Shares of Diversified Royalty Corp. (TSE:DIV - Get Free Report) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$2.91 and traded as low as C$2.75. Diversified Royalty shares last traded at C$2.78, with a volume of 328,664 shares.
Analyst Upgrades and Downgrades
Separately, Desjardins set a C$3.75 target price on Diversified Royalty and gave the company a "buy" rating in a research report on Wednesday, February 26th. Two equities 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$3.88.
Read Our Latest Research Report on DIV
Diversified Royalty Stock Down 1.4 %
The firm has a market capitalization of C$417.36 million, a price-to-earnings ratio of 14.25 and a beta of 1.57. The business has a 50 day simple moving average of C$2.81 and a 200-day simple moving average of C$2.91. The company has a debt-to-equity ratio of 90.70, a quick ratio of 1.74 and a current ratio of 4.28.
Diversified Royalty Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be paid a dividend of $0.0208 per share. The ex-dividend date is Friday, March 14th. This represents a $0.25 annualized dividend and a yield of 9.14%. Diversified Royalty's dividend payout ratio (DPR) is 130.49%.
About Diversified Royalty
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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.
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