Freehold Royalties (TSE:FRU) Share Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Freehold Royalties Ltd. (TSE:FRU) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$16.83 and traded as low as C$16.31. Freehold Royalties shares last traded at C$16.41, with a volume of 564,269 shares.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Royal Bank Of Canada raised their target price on Freehold Royalties from C$17.00 to C$18.00 and gave the stock a “sector perform” rating in a research note on Monday, April 13th. Raymond James Financial cut Freehold Royalties from a “moderate buy” rating to a “hold” rating and upped their price target for the company from C$17.50 to C$18.00 in a research report on Monday, March 30th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$17.03.

Freehold Royalties Trading Up 0.5%

The stock has a market cap of C$2.73 billion, a P/E ratio of 30.89, a P/E/G ratio of -0.92 and a beta of 0.59. The company has a debt-to-equity ratio of 30.45, a quick ratio of 1.50 and a current ratio of 1.73. The stock has a 50-day moving average price of C$16.90 and a 200-day moving average price of C$16.84.

Freehold Royalties (TSE:FRU) last posted its quarterly earnings data on Tuesday, May 12th. The company reported C$0.21 earnings per share for the quarter. The company had revenue of C$77.82 million for the quarter. Freehold Royalties had a net margin of 29.84% and a return on equity of 8.81%. On average, equities research analysts expect that Freehold Royalties Ltd. will post 0.7581169 EPS for the current year.

Freehold Royalties Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 17th will be paid a $0.09 dividend. This represents a c) dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Friday, July 31st. Freehold Royalties’s payout ratio is currently 200.00%.

Insider Activity at Freehold Royalties

In related news, insider Bradley Robert Monaco purchased 6,060 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were purchased at an average price of C$16.56 per share, with a total value of C$100,353.60. Following the acquisition, the insider directly owned 6,060 shares of the company’s stock, valued at approximately C$100,353.60. This represents a ∞ increase in their ownership of the stock. 0.45% of the stock is owned by insiders.

About Freehold Royalties

Freehold Royalties Ltd is in acquiring and managing Oil and Gas royalties. It operates in two segments: Canada, which includes exploration and evaluation assets and the petroleum and natural gas interests in Western Canada; and the United States, which includes petroleum and natural gas interests held in the Permian (Midland and Delaware), Eagle Ford, Haynesville and Bakken basins primarily located in the states of Texas, Louisiana, and North Dakota. The majority of its revenue is generated from Canada Segment.