Diversified Royalty (TSE:DIV) Hits New 52-Week High – Time to Buy?

Diversified Royalty Corp. (TSE:DIV)’s stock price hit a new 52-week high on Monday . The stock traded as high as C$3.94 and last traded at C$3.91, with a volume of 29834 shares traded. The stock had previously closed at C$3.90.

Wall Street Analyst Weigh In

Separately, CIBC upped their price objective on shares of Diversified Royalty from C$3.50 to C$4.00 in a report on Friday, November 14th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$3.87.

Diversified Royalty Stock Performance

The company has a market capitalization of C$667.47 million, a PE ratio of 23.06 and a beta of 1.03. The firm has a 50-day moving average of C$3.68 and a two-hundred day moving average of C$3.53. The company has a quick ratio of 1.74, a current ratio of 4.28 and a debt-to-equity ratio of 90.70.

Diversified Royalty (TSE:DIV) last issued its quarterly earnings data on Thursday, November 13th. The company reported C$0.05 EPS for the quarter. Diversified Royalty had a net margin of 49.25% and a return on equity of 11.46%. The business had revenue of C$19.59 million for the quarter. Research analysts anticipate that Diversified Royalty Corp. will post 0.2 EPS for the current year.

Diversified Royalty Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were given a $0.0238 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.3%. This is an increase from Diversified Royalty’s previous monthly dividend of $0.02. The ex-dividend date was Monday, December 15th. Diversified Royalty’s payout ratio is currently 151.95%.

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. All of the company’s operating revenues are earned from the receipt of royalties and management fees from its Royalty Partners.