Diversified Royalty (TSE:DIV) Price Target Raised to C$3.20

Diversified Royalty (TSE:DIV) had its price target increased by CIBC from C$3.10 to C$3.20 in a research report sent to investors on Thursday,BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

Separately, Desjardins set a C$3.75 price target on Diversified Royalty and gave the company a “buy” rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$3.64.

Diversified Royalty Stock Performance

Shares of TSE:DIV opened at C$3.18 on Thursday. The business has a fifty day moving average of C$2.92 and a 200-day moving average of C$2.86. Diversified Royalty has a twelve month low of C$2.50 and a twelve month high of C$3.21. The company has a debt-to-equity ratio of 90.70, a quick ratio of 1.74 and a current ratio of 4.28. The firm has a market cap of C$486.16 million, a PE ratio of 16.60 and a beta of 1.57.

Diversified Royalty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 30th will be paid a $0.0208 dividend. This represents a $0.25 annualized dividend and a yield of 7.85%. The ex-dividend date is Friday, June 13th. Diversified Royalty’s payout ratio is 130.49%.

About Diversified Royalty

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.