Diversified Royalty (TSE:DIV) Hits New 12-Month High – Here’s Why

Diversified Royalty Corp. (TSE:DIV) reached a new 52-week high on Tuesday . The stock traded as high as C$4.98 and last traded at C$4.89, with a volume of 297856 shares changing hands. The stock had previously closed at C$4.92.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on DIV shares. Desjardins increased their price target on Diversified Royalty from C$4.50 to C$4.75 and gave the company a “buy” rating in a report on Tuesday, May 19th. Raymond James Financial boosted their price objective on shares of Diversified Royalty from C$4.25 to C$4.70 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. ATB Cormark Capital Markets increased their target price on shares of Diversified Royalty from C$5.00 to C$5.50 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Finally, Canaccord Genuity Group raised their target price on shares of 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 equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$4.89.

Diversified Royalty Stock Down 0.6%

The firm has a market cap of C$854.33 million, a PE ratio of 24.45 and a beta of 1.06. The company has a 50-day simple moving average of C$4.54 and a 200-day simple moving average of C$4.17. 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 (TSE:DIV) last issued its quarterly earnings results on Thursday, May 14th. The company reported C$0.04 earnings per share for the quarter. Diversified Royalty had a return on equity of 12.54% and a net margin of 49.91%.The firm had revenue of C$18.80 million for the quarter. Analysts expect that Diversified Royalty Corp. will post 0.2 earnings per share for the current fiscal year.

Diversified Royalty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be given a $0.0238 dividend. This represents a c) annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Monday, June 15th. Diversified Royalty’s dividend payout ratio is 137.50%.

Insiders Place Their Bets

In other news, Director Johnny Ciampi sold 147,004 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of C$4.77, for a total transaction of C$701,209.08. Following the completion of the sale, the director directly owned 12,767 shares of the company’s stock, valued at approximately C$60,898.59. The trade was a 92.01% decrease in their ownership of the stock. Also, insider Greg Gutmanis sold 30,000 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of C$4.85, for a total transaction of C$145,500.00. Following the completion of the transaction, the insider owned 204,185 shares in the company, valued at approximately C$990,297.25. The trade was a 12.81% decrease in their ownership of the stock. In the last quarter, insiders sold 330,000 shares of company stock worth $1,576,500. Insiders own 0.52% of the company’s stock.

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.