Diversified Royalty (TSE:DIV) Sets New 12-Month High – Here’s What Happened

Diversified Royalty Corp. (TSE:DIV) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$4.14 and last traded at C$4.14, with a volume of 293039 shares. The stock had previously closed at C$4.07.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DIV. Desjardins upped their target price on Diversified Royalty from C$4.00 to C$4.50 and gave the company a “buy” rating in a report on Tuesday, February 10th. Canadian Imperial Bank of Commerce boosted their price target on shares of Diversified Royalty from C$3.50 to C$4.00 in a research report on Friday, November 14th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Diversified Royalty has a consensus rating of “Moderate Buy” and an average price target of C$4.03.

Diversified Royalty Trading Up 1.2%

The firm has a 50-day moving average of C$3.85 and a 200 day moving average of C$3.66. The company has a market cap of C$703.47 million, a P/E ratio of 24.24 and a beta of 0.99. The company has a current ratio of 4.28, a quick ratio of 1.74 and a debt-to-equity ratio of 90.70.

Diversified Royalty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 27th will be given a dividend of $0.0238 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Friday, February 13th. Diversified Royalty’s payout ratio is presently 151.95%.

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.