Freehold Royalties (TSE:FRU) Announces Quarterly Earnings Results

Freehold Royalties (TSE:FRU) posted its quarterly earnings data on Wednesday. The company reported C$0.34 EPS for the quarter, FiscalAI reports. Freehold Royalties had a net margin of 29.84% and a return on equity of 8.81%. The company had revenue of C$100.29 million during the quarter.

Freehold Royalties Stock Up 2.2%

Shares of TSE FRU traded up C$0.36 during mid-day trading on Wednesday, reaching C$16.82. The company had a trading volume of 749,365 shares, compared to its average volume of 719,372. The stock has a fifty day moving average of C$16.76 and a two-hundred day moving average of C$16.93. The company has a debt-to-equity ratio of 30.45, a quick ratio of 1.50 and a current ratio of 1.73. The company has a market capitalization of C$2.76 billion, a price-to-earnings ratio of 31.15, a PEG ratio of -0.92 and a beta of 0.59. Freehold Royalties has a 12-month low of C$12.94 and a 12-month high of C$18.22.

Freehold Royalties Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be given a $0.09 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend is Friday, July 31st. Freehold Royalties’s dividend payout ratio is 200.00%.

Insider Activity at Freehold Royalties

In related news, insider Bradley Robert Monaco acquired 6,060 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were purchased at an average cost of C$16.56 per share, with a total value of C$100,353.60. Following the completion of the transaction, the insider owned 6,060 shares of the company’s stock, valued at approximately C$100,353.60. This trade represents a ∞ increase in their position. Corporate insiders own 0.45% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada lifted their target price on shares of Freehold Royalties from C$17.00 to C$18.00 and gave the stock a “sector perform” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Freehold Royalties presently has a consensus rating of “Hold” and a consensus price target of C$17.03.

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.