Diversified Royalty (TSE:DIV) Hits New 12-Month High – Still a Buy?

Diversified Royalty Corp. (TSE:DIV)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$3.82 and last traded at C$3.79, with a volume of 846876 shares. The stock had previously closed at C$3.53.

Analyst Upgrades and Downgrades

Separately, Desjardins upped their price objective on shares of Diversified Royalty from C$3.75 to C$4.00 in a report on Thursday, August 7th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$3.60.

Diversified Royalty Price Performance

The company has a market capitalization of C$641.34 million, a P/E ratio of 23.63 and a beta of 0.92. The business’s 50-day moving average is C$3.59 and its two-hundred day moving average is C$3.31. The company has a quick ratio of 1.74, a current ratio of 4.28 and a debt-to-equity ratio of 90.70.

Diversified Royalty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 28th will be issued a dividend of $0.0229 per share. This represents a c) dividend on an annualized basis and a yield of 7.3%. The ex-dividend date is Friday, November 14th. Diversified Royalty’s dividend payout ratio (DPR) is 157.53%.

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.