Sean Morrison Acquires 12,626 Shares of Diversified Royalty (TSE:DIV) Stock

Diversified Royalty Corp. (TSE:DIV) insider Sean Morrison purchased 12,626 shares of Diversified Royalty stock in a transaction dated Friday, August 14th. The stock was acquired at an average price of C$4.02 per share, for a total transaction of C$50,756.52. Following the completion of the transaction, the insider owned 771,648 shares in the company, valued at approximately C$3,102,024.96. The trade was a 1.66% increase in their position.

Diversified Royalty Price Performance

Shares of TSE:DIV opened at C$4.11 on Friday. The company has a quick ratio of 1.74, a current ratio of 0.49 and a debt-to-equity ratio of 212.48. Diversified Royalty Corp. has a fifty-two week low of C$3.37 and a fifty-two week high of C$4.98. The firm has a 50-day simple moving average of C$4.59 and a 200 day simple moving average of C$4.39. The company has a market cap of C$768.77 million, a PE ratio of 24.18 and a beta of 1.11.

Diversified Royalty (TSE:DIV) last issued its earnings results on Wednesday, August 12th. The company reported C$0.02 earnings per share (EPS) for the quarter. Diversified Royalty had a net margin of 39.72% and a return on equity of 10.39%. The firm had revenue of C$19.48 million for the quarter. On average, sell-side analysts anticipate that Diversified Royalty Corp. will post 0.2 EPS for the current year.

Diversified Royalty Dividend Announcement

The business 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) annualized dividend and a dividend yield of 6.9%. Diversified Royalty’s dividend payout ratio (DPR) is 165.69%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Canaccord Genuity Group upped their price objective on Diversified Royalty from C$4.75 to C$5.50 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Desjardins cut their target price on Diversified Royalty from C$5.00 to C$4.75 and set a “buy” rating on the stock in a research note on Friday, August 14th. Raymond James Financial boosted their price target on shares of Diversified Royalty from C$4.70 to C$5.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Finally, ATB Cormark Capital Markets lowered their price target on shares of Diversified Royalty from C$7.25 to C$7.00 and set an “outperform” rating for the company in a research report on Friday, August 14th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, Diversified Royalty presently has an average rating of “Buy” and an average price target of C$5.25.

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.