Diversified Royalty (TSE:DIV) Reaches New 1-Year High Following Dividend Announcement

Diversified Royalty Corp. (TSE:DIV) shares reached a new 52-week high during mid-day trading on Tuesday after the company announced a dividend. The stock traded as high as C$3.09 and last traded at C$3.07, with a volume of 54088 shares. The stock had previously closed at C$3.08.

The newly announced dividend which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be paid a $0.021 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $0.25 dividend on an annualized basis and a yield of 8.26%. Diversified Royalty’s dividend payout ratio (DPR) is currently 119.05%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DIV. Ventum Cap Mkts upgraded Diversified Royalty to a “strong-buy” rating in a research note on Tuesday, September 24th. Ventum Financial set a C$4.00 price target on Diversified Royalty and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Diversified Royalty has an average rating of “Moderate Buy” and an average price target of C$3.80.

Diversified Royalty Stock Down 1.0 %

The company has a current ratio of 5.73, a quick ratio of 1.74 and a debt-to-equity ratio of 89.69. The firm has a market cap of C$504.62 million, a price-to-earnings ratio of 14.52 and a beta of 1.57. The firm has a 50-day moving average of C$2.89 and a two-hundred day moving average of C$2.82.

Diversified Royalty (TSE:DIV) last issued its quarterly earnings results on Friday, August 9th. The company reported C$0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$0.05. Diversified Royalty had a return on equity of 12.02% and a net margin of 51.17%. The firm had revenue of C$16.78 million for the quarter, compared to analyst estimates of C$17.50 million. As a group, sell-side analysts predict that Diversified Royalty Corp. will post 0.2 earnings per share for the current fiscal year.

About Diversified Royalty

Diversified Royalty Corp., a multi-royalty corporation, engages in the acquisition of royalties from multi-location businesses and franchisors in North America. It owns the Sutton, Mr. Lube + Tires, AIR MILES, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions, and BarBurrito trademarks.