Freehold Royalties (TSE:FRU) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Freehold Royalties Ltd. (TSE:FRU)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$16.61 and traded as high as C$17.45. Freehold Royalties shares last traded at C$17.27, with a volume of 584,099 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FRU. TD Securities cut their price target on Freehold Royalties from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. Royal Bank Of Canada lifted their price target on Freehold Royalties from C$17.00 to C$18.00 and gave the company a “sector perform” rating in a research note on Monday, April 13th. Raymond James Financial lowered Freehold Royalties from a “moderate buy” rating to a “hold” rating and lifted their price target for the company from C$17.50 to C$18.00 in a research note on Monday, March 30th. Finally, Desjardins cut their price target on Freehold Royalties from C$16.50 to C$16.00 and set a “hold” rating on the stock in a research note on Friday, March 13th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$17.03.

Freehold Royalties Stock Down 0.6%

The stock has a 50 day moving average price of C$17.34 and a 200 day moving average price of C$16.62. The stock has a market capitalization of C$2.81 billion, a price-to-earnings ratio of 31.78, a price-to-earnings-growth ratio of -0.92 and a beta of 0.56. The company has a quick ratio of 1.50, a current ratio of 1.73 and a debt-to-equity ratio of 30.45.

Freehold Royalties (TSE:FRU) last announced its quarterly earnings results on Tuesday, May 12th. The company reported C$0.21 EPS for the quarter. Freehold Royalties had a return on equity of 8.81% and a net margin of 29.84%.The firm had revenue of C$77.82 million for the quarter. As a group, analysts forecast that Freehold Royalties Ltd. will post 0.7581169 EPS for the current year.

Freehold Royalties Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 15th will be paid a $0.09 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, May 29th. Freehold Royalties’s payout ratio is currently 200.00%.

Insider Activity at Freehold Royalties

In related news, insider Colin Strem acquired 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The shares were bought at an average cost of C$17.37 per share, with a total value of C$69,480.00. Following the completion of the purchase, the insider directly owned 24,000 shares in the company, valued at C$416,880. The trade was a 20.00% increase in their ownership of the stock. 0.45% of the stock is currently owned by corporate insiders.

Freehold Royalties Company Profile

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.