Diversified Royalty (TSE:DIV) Price Target Lowered to C$4.75 at Desjardins

Diversified Royalty (TSE:DIV) had its target price lowered by Desjardins from C$5.00 to C$4.75 in a report released on Friday morning,BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on DIV. Raymond James Financial increased their price target on shares of Diversified Royalty from C$4.70 to C$5.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Canaccord Genuity Group upped their price objective on shares of Diversified Royalty from C$4.75 to C$5.50 and gave the company a “buy” rating in a report on Wednesday, May 20th. Finally, ATB Cormark Capital Markets dropped their price objective on shares of Diversified Royalty from C$7.50 to C$7.25 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, Diversified Royalty currently has a consensus rating of “Buy” and a consensus price target of C$5.25.

Diversified Royalty Trading Down 0.5%

Shares of TSE DIV opened at C$4.06 on Friday. Diversified Royalty has a 1-year low of C$3.37 and a 1-year high of C$4.98. The business has a fifty day moving average price of C$4.64 and a 200 day moving average price of C$4.39. The stock has a market capitalization of C$759.41 million, a P/E ratio of 20.30 and a beta of 1.11. The company has a debt-to-equity ratio of 212.48, a current ratio of 0.49 and a quick ratio of 1.74.

Diversified Royalty (TSE:DIV) last released its quarterly earnings results on Wednesday, August 12th. The company reported C$0.02 earnings per share (EPS) for the quarter. The business had revenue of C$19.48 million for the quarter. Diversified Royalty had a net margin of 39.72% and a return on equity of 10.39%. Equities research analysts expect that Diversified Royalty will post 0.2 EPS for the current fiscal year.

Diversified Royalty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 31st will be issued a $0.0238 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 7.0%. Diversified Royalty’s dividend payout ratio is presently 137.50%.

Insider Activity at Diversified Royalty

In other news, Director Johnny Ciampi sold 152,996 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of C$4.77, for a total transaction of C$729,790.92. Following the completion of the sale, the director owned 839,469 shares of the company’s stock, valued at C$4,004,267.13. This represents a 15.42% decrease in their ownership of the stock. Also, insider Greg Gutmanis sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of C$4.85, for a total value of C$145,500.00. Following the transaction, the insider owned 204,185 shares in the company, valued at approximately C$990,297.25. This represents a 12.81% decrease in their ownership of the stock. Over the last ninety days, insiders have sold 330,000 shares of company stock valued at $1,576,500. Corporate insiders own 0.52% of the company’s stock.

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.