Diversified Royalty (TSE:DIV) Insider Sean Morrison Buys 12,626 Shares of Stock

Diversified Royalty Corp. (TSE:DIV) insider Sean Morrison purchased 12,626 shares of the business’s stock in a transaction on Friday, August 14th. The shares were bought at an average cost of C$4.02 per share, with a total value of C$50,756.52. Following the acquisition, the insider directly owned 771,648 shares of the company’s stock, valued at C$3,102,024.96. This trade represents a 1.66% increase in their position.

Diversified Royalty Price Performance

TSE DIV opened at C$4.07 on Thursday. The stock has a market cap of C$761.29 million, a price-to-earnings ratio of 23.94 and a beta of 1.11. Diversified Royalty Corp. has a 12 month low of C$3.37 and a 12 month high of C$4.98. The company’s 50 day moving average is C$4.60 and its two-hundred day moving average is C$4.39. The company has a current ratio of 0.49, a quick ratio of 1.74 and a debt-to-equity ratio of 212.48.

Diversified Royalty (TSE:DIV) last issued its earnings results on Wednesday, August 12th. The company reported C$0.02 earnings per share for the quarter. Diversified Royalty had a net margin of 39.72% and a return on equity of 10.39%. The company had revenue of C$19.48 million during the quarter. As a group, research analysts anticipate that Diversified Royalty Corp. will post 0.2 earnings per share for the current year.

Diversified Royalty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 31st will be issued a $0.0238 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 7.0%. Diversified Royalty’s payout ratio is currently 165.69%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DIV. Raymond James Financial lifted their price objective on shares of Diversified Royalty from C$4.70 to C$5.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Canaccord Genuity Group raised their target price on shares of Diversified Royalty from C$4.75 to C$5.50 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Desjardins reduced their price target on shares of Diversified Royalty from C$5.00 to C$4.75 and set a “buy” rating on the stock in a report on Friday, August 14th. Finally, ATB Cormark Capital Markets decreased their price target on shares of Diversified Royalty from C$7.25 to C$7.00 and set an “outperform” rating on the stock in a research note on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$5.25.

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.