Diversified Royalty (TSE:DIV) Reaches New 52-Week Low - Here's What Happened

Diversified Royalty Corp. (TSE:DIV - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as C$2.58 and last traded at C$2.65, with a volume of 485042 shares traded. The stock had previously closed at C$2.71.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DIV. Desjardins set a C$3.75 price objective on shares of Diversified Royalty and gave the stock a "buy" rating in a research report on Wednesday, February 26th. CIBC increased their price target on Diversified Royalty from C$3.00 to C$3.10 and gave the stock a "neutral" rating in a report on Tuesday, March 25th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$3.62.

Diversified Royalty Trading Up 2.2 %

The firm's 50-day moving average price is C$2.78 and its 200 day moving average price is C$2.90. The company has a market cap of C$417.36 million, a price-to-earnings ratio of 14.25 and a beta of 1.57. The company has a current ratio of 4.28, a quick ratio of 1.74 and a debt-to-equity ratio of 90.70.

Diversified Royalty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 30th will be issued a $0.0208 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 9.14%. The ex-dividend date is Tuesday, April 15th. Diversified Royalty's payout ratio is 130.49%.

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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.