Diversified Royalty (TSE:DIV) Releases Quarterly Earnings Results

Diversified Royalty (TSE:DIV) announced its quarterly earnings data on Saturday. The company reported C$0.03 EPS for the quarter, FiscalAI reports. The firm had revenue of C$31.53 million during the quarter. Diversified Royalty had a net margin of 39.72% and a return on equity of 10.39%.

Diversified Royalty Stock Performance

TSE DIV traded down C$0.05 during trading hours on Friday, reaching C$4.07. The stock had a trading volume of 438,350 shares, compared to its average volume of 462,484. Diversified Royalty has a 52-week low of C$3.43 and a 52-week high of C$4.98. The stock has a fifty day moving average of C$4.08 and a 200 day moving average of C$4.28. The company has a debt-to-equity ratio of 212.48, a quick ratio of 1.74 and a current ratio of 0.49. The stock has a market cap of C$768.24 million, a P/E ratio of 23.94 and a beta of 0.90.

Diversified Royalty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 30th will be given a $0.0238 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.29 dividend on an annualized basis and a yield of 7.0%. Diversified Royalty’s dividend payout ratio is currently 165.69%.

Insider Buying and Selling

In other Diversified Royalty news, Director Johnny Ciampi purchased 100,000 shares of Diversified Royalty stock in a transaction on 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 transaction, the director owned 112,767 shares of the company’s stock, valued at C$449,940.33. This represents a 783.27% increase in their position. Also, insider Sean Morrison acquired 12,626 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were 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 owned 771,648 shares in the company, valued at approximately C$3,102,024.96. This trade represents a 1.66% increase in their position. Company insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Desjardins lowered 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 research note on Friday, August 14th. ATB Cormark Capital Markets cut their target price on Diversified Royalty from C$7.25 to C$7.00 and set an “outperform” rating on the stock in a research report on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$5.25.

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.