Diversified Royalty (TSE:DIV) Sets New 1-Year High Following Dividend Announcement

Shares of Diversified Royalty Corp. (TSE:DIV - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday following a dividend announcement from the company. The company traded as high as C$3.09 and last traded at C$3.07, with a volume of 54088 shares trading hands. The stock had previously closed at C$3.08.

The newly announced dividend which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be paid a dividend of $0.021 per share. This represents a $0.25 annualized dividend and a yield of 8.26%. The ex-dividend date of this dividend is Tuesday, October 15th. Diversified Royalty's payout ratio is currently 119.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Ventum Cap Mkts upgraded shares of Diversified Royalty to a "strong-buy" rating in a research note on Tuesday, September 24th. Ventum Financial set a C$4.00 price objective on shares of Diversified Royalty and gave the company a "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 issued a strong buy rating to the company's stock. According to data from MarketBeat, Diversified Royalty has a consensus rating of "Moderate Buy" and a consensus target price of C$3.80.

Diversified Royalty Stock Performance

The stock has a market cap of C$504.62 million, a P/E ratio of 14.52 and a beta of 1.57. The company has a quick ratio of 1.74, a current ratio of 5.73 and a debt-to-equity ratio of 89.69. The business has a 50 day moving average price of C$2.88 and a two-hundred day moving average price of C$2.82.

Diversified Royalty (TSE:DIV - Get Free Report) last released its quarterly earnings data on Friday, August 9th. The company reported C$0.05 earnings per share for the quarter, hitting analysts' consensus estimates of C$0.05. The firm had revenue of C$16.78 million during the quarter, compared to analyst estimates of C$17.50 million. Diversified Royalty had a return on equity of 12.02% and a net margin of 51.17%. On average, sell-side analysts forecast that Diversified Royalty Corp. will post 0.2 earnings per share for the current fiscal year.

Diversified Royalty Company Profile

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.