Diversified Royalty (TSE:DIV) Share Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Diversified Royalty Corp. (TSE:DIV)’s stock price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$3.55 and traded as high as C$3.64. Diversified Royalty shares last traded at C$3.57, with a volume of 406,366 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. CIBC lifted their price target on Diversified Royalty from C$3.10 to C$3.20 and gave the stock a “neutral” rating in a research note on Thursday, June 19th. Desjardins lifted their price target on Diversified Royalty from C$3.75 to C$4.00 in a research note on Thursday, August 7th. Finally, Raymond James Financial lifted their price target on Diversified Royalty from C$3.40 to C$3.60 and gave the stock an “outperform” rating in a research note on Thursday, June 19th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$3.60.

Diversified Royalty Trading Down 1.7%

The stock has a market cap of C$605.71 million, a PE ratio of 22.31 and a beta of 0.93. The business has a 50-day moving average of C$3.55 and a 200 day moving average of C$3.19. 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 Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 31st will be given a dividend of $0.0229 per share. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Wednesday, October 15th. Diversified Royalty’s dividend payout ratio (DPR) is currently 157.53%.

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.