Diversified Royalty Corp. (TSE:DIV – Get Free Report) reached a new 52-week high during mid-day 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.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the company. Raymond James Financial raised their target price on Diversified Royalty from C$4.25 to C$4.70 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. ATB Cormark Capital Markets raised their target price on Diversified Royalty from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a research note on Thursday. Canaccord Genuity Group lifted their price objective 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, Desjardins lifted their price objective 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. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$4.89.
Read Our Latest Analysis on Diversified Royalty
Diversified Royalty Stock Performance
Diversified Royalty (TSE:DIV – Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported C$0.04 earnings per share for the quarter. The business 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%. As a group, equities analysts forecast that Diversified Royalty Corp. will post 0.2 EPS for the current year.
Diversified Royalty Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 29th will be given a $0.0238 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Friday, May 15th. 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.
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