Diversified Royalty (TSE:DIV) Price Target Lowered to C$3.30 at CIBC

Diversified Royalty (TSE:DIV – Get Rating) had its price objective cut by CIBC from C$3.50 to C$3.30 in a research report report published on Monday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Separately, Canaccord Genuity Group lifted their price target on shares of Diversified Royalty from C$3.50 to C$4.00 in a research note on Thursday, November 24th.

Diversified Royalty Price Performance

DIV stock opened at C$3.13 on Monday. The firm has a market cap of C$441.96 million, a price-to-earnings ratio of 14.23 and a beta of 1.53. The company has a quick ratio of 1.74, a current ratio of 1.99 and a debt-to-equity ratio of 83.49. Diversified Royalty has a 12-month low of C$2.51 and a 12-month high of C$3.40. The company’s fifty day simple moving average is C$3.23 and its 200 day simple moving average is C$3.03.

Diversified Royalty Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 31st will be paid a $0.02 dividend. This represents a $0.24 annualized dividend and a yield of 7.67%. The ex-dividend date of this dividend is Tuesday, March 14th. Diversified Royalty’s dividend payout ratio (DPR) is currently 109.09%.

Diversified Royalty Company Profile

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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.