Diversified Royalty (TSE:DIV) Price Target Raised to C$4.50

Diversified Royalty (TSE:DIV) had its price objective increased by Desjardins from C$4.00 to C$4.50 in a research report sent to investors on Tuesday morning,BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

Separately, Canadian Imperial Bank of Commerce lifted their target price on Diversified Royalty from C$3.50 to C$4.00 in a research note on Friday, November 14th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$4.03.

Diversified Royalty Stock Performance

TSE:DIV opened at C$4.06 on Tuesday. The company has a debt-to-equity ratio of 90.70, a current ratio of 4.28 and a quick ratio of 1.74. Diversified Royalty has a 1-year low of C$2.57 and a 1-year high of C$4.10. The firm has a 50-day moving average of C$3.84 and a two-hundred day moving average of C$3.64. The stock has a market cap of C$693.22 million, a P/E ratio of 23.88 and a beta of 0.99.

Diversified Royalty (TSE:DIV) last announced its quarterly earnings data on Thursday, November 13th. The company reported C$0.05 earnings per share (EPS) for the quarter. Diversified Royalty had a return on equity of 11.46% and a net margin of 49.25%.The firm had revenue of C$19.59 million for the quarter. On average, research analysts expect that Diversified Royalty will post 0.2 earnings per share for the current fiscal year.

Diversified Royalty Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were paid a $0.0238 dividend. This is an increase from Diversified Royalty’s previous monthly dividend of $0.02. This represents a c) dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend was Monday, December 15th. Diversified Royalty’s payout ratio is presently 151.95%.

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.