Diversified Royalty Corp (DIV) Receives Outperform Rating from CIBC
CIBC restated their outperform rating on shares of Diversified Royalty Corp (TSE:DIV) in a research report sent to investors on Monday morning. The brokerage currently has a C$3.00 price objective on the stock.
DIV has been the subject of several other reports. Beacon Securities reaffirmed a buy rating on shares of Diversified Royalty Corp in a report on Thursday, November 17th. Paradigm Capital decreased their price target on Diversified Royalty Corp from C$3.50 to C$3.00 and set a buy rating for the company in a report on Friday, September 2nd.
Shares of Diversified Royalty Corp (TSE:DIV) opened at 2.45 on Monday. The stock has a market cap of $280.16 million and a price-to-earnings ratio of 39.52. The stock’s 50 day moving average is $2.48 and its 200-day moving average is $2.34. Diversified Royalty Corp has a 12-month low of $1.96 and a 12-month high of $2.60.
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The firm also recently announced a monthly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 30th will be issued a $0.0185 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 9.10%. The ex-dividend date is Thursday, November 10th.
In other Diversified Royalty Corp news, Director Kevin Arnold Giese sold 49,500 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of C$2.35, for a total value of C$116,325.00. Also, Director Lance Tracey sold 25,000 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of C$2.42, for a total value of C$60,500.00.
About Diversified Royalty Corp
Diversified Royalty Corp. (DIV), formerly BENEV Capital Inc, is a multi-royalty company. The Company is engaged in the business of acquiring royalties from multi-location businesses and franchisors in North America (Royalty Partners). Its primary objectives are to purchase stable and growing royalty streams from Royalty Partners, and increase distributable cash per Share by making accretive royalty purchases.
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