Brokerages Set Freehold Royalties Ltd. (TSE:FRU) Target Price at C$17.06

Freehold Royalties Ltd. (TSE:FRU) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is C$17.06.

A number of brokerages have weighed in on FRU. Canaccord Genuity Group lowered their price target on Freehold Royalties from C$19.00 to C$18.00 in a research report on Tuesday, October 22nd. BMO Capital Markets raised Freehold Royalties from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Raymond James raised Freehold Royalties to a “hold” rating in a report on Thursday, October 17th. CIBC set a C$16.00 price objective on shares of Freehold Royalties and gave the company a “neutral” rating in a report on Monday, December 16th. Finally, Atb Cap Markets lowered shares of Freehold Royalties from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 15th.

Freehold Royalties Price Performance

TSE:FRU opened at C$13.40 on Wednesday. The stock has a market capitalization of C$2.02 billion, a PE ratio of 13.40, a P/E/G ratio of -0.92 and a beta of 1.93. The firm has a fifty day simple moving average of C$13.45 and a 200 day simple moving average of C$13.68. Freehold Royalties has a 1-year low of C$12.19 and a 1-year high of C$14.84. The company has a current ratio of 2.05, a quick ratio of 1.50 and a debt-to-equity ratio of 24.83.

Freehold Royalties Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.09 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 8.06%. The ex-dividend date is Tuesday, December 31st. Freehold Royalties’s dividend payout ratio is currently 108.00%.

About Freehold Royalties

Freehold Royalties Ltd. engages in the acquiring and managing royalty interests in the crude oil, natural gas, natural gas liquids, and potash properties in Western Canada and the United States. Freehold Royalties Ltd. was founded in 1996 and is headquartered in Calgary, Canada.