Diversified Royalty Corp. (TSE:DIV – Get Free Report) shares crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$2.92 and traded as high as C$3.03. Diversified Royalty shares last traded at C$3.01, with a volume of 298,486 shares changing hands.
Wall Street Analysts Forecast Growth
DIV has been the subject of several analyst reports. Ventum Financial set a C$4.00 price target on shares of Diversified Royalty and gave the company a “buy” rating in a research report on Tuesday, September 24th. Ventum Cap Mkts raised shares of Diversified Royalty to a “strong-buy” rating in a research report on Tuesday, September 24th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Diversified Royalty currently has an average rating of “Moderate Buy” and a consensus price target of C$3.80.
Diversified Royalty Stock Performance
Diversified Royalty (TSE:DIV – Get Free Report) last posted its earnings results on Friday, August 9th. The company reported C$0.05 EPS for the quarter, hitting the consensus estimate of C$0.05. Diversified Royalty had a net margin of 51.17% and a return on equity of 12.02%. The firm had revenue of C$16.78 million during the quarter, compared to analysts’ expectations of C$17.50 million. On average, equities research analysts expect that Diversified Royalty Corp. will post 0.2 earnings per share for the current fiscal year.
Diversified Royalty Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be given a dividend of $0.021 per share. The ex-dividend date is Tuesday, October 15th. This represents a $0.25 dividend on an annualized basis and a yield of 8.32%. Diversified Royalty’s dividend payout ratio (DPR) is currently 119.05%.
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. It owns the Sutton, Mr. Lube + Tires, AIR MILES, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions, and BarBurrito trademarks.
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