Diversified Royalty Corp. (TSE:DIV – Get Rating)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$2.68 and traded as high as C$2.77. Diversified Royalty shares last traded at C$2.75, with a volume of 483,398 shares trading hands.
Wall Street Analyst Weigh In
Separately, CIBC decreased their price target on Diversified Royalty from C$3.25 to C$3.15 and set a “neutral” rating on the stock in a research note on Monday, May 16th.
Diversified Royalty Stock Performance
The stock has a 50-day simple moving average of C$2.68 and a 200 day simple moving average of C$2.89. The company has a debt-to-equity ratio of 111.90, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of C$341.20 million and a PE ratio of 13.10.
Diversified Royalty Dividend Announcement
The business also recently declared a monthly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 29th were issued a $0.0183 dividend. The ex-dividend date was Thursday, July 14th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 7.99%. Diversified Royalty’s dividend payout ratio (DPR) is 101.19%.
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. The company owns the Mr. Lube, AIR MILES, Sutton, Mr. Mikes, Nurse Next Door, and Oxford Learning Centres trademarks. The company was formerly known as BENEV Capital Inc and changed its name to Diversified Royalty Corp.
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