Diversified Royalty (TSE:DIV) Sets New 52-Week High Following Analyst Upgrade

Diversified Royalty Corp. (TSE:DIV)’s share price reached a new 52-week high during mid-day trading on Tuesday after Raymond James Financial raised their price target on the stock from C$4.25 to C$4.70. Raymond James Financial currently has an outperform rating on the stock. Diversified Royalty traded as high as C$4.47 and last traded at C$4.46, with a volume of 798818 shares. The stock had previously closed at C$4.31.

DIV has been the topic of several other reports. Canaccord Genuity Group raised their price target on shares of Diversified Royalty from C$4.75 to C$5.50 and gave the stock a “buy” rating in a research note on Wednesday. Desjardins raised their price target on shares of Diversified Royalty from C$4.50 to C$4.75 and gave the stock a “buy” rating in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$4.74.

Diversified Royalty Price Performance

The company’s 50-day moving average is C$4.22 and its 200-day moving average is C$3.97. The company has a debt-to-equity ratio of 103.05, a current ratio of 2.84 and a quick ratio of 1.74. The firm has a market capitalization of C$818.66 million, a price-to-earnings ratio of 23.90 and a beta of 1.07.

Diversified Royalty (TSE:DIV) last released its earnings results on Thursday, May 14th. The company reported C$0.04 earnings per share (EPS) for the quarter. Diversified Royalty had a net margin of 49.91% and a return on equity of 12.54%. The business had revenue of C$18.80 million for the quarter. On average, research analysts expect that Diversified Royalty Corp. will post 0.2 earnings per share for the current year.

Diversified Royalty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 29th will be given a $0.0238 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 6.0%. Diversified Royalty’s dividend payout ratio (DPR) is currently 137.51%.

Diversified Royalty Company Profile

Diversified Royalty Corp is a multi-royalty company. It is engaged in the business of acquiring royalties from multi-location businesses and franchisors in North America. As a part of the investment strategy, the firm always purchases trademarks of the companies it is going to acquire. The company gives its partners the benefit of full operational control of their business, participation in the growth of their company, and tax deductibility on royal payments. All of the company’s operating revenues are earned from the receipt of royalties and management fees from its Royalty Partners.