Freehold Royalties (TSE:FRU) Sets New 52-Week Low Following Analyst Downgrade

Freehold Royalties Ltd. (TSE:FRU - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Thursday after CIBC lowered their price target on the stock from C$16.00 to C$15.00. The stock traded as low as C$10.53 and last traded at C$11.81, with a volume of 1112718 shares traded. The stock had previously closed at C$10.86.

Other analysts have also recently issued reports about the company. National Bankshares increased their price objective on Freehold Royalties from C$15.50 to C$16.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Scotiabank raised shares of Freehold Royalties to a "hold" rating in a research note on Wednesday, March 19th. Raymond James reduced their target price on shares of Freehold Royalties from C$16.00 to C$14.00 in a research note on Wednesday, April 9th. BMO Capital Markets upgraded shares of Freehold Royalties from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 16th. Finally, Desjardins raised their price objective on shares of Freehold Royalties from C$16.50 to C$17.00 and gave the company a "buy" rating in a research report on Friday, March 14th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Freehold Royalties presently has an average rating of "Moderate Buy" and an average target price of C$16.43.

Freehold Royalties Stock Performance

The stock's 50-day moving average is C$12.38 and its 200-day moving average is C$13.13. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 22.91. The stock has a market cap of C$1.71 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of -0.92 and a beta of 1.93.

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Freehold Royalties Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 17th were paid a $0.09 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 9.52%. The ex-dividend date of this dividend was Friday, February 28th. Freehold Royalties's dividend payout ratio is presently 122.40%.

About Freehold Royalties

Freehold Royalties Ltd is in acquiring and managing Oil and Gas royalties. It operates in two segments: Canada, which includes exploration and evaluation assets and the petroleum and natural gas interests in Western Canada; and the United States, which includes petroleum and natural gas interests held in the Permian (Midland and Delaware), Eagle Ford, Haynesville and Bakken basins primarily located in the states of Texas, Louisiana, and North Dakota.