Diversified Royalty (TSE:DIV) Reaches New 52-Week High - Here's Why

Shares of Diversified Royalty Corp. (TSE:DIV - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$3.03 and last traded at C$3.03, with a volume of 28577 shares changing hands. The stock had previously closed at C$3.02.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Ventum Financial set a C$4.00 price objective on Diversified Royalty and gave the stock a "buy" rating in a research report on Tuesday, September 24th. Ventum Cap Mkts upgraded Diversified Royalty to a "strong-buy" rating in a report on Tuesday, September 24th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of C$3.80.

Diversified Royalty Stock Performance

The stock's 50-day simple moving average is C$2.86 and its 200 day simple moving average is C$2.81. The company has a market capitalization of C$501.31 million, a PE ratio of 14.43 and a beta of 1.57. The company has a debt-to-equity ratio of 89.69, a quick ratio of 1.74 and a current ratio of 5.73.

Diversified Royalty (TSE:DIV - Get Free Report) last posted its earnings results on Friday, August 9th. The company reported C$0.05 EPS for the quarter, meeting the consensus estimate of C$0.05. Diversified Royalty had a return on equity of 12.02% and a net margin of 51.17%. The firm had revenue of C$16.78 million for the quarter, compared to analyst estimates of C$17.50 million. As a group, research analysts expect that Diversified Royalty Corp. will post 0.2 earnings per share for the current fiscal year.

Diversified Royalty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 31st will be issued a $0.021 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 8.32%. Diversified Royalty's payout ratio is currently 119.05%.

About Diversified Royalty

Diversified Royalty Corp., a multi-royalty corporation, engages in the acquisition of royalties from multi-location businesses and franchisors in North America. It owns the Sutton, Mr. Lube + Tires, AIR MILES, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions, and BarBurrito trademarks.