Diversified Royalty (TSE:DIV) Sets New 1-Year High After Analyst Upgrade

Diversified Royalty Corp. (TSE:DIV) shares hit a new 52-week high during mid-day trading on Tuesday after Raymond James Financial raised their price target on the stock from C$4.25 to C$4.70. Raymond James Financial currently has an outperform rating on the stock. Diversified Royalty traded as high as C$4.47 and last traded at C$4.46, with a volume of 798818 shares changing hands. The stock had previously closed at C$4.31.

Several other research firms also recently weighed in on DIV. Canaccord Genuity Group lifted their target price on Diversified Royalty from C$4.75 to C$5.50 and gave the company a “buy” rating in a research report on Wednesday. Desjardins boosted their price objective on Diversified Royalty from C$4.50 to C$4.75 and gave the stock a “buy” rating in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$4.74.

Diversified Royalty Price Performance

The stock has a fifty day moving average of C$4.22 and a 200-day moving average of C$3.97. The company has a quick ratio of 1.74, a current ratio of 2.84 and a debt-to-equity ratio of 103.05. The stock has a market capitalization of C$818.66 million, a price-to-earnings ratio of 23.90 and a beta of 1.07.

Diversified Royalty (TSE:DIV) last announced its quarterly earnings results on Thursday, May 14th. The company reported C$0.04 earnings per share (EPS) for the quarter. The firm had revenue of C$18.80 million during the quarter. Diversified Royalty had a return on equity of 12.54% and a net margin of 49.91%. On average, equities research analysts predict that Diversified Royalty Corp. will post 0.2 EPS for the current fiscal year.

Diversified Royalty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 29th will be issued a $0.0238 dividend. This represents a c) dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Friday, May 15th. Diversified Royalty’s dividend payout ratio is 137.51%.

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.