Diversified Royalty (TSE:DIV) Hits New 1-Year High – Here’s What Happened

Diversified Royalty Corp. (TSE:DIV)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$4.93 and last traded at C$4.92, with a volume of 275232 shares traded. The stock had previously closed at C$4.71.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Canaccord Genuity Group upped their target price on Diversified Royalty from C$4.75 to C$5.50 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. ATB Cormark Capital Markets upped their target price on Diversified Royalty from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Desjardins upped their target price on Diversified Royalty from C$4.50 to C$4.75 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Finally, Raymond James Financial upped their target price on Diversified Royalty from C$4.25 to C$4.70 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Four investment 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$4.89.

Diversified Royalty Stock Performance

The stock has a market capitalization of C$840.93 million, a P/E ratio of 24.55 and a beta of 1.06. The firm has a 50-day moving average of C$4.49 and a 200 day moving average of C$4.13. 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 issued its earnings results on Thursday, May 14th. The company reported C$0.04 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%. Research analysts anticipate that Diversified Royalty Corp. will post 0.2 EPS for the current fiscal year.

Diversified Royalty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.0238 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. Diversified Royalty’s dividend payout ratio (DPR) is presently 137.51%.

Insider Transactions at Diversified Royalty

In related news, Director Johnny Ciampi sold 152,996 shares of Diversified Royalty stock in a transaction dated Monday, June 8th. The stock was sold at an average price of C$4.77, for a total value of C$729,790.92. Following the completion of the transaction, the director directly owned 839,469 shares of the company’s stock, valued at C$4,004,267.13. The trade was a 15.42% decrease in their ownership of the stock. Also, insider Greg Gutmanis sold 30,000 shares of Diversified Royalty stock in a transaction dated Friday, May 29th. The shares were sold at an average price of C$4.85, for a total value of C$145,500.00. Following the completion of the transaction, the insider directly owned 204,185 shares of the company’s stock, valued at C$990,297.25. This represents a 12.81% decrease in their ownership of the stock. Insiders sold 330,000 shares of company stock valued at $1,576,500 over the last ninety days. 0.52% of the stock is currently owned by company insiders.

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.