Diversified Royalty (TSE:DIV) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

Diversified Royalty Corp. (TSE:DIV)’s stock price passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$4.30 and traded as low as C$4.09. Diversified Royalty shares last traded at C$4.11, with a volume of 208,941 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. ATB Cormark Capital Markets decreased their price objective on Diversified Royalty from C$7.25 to C$7.00 and set an “outperform” rating on the stock in a research report on Friday, August 14th. Desjardins dropped their target price on Diversified Royalty from C$5.00 to C$4.75 and set a “buy” rating for the company in a research report on Friday, August 14th. Finally, Raymond James Financial upped their price target on Diversified Royalty from C$4.70 to C$5.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$5.25.

Diversified Royalty Stock Down 1.5%

The business’s 50-day moving average is C$4.28 and its two-hundred day moving average is C$4.39. The firm has a market capitalization of C$766.35 million, a price-to-earnings ratio of 23.88 and a beta of 1.06. The company has a debt-to-equity ratio of 212.48, a quick ratio of 1.74 and a current ratio of 0.49.

Diversified Royalty (TSE:DIV) last issued its quarterly earnings data on Wednesday, August 12th. The company reported C$0.02 earnings per share (EPS) for the quarter. The firm had revenue of C$19.48 million during the quarter. Diversified Royalty had a net margin of 39.72% and a return on equity of 10.39%. On average, equities analysts anticipate that Diversified Royalty Corp. will post 0.2 earnings per share for the current year.

Diversified Royalty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th will be given a $0.0238 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%. Diversified Royalty’s dividend payout ratio is currently 165.69%.

Insiders Place Their Bets

In other Diversified Royalty news, insider Sean Morrison acquired 12,626 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average price of C$4.02 per share, with a total value of C$50,756.52. Following the purchase, the insider owned 771,648 shares of the company’s stock, valued at C$3,102,024.96. This represents a 1.66% increase in their position. Also, Director Johnny Ciampi bought 100,000 shares of Diversified Royalty stock in a transaction on Friday, August 14th. The shares were acquired at an average price of C$3.99 per share, for a total transaction of C$399,000.00. Following the completion of the acquisition, the director owned 112,767 shares of the company’s stock, valued at approximately C$449,940.33. This represents a 783.27% increase in their position. 0.52% of the stock is owned by corporate insiders.

Diversified Royalty Company Profile

Diversified Royalty Corp is a multi-royalty company. It is engaged in the business of acquiring royalties from multi-location businesses and franchisors in North America. As a part of the investment strategy, the firm always purchases trademarks of the companies it is going to acquire. The company gives its partners the benefit of full operational control of their business, participation in the growth of their company, and tax deductibility on royal payments. All of the company’s operating revenues are earned from the receipt of royalties and management fees from its Royalty Partners.