Freehold Royalties (TSE:FRU) Cut to Hold at Raymond James Financial

Raymond James Financial downgraded shares of Freehold Royalties (TSE:FRU) from a moderate buy rating to a hold rating in a research report sent to investors on Monday morning, Marketbeat reports. They currently have C$18.00 price target on the stock, up from their prior price target of C$17.50.

A number of other equities research analysts also recently weighed in on FRU. National Bank Financial downgraded Freehold Royalties from an “outperform” rating to a “hold” rating and set a C$15.00 target price for the company. in a research report on Friday, January 9th. TD Securities decreased their price target on Freehold Royalties from C$22.00 to C$21.00 and set a “buy” rating on the stock in a report on Thursday, March 12th. Scotiabank lifted their price objective on Freehold Royalties from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 20th. Desjardins dropped their price objective on Freehold Royalties from C$16.50 to C$16.00 and set a “hold” rating for the company in a report on Friday, March 13th. Finally, Royal Bank Of Canada downgraded shares of Freehold Royalties from a “moderate buy” rating to a “hold” rating and set a C$17.00 target price on the stock. in a research report on Friday, March 13th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$16.91.

Freehold Royalties Price Performance

FRU opened at C$16.63 on Monday. The company has a debt-to-equity ratio of 28.51, a current ratio of 1.41 and a quick ratio of 1.50. The stock has a market capitalization of C$2.73 billion, a P/E ratio of 29.70, a price-to-earnings-growth ratio of -0.92 and a beta of 0.65. The company’s 50 day simple moving average is C$17.14 and its 200-day simple moving average is C$15.46. Freehold Royalties has a one year low of C$10.53 and a one year high of C$18.22.

Freehold Royalties (TSE:FRU) last posted its quarterly earnings data on Wednesday, March 11th. The company reported C$0.31 earnings per share for the quarter. Freehold Royalties had a net margin of 29.28% and a return on equity of 8.82%. The firm had revenue of C$69.76 million during the quarter. Sell-side analysts anticipate that Freehold Royalties will post 0.7581169 earnings per share for the current fiscal year.

Freehold Royalties Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 15th will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 6.5%. Freehold Royalties’s payout ratio is presently 192.86%.

Insider Activity

In related news, insider Colin Strem purchased 4,000 shares of Freehold Royalties stock in a transaction dated Tuesday, March 31st. The shares were acquired at an average cost of C$17.37 per share, for a total transaction of C$69,480.00. Following the transaction, the insider directly owned 24,000 shares of the company’s stock, valued at approximately C$416,880. This trade represents a 20.00% increase in their ownership of the stock. 0.45% of the stock is owned by corporate insiders.

Freehold Royalties Company Profile

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.