Diversified Royalty (TSE:DIV) Announces Quarterly Earnings Results

Diversified Royalty (TSE:DIV) posted its quarterly earnings results on Thursday. The company reported C$0.04 earnings per share (EPS) for the quarter, FiscalAI reports. Diversified Royalty had a net margin of 51.82% and a return on equity of 12.71%. The business had revenue of C$17.48 million during the quarter.

Diversified Royalty Stock Performance

Diversified Royalty stock traded up C$0.07 during midday trading on Thursday, reaching C$4.32. The stock had a trading volume of 288,575 shares, compared to its average volume of 324,600. Diversified Royalty has a 12 month low of C$2.87 and a 12 month high of C$4.42. The firm’s 50-day moving average price is C$4.19 and its 200 day moving average price is C$3.94. The firm has a market capitalization of C$738.76 million, a PE ratio of 20.57 and a beta of 1.07. The company has a quick ratio of 1.74, a current ratio of 0.68 and a debt-to-equity ratio of 88.76.

Diversified Royalty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 29th will be paid a $0.0238 dividend. This represents a c) dividend on an annualized basis and a yield of 6.6%. The ex-dividend date is Friday, May 15th. Diversified Royalty’s payout ratio is currently 126.79%.

Analyst Upgrades and Downgrades

Separately, Desjardins lifted their target price on Diversified Royalty from C$4.00 to C$4.50 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$4.03.

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.