SIR Royalty Income Fund (TSE:SRV.UN) Reaches New 52-Week High – Still a Buy?

SIR Royalty Income Fund (TSE:SRV.UN)’s stock price reached a new 52-week high on Thursday . The company traded as high as C$16.15 and last traded at C$15.96, with a volume of 4155 shares. The stock had previously closed at C$15.92.

SIR Royalty Income Fund Price Performance

The company’s fifty day simple moving average is C$15.15 and its 200-day simple moving average is C$14.75. The firm has a market capitalization of C$132.68 million, a PE ratio of 16.85 and a beta of -0.03.

SIR Royalty Income Fund Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 27th will be issued a $0.105 dividend. This represents a c) annualized dividend and a yield of 8.0%. The ex-dividend date is Friday, February 20th. This is a positive change from SIR Royalty Income Fund’s previous monthly dividend of $0.10. SIR Royalty Income Fund’s payout ratio is presently 122.87%.

SIR Royalty Income Fund Company Profile

SIR Royalty Income Fund (The fund) holds an investment in SIR (Service Inspired Restaurant) Corp. The company is a privately held corporation that owns and operates a diverse portfolio of restaurants in Canada. It has concept restaurant brands, including Jack Astor’s Bar and Grill and Canyon Creek Chop House, Scaddabush/Alice Fazooli’s and signature restaurant brands. The fund receives distribution income from its investment in the Partnership and interest income from the SIR Loan. It generates revenue through the license and royalty agreement from its investments in partnership.