Freehold Royalties Ltd. (TSE:FRU – Get Free Report) hit a new 52-week high on Monday following a dividend announcement from the company. The stock traded as high as C$18.22 and last traded at C$17.69, with a volume of 434747 shares. The stock had previously closed at C$17.59.
The newly announced dividend which will be paid on Monday, March 16th. Investors of record on Monday, March 16th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, February 27th. This represents a c) annualized dividend and a yield of 6.1%. Freehold Royalties’s dividend payout ratio is 135.00%.
Wall Street Analysts Forecast Growth
FRU has been the topic of a number of research analyst reports. Canadian Imperial Bank of Commerce increased their price objective on shares of Freehold Royalties from C$14.50 to C$15.25 in a report on Friday, November 14th. Raymond James Financial raised shares of Freehold Royalties from a “hold” rating to a “moderate buy” rating and increased their price target for the company from C$14.50 to C$17.50 in a research note on Tuesday, December 9th. Canaccord Genuity Group raised their price target on shares of Freehold Royalties from C$16.00 to C$17.00 in a report on Friday, November 14th. National Bank Financial lowered Freehold Royalties from an “outperform” rating to a “hold” rating and set a C$15.00 price objective on the stock. in a research report on Friday, January 9th. Finally, Scotiabank lifted their target price on Freehold Royalties from C$15.00 to C$16.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 20th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Freehold Royalties presently has a consensus rating of “Hold” and an average target price of C$15.79.
Freehold Royalties Stock Up 0.6%
The firm has a market cap of C$2.90 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of -0.92 and a beta of 0.68. The firm’s 50 day moving average is C$16.11 and its two-hundred day moving average is C$14.80. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 22.91.
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.
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