CIBC Increases Diversified Royalty (TSE:DIV) Price Target to C$3.10

Diversified Royalty (TSE:DIV - Free Report) had its price objective raised by CIBC from C$3.00 to C$3.10 in a research report released on Tuesday morning,BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.

Separately, Desjardins set a C$3.75 price target on Diversified Royalty and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Diversified Royalty currently has an average rating of "Moderate Buy" and a consensus target price of C$3.62.

Diversified Royalty Price Performance

Diversified Royalty stock traded down C$0.03 during mid-day trading on Tuesday, reaching C$2.78. 281,409 shares of the company's stock traded hands, compared to its average volume of 279,434. Diversified Royalty has a 12-month low of C$2.50 and a 12-month high of C$3.09. The company has a market cap of C$425.01 million, a price-to-earnings ratio of 14.51 and a beta of 1.57. The stock has a 50 day moving average of C$2.80 and a two-hundred day moving average of C$2.91. The company has a quick ratio of 1.74, a current ratio of 4.28 and a debt-to-equity ratio of 90.70.

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Diversified Royalty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be issued a $0.0208 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.25 annualized dividend and a dividend yield of 8.98%. Diversified Royalty's dividend payout ratio (DPR) is presently 130.49%.

Diversified Royalty Company Profile

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.