Diversified Royalty (TSE:DIV) Reaches New 52-Week High – Here’s Why

Diversified Royalty Corp. (TSE:DIV)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$3.82 and last traded at C$3.79, with a volume of 846876 shares trading hands. The stock had previously closed at C$3.53.

Analysts Set New Price Targets

Separately, Desjardins boosted their target price on Diversified Royalty from C$3.75 to C$4.00 in a research report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$3.60.

Diversified Royalty Price Performance

The firm has a 50-day moving average price of C$3.59 and a 200 day moving average price of C$3.31. The stock has a market capitalization of C$641.34 million, a P/E ratio of 23.63 and a beta of 0.92. 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 firm also recently disclosed a monthly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 28th will be paid a $0.0229 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a c) dividend on an annualized basis and a dividend yield of 7.3%. Diversified Royalty’s dividend payout ratio is 157.53%.

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.