Freehold Royalties (TSE:FRU) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Freehold Royalties Ltd. (TSE:FRU) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$16.89 and traded as high as C$17.24. Freehold Royalties shares last traded at C$17.15, with a volume of 582,209 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FRU. Raymond James Financial lowered shares of Freehold Royalties from a “moderate buy” rating to a “hold” rating and raised their target price for the company from C$17.50 to C$18.00 in a report on Monday, March 30th. Royal Bank Of Canada upped their price target on shares of Freehold Royalties from C$17.00 to C$18.00 and gave the company a “sector perform” rating in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$17.03.

Freehold Royalties Stock Performance

The company has a debt-to-equity ratio of 30.45, a current ratio of 1.73 and a quick ratio of 1.50. The business has a 50-day simple moving average of C$16.83 and a 200-day simple moving average of C$16.89. The firm has a market capitalization of C$2.81 billion, a PE ratio of 31.76, a P/E/G ratio of -0.92 and a beta of 0.59.

Freehold Royalties (TSE:FRU) last announced its earnings results on Tuesday, May 12th. The company reported C$0.21 EPS for the quarter. The firm had revenue of C$77.82 million during the quarter. Freehold Royalties had a return on equity of 8.81% and a net margin of 29.84%. Equities research analysts expect that Freehold Royalties Ltd. will post 0.7581169 earnings per share for the current fiscal year.

Freehold Royalties Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be given a $0.09 dividend. The ex-dividend date is Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 6.3%. Freehold Royalties’s dividend payout ratio (DPR) is currently 200.00%.

Insider Buying and Selling

In other news, insider Bradley Robert Monaco acquired 6,060 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was bought at an average cost of C$16.56 per share, with a total value of C$100,353.60. Following the completion of the purchase, the insider directly owned 6,060 shares of the company’s stock, valued at C$100,353.60. This represents a ∞ increase in their ownership of the stock. 0.45% of the stock is owned by insiders.

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.