Diversified Royalty Corp. (TSE:DIV – Get Free Report) shares crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of C$4.08 and traded as high as C$4.12. Diversified Royalty shares last traded at C$4.10, with a volume of 667,429 shares trading hands.
Analyst Upgrades and Downgrades
A number of analysts have commented on DIV shares. Raymond James Financial boosted their price target on shares of Diversified Royalty from C$4.70 to C$5.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. ATB Cormark Capital Markets decreased their price objective on shares of Diversified Royalty from C$7.25 to C$7.00 and set an “outperform” rating for the company in a report on Friday, August 14th. Finally, Desjardins decreased their price objective on shares of Diversified Royalty from C$5.00 to C$4.75 and set a “buy” rating for the company in a report on Friday, August 14th. Four analysts have rated the stock with a Buy rating. According to MarketBeat.com, Diversified Royalty has a consensus rating of “Buy” and an average target price of C$5.25.
Read Our Latest Analysis on Diversified Royalty
Diversified Royalty Stock Up 1.7%
The company has a debt-to-equity ratio of 212.48, a current ratio of 0.49 and a quick ratio of 1.74. The stock has a market capitalization of C$773.90 million, a P/E ratio of 24.12 and a beta of 0.95. The stock’s fifty day moving average is C$4.08 and its two-hundred day moving average is C$4.28.
Diversified Royalty (TSE:DIV – Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported C$0.02 EPS for the quarter. Diversified Royalty had a return on equity of 10.39% and a net margin of 39.72%. The business had revenue of C$19.48 million during the quarter. As a group, research analysts predict that Diversified Royalty Corp. will post 0.20 earnings per share for the current fiscal year.
Diversified Royalty Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 30th will be paid a $0.0238 dividend. This represents a $0.29 annualized dividend and a yield of 7.0%. The ex-dividend date is Thursday, October 15th. Diversified Royalty’s dividend payout ratio is currently 165.69%.
Insiders Place Their Bets
In other news, Director Johnny Ciampi purchased 100,000 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was bought at an average cost of C$3.99 per share, with a total value of C$399,000.00. Following the purchase, the director directly owned 112,767 shares of the company’s stock, valued at approximately C$449,940.33. This trade represents a 783.27% increase in their ownership of the stock. Also, insider Sean Morrison bought 12,626 shares of Diversified Royalty stock in a transaction on Friday, August 14th. The stock was acquired at an average price of C$4.02 per share, with a total value of C$50,756.52. Following the completion of the purchase, the insider directly owned 771,648 shares of the company’s stock, valued at approximately C$3,102,024.96. The trade was a 1.66% increase in their ownership of the stock. Corporate insiders own 0.52% of the company’s stock.
About Diversified Royalty
DIV is a multi-royalty corporation, engaged in the business of acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America. DIV’s objective is to acquire predictable, growing royalty streams from a diverse group of multi-location businesses and franchisors. DIV, through its subsidiary, Mr. Lube Canada Ltd., also operates the Mr. Lube + Tires franchisor business in Canada. Mr. Lube + Tires is the leading Canadian automotive service chain specializing in fast, drive-in drive-through, no-appointment-needed vehicle maintenance.
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