Diversified Royalty (TSE:DIV) Hits New 1-Year High – Time to Buy?

Shares of Diversified Royalty Corp. (TSE:DIV) hit a new 52-week high on Monday . The company traded as high as C$4.92 and last traded at C$4.92, with a volume of 255137 shares changing hands. The stock had previously closed at C$4.84.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. ATB Cormark Capital Markets raised their price target on Diversified Royalty from C$5.00 to C$5.50 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Desjardins raised their price target on Diversified Royalty from C$4.50 to C$4.75 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Raymond James Financial raised their price target on Diversified Royalty from C$4.25 to C$4.70 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Finally, Canaccord Genuity Group raised their price target on Diversified Royalty from C$4.75 to C$5.50 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Diversified Royalty presently has an average rating of “Moderate Buy” and an average price target of C$4.89.

Diversified Royalty Trading Down 0.6%

The stock has a market cap of C$823.80 million, a PE ratio of 24.05 and a beta of 1.07. The business has a 50-day moving average of C$4.29 and a 200 day moving average of C$4.01. The company has a debt-to-equity ratio of 103.05, a quick ratio of 1.74 and a current ratio of 2.84.

Diversified Royalty (TSE:DIV) last posted its quarterly earnings data on Thursday, May 14th. The company reported C$0.04 EPS for the quarter. The firm had revenue of C$18.80 million during the quarter. Diversified Royalty had a return on equity of 12.54% and a net margin of 49.91%. Equities research analysts predict that Diversified Royalty Corp. will post 0.2 EPS for the current fiscal year.

Diversified Royalty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 29th will be given a dividend of $0.0238 per share. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Friday, May 15th. Diversified Royalty’s dividend payout ratio (DPR) is currently 137.51%.

About Diversified Royalty

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.