Freehold Royalties (TSE:FRU) Sets New 52-Week High After Dividend Announcement

Freehold Royalties Ltd. (TSE:FRU) shares reached a new 52-week high on Monday after the company announced a dividend. The stock traded as high as C$18.22 and last traded at C$17.69, with a volume of 434747 shares. The stock had previously closed at C$17.59.

The newly announced dividend which will be paid on Monday, March 16th. Investors of record on Monday, March 16th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 6.1%. Freehold Royalties’s dividend payout ratio (DPR) is currently 135.00%.

Analysts Set New Price Targets

FRU has been the topic of several recent research reports. National Bank Financial cut shares of Freehold Royalties from an “outperform” rating to a “hold” rating and set a C$15.00 target price on the stock. in a research report on Friday, January 9th. Canaccord Genuity Group lifted their target price on shares of Freehold Royalties from C$16.00 to C$17.00 in a report on Friday, November 14th. Raymond James Financial upgraded Freehold Royalties from a “hold” rating to a “moderate buy” rating and lifted their price objective for the stock from C$14.50 to C$17.50 in a report on Tuesday, December 9th. Scotiabank upped their target price on shares of Freehold Royalties from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 20th. Finally, Canadian Imperial Bank of Commerce boosted their target price on Freehold Royalties from C$14.50 to C$15.25 in a report on Friday, November 14th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$15.79.

Freehold Royalties Trading Up 0.1%

The company has a quick ratio of 1.50, a current ratio of 1.63 and a debt-to-equity ratio of 27.54. The firm’s 50 day simple moving average is C$16.21 and its 200-day simple moving average is C$14.86. The company has a market capitalization of C$2.90 billion, a PE ratio of 22.08, a P/E/G ratio of -0.92 and a beta of 0.68.

Freehold Royalties Company Profile

Freehold Royalties Ltd is in acquiring and managing Oil and Gas royalties. It operates in two segments: Canada, which includes exploration and evaluation assets and the petroleum and natural gas interests in Western Canada; and the United States, which includes petroleum and natural gas interests held in the Permian (Midland and Delaware), Eagle Ford, Haynesville and Bakken basins primarily located in the states of Texas, Louisiana, and North Dakota. The majority of its revenue is generated from Canada Segment.