Freehold Royalties (TSE:FRU) had its price objective decreased by Royal Bank of Canada from C$12.00 to C$11.00 in a report issued on Thursday, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.
Several other equities analysts have also weighed in on FRU. Eight Capital raised their price objective on shares of Freehold Royalties from C$11.50 to C$11.65 in a research report on Friday, August 2nd. CIBC cut their price objective on shares of Freehold Royalties from C$9.50 to C$9.00 in a research report on Tuesday, October 15th. TD Securities raised their price objective on shares of Freehold Royalties from C$14.00 to C$14.50 and gave the company a buy rating in a research report on Friday, August 2nd. Raymond James reaffirmed a market perform rating and set a C$9.00 price objective on shares of Freehold Royalties in a research report on Friday, August 2nd. Finally, National Bank Financial cut their price objective on shares of Freehold Royalties from C$10.50 to C$9.50 and set a sector perform rating on the stock in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Freehold Royalties has an average rating of Hold and a consensus target price of C$10.64.
FRU traded down C$0.01 during midday trading on Thursday, hitting C$6.83. 454,700 shares of the company’s stock traded hands, compared to its average volume of 317,170. The company has a market cap of $794.04 million and a PE ratio of 1,366.00. The stock’s fifty day simple moving average is C$6.90 and its 200-day simple moving average is C$7.80. The company has a debt-to-equity ratio of 15.10, a current ratio of 2.08 and a quick ratio of 2.08. Freehold Royalties has a one year low of C$6.34 and a one year high of C$9.88.
The firm also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were given a dividend of $0.0525 per share. This represents a $0.63 annualized dividend and a yield of 9.22%. The ex-dividend date of this dividend was Wednesday, October 30th. Freehold Royalties’s payout ratio is presently 12,600.00%.
Freehold Royalties Company Profile
Freehold Royalties Ltd., an oil and gas royalty company, owns working interests in oil, natural gas, and potash properties in Western Canada. It holds approximately 6.2 million gross acres of land from northeastern British Columbia to southern Ontario. It has interests in approximately 43,000 wells and receives royalty from 300 industry operators.
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