Freehold Royalties Ltd. (TSE:FRU – Get Free Report) has been given an average rating of “Hold” by the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$15.67.
A number of brokerages have issued reports on FRU. Desjardins decreased their target price on Freehold Royalties from C$14.25 to C$14.00 and set a “hold” rating for the company in a research report on Thursday, May 22nd. CIBC lowered their target price on shares of Freehold Royalties from C$16.00 to C$15.00 in a research note on Thursday, April 10th. Raymond James dropped their target price on shares of Freehold Royalties from C$16.00 to C$14.00 in a report on Wednesday, April 9th. Finally, Scotiabank upgraded shares of Freehold Royalties to a “hold” rating in a report on Wednesday, March 19th.
Freehold Royalties Stock Up 0.9%
Freehold Royalties Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 16th will be given a $0.09 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.08 annualized dividend and a yield of 8.63%. Freehold Royalties’s dividend payout ratio (DPR) is currently 122.40%.
Insiders Place Their Bets
In related news, Senior Officer Shaina Brianne Morihira bought 20,000 shares of the company’s stock in a transaction dated Friday, June 6th. The stock was acquired at an average cost of C$12.42 per share, with a total value of C$248,466.00. Also, Senior Officer Colin Strem purchased 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The stock was bought at an average cost of C$12.44 per share, for a total transaction of C$49,757.20. Insiders have acquired 48,500 shares of company stock worth $601,898 over the last 90 days. Corporate insiders own 0.45% of the company’s stock.
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.
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