Diversified Royalty (TSE:DIV) Stock Gets Price Target Reduction from Desjardins

Diversified Royalty (TSE:DIV) had its price objective lowered by Desjardins from C$4.75 to C$4.50 in a research report released on Tuesday morning,BayStreet reports. Desjardins currently has a buy rating on the stock.

Separately, ATB Cormark Capital Markets lowered their price target on shares of 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 analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$5.08.

Diversified Royalty Stock Performance

Shares of TSE:DIV opened at C$3.53 on Tuesday. Diversified Royalty has a 1 year low of C$3.42 and a 1 year high of C$4.98. The company has a debt-to-equity ratio of 177.18, a current ratio of 0.58 and a quick ratio of 1.74. The business’s 50 day moving average price is C$4.04 and its 200-day moving average price is C$4.28. The firm has a market capitalization of C$666.31 million, a PE ratio of 23.53 and a beta of 0.90.

Diversified Royalty (TSE:DIV) last released its earnings results on Saturday, November 7th. The company reported C$0.03 earnings per share (EPS) for the quarter. Diversified Royalty had a net margin of 30.10% and a return on equity of 8.78%. The business had revenue of C$31.53 million during the quarter. As a group, equities research analysts expect that Diversified Royalty will post 0.20 earnings per share for the current fiscal year.

Diversified Royalty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 30th will be issued a $0.0238 dividend. This represents a $0.29 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date is Friday, November 13th. Diversified Royalty’s dividend payout ratio (DPR) is presently 189.45%.

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.