Diversified Royalty (TSE:DIV) Price Target Raised to C$3.60

Diversified Royalty (TSE:DIV) had its target price boosted by Raymond James Financial from C$3.40 to C$3.60 in a report released on Thursday morning,BayStreet.CA reports. Raymond James Financial currently has an outperform rating on the stock.

Several other brokerages have also recently issued reports on DIV. CIBC boosted their price target on Diversified Royalty from C$3.10 to C$3.20 and gave the company a “neutral” rating in a research note on Thursday. Desjardins set a C$3.75 price target on Diversified Royalty and gave the stock a “buy” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$3.64.

Diversified Royalty Stock Up 0.3%

DIV stock opened at C$3.18 on Thursday. The company has a debt-to-equity ratio of 90.70, a current ratio of 4.28 and a quick ratio of 1.74. The stock has a market capitalization of C$486.16 million, a price-to-earnings ratio of 16.60 and a beta of 1.57. The business’s fifty day moving average price is C$2.92 and its two-hundred day moving average price is C$2.86. Diversified Royalty has a fifty-two week low of C$2.50 and a fifty-two week high of C$3.21.

Diversified Royalty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 30th will be paid a $0.0208 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.25 dividend on an annualized basis and a yield of 7.85%. Diversified Royalty’s dividend payout ratio (DPR) is 130.49%.

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.