CIBC Reiterates “Outperform” Rating for Diversified Royalty Corp (DIV)
Diversified Royalty Corp (TSE:DIV)‘s stock had its “outperform” rating restated by CIBC in a note issued to investors on Monday. They currently have a C$3.00 price objective on the stock. CIBC’s price target suggests a potential upside of 22.95% from the company’s current price.
DIV has been the topic of a number of other reports. Paradigm Capital cut their price target on shares of Diversified Royalty Corp from C$4.00 to C$3.50 and set a “buy” rating on the stock in a research note on Wednesday, August 17th. Beacon Securities reiterated a “buy” rating on shares of Diversified Royalty Corp in a research note on Thursday, November 17th.
Diversified Royalty Corp (TSE:DIV) opened at 2.44 on Monday. Diversified Royalty Corp has a 12 month low of $1.96 and a 12 month high of $2.60. The company has a 50 day moving average of $2.48 and a 200 day moving average of $2.34. The stock has a market capitalization of $279.02 million and a price-to-earnings ratio of 39.35.
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 30th will be given a dividend of $0.0185 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 9.10%. The ex-dividend date is Thursday, November 10th.
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In other news, Director Kevin Arnold Giese sold 49,500 shares of the business’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of C$2.35, for a total transaction of C$116,325.00. Also, Director Lance Tracey sold 25,000 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of C$2.42, for a total value of C$60,500.00.
About Diversified Royalty Corp
Diversified Royalty Corp. (DIV), formerly BENEV Capital Inc, is a multi-royalty company. The Company is engaged in the business of acquiring royalties from multi-location businesses and franchisors in North America (Royalty Partners). Its primary objectives are to purchase stable and growing royalty streams from Royalty Partners, and increase distributable cash per Share by making accretive royalty purchases.
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