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

Diversified Royalty Corp. (TSE:DIV)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as C$4.92 and last traded at C$4.92, with a volume of 255137 shares. The stock had previously closed at C$4.84.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DIV. Desjardins raised their price target on Diversified Royalty from C$4.50 to C$4.75 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Raymond James Financial raised their price target on 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. Canaccord Genuity Group raised their price target on Diversified Royalty from C$4.75 to C$5.50 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Finally, ATB Cormark Capital Markets raised their price target on Diversified Royalty from C$5.00 to C$5.50 and gave the company an “outperform” rating in a research report on Thursday. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Diversified Royalty presently has a consensus rating of “Moderate Buy” and an average price target of C$4.89.

Diversified Royalty Stock Performance

The stock has a market cap of C$839.21 million, a PE ratio of 24.50 and a beta of 1.07. The company has a fifty day moving average price of C$4.25 and a 200 day moving average price of C$3.99. The company has a quick ratio of 1.74, a current ratio of 2.84 and a debt-to-equity ratio of 103.05.

Diversified Royalty (TSE:DIV) last released its quarterly earnings data on Thursday, May 14th. The company reported C$0.04 EPS for the quarter. The firm had revenue of C$18.80 million for the quarter. Diversified Royalty had a return on equity of 12.54% and a net margin of 49.91%. Analysts expect that Diversified Royalty Corp. will post 0.2 earnings per share for the current year.

Diversified Royalty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 29th will be issued a $0.0238 dividend. The ex-dividend date is Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 5.8%. Diversified Royalty’s payout ratio is currently 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.