.52% of the stock is owned by company insiders.

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.