Diversified Royalty (TSE:DIV) Given New C$5.00 Price Target at Raymond James Financial

Diversified Royalty (TSE:DIV) had its target price boosted by Raymond James Financial from C$4.70 to C$5.00 in a report published on Thursday,BayStreet.CA reports. They currently have an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Desjardins raised their target price on Diversified Royalty from C$4.75 to C$5.00 and gave the stock a “buy” rating in a research note on Tuesday. Canaccord Genuity Group boosted their price objective on shares of Diversified Royalty from C$4.75 to C$5.50 and gave the company a “buy” rating in a report on Wednesday, May 20th. Finally, ATB Cormark Capital Markets decreased their target price on shares of Diversified Royalty from C$7.50 to C$7.25 and set an “outperform” rating on the stock in a research report on Tuesday. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$5.35.

Diversified Royalty Stock Up 0.4%

DIV stock opened at C$4.62 on Thursday. The company has a current ratio of 2.84, a quick ratio of 1.74 and a debt-to-equity ratio of 103.05. The firm has a 50-day moving average of C$4.66 and a two-hundred day moving average of C$4.26. Diversified Royalty has a 12 month low of C$3.20 and a 12 month high of C$4.98. The company has a market cap of C$864.16 million, a price-to-earnings ratio of 23.10 and a beta of 1.11.

Diversified Royalty (TSE:DIV) last issued its earnings results on Thursday, May 14th. The company reported C$0.04 earnings per share for the quarter. Diversified Royalty had a return on equity of 12.54% and a net margin of 49.91%.The business had revenue of C$18.80 million for the quarter. As a group, analysts forecast that Diversified Royalty will post 0.2 earnings per share for the current fiscal year.

Diversified Royalty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 31st will be given a $0.0238 dividend. This represents a c) annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend is Wednesday, July 15th. Diversified Royalty’s payout ratio is currently 137.50%.

Insider Activity at Diversified Royalty

In other news, insider Greg Gutmanis sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of C$4.85, for a total value of C$145,500.00. Following the completion of the transaction, the insider owned 204,185 shares of the company’s stock, valued at approximately C$990,297.25. This trade represents a 12.81% decrease in their ownership of the stock. Also, Director Johnny Ciampi sold 152,996 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of C$4.77, for a total transaction of C$729,790.92. Following the completion of the transaction, the director directly owned 839,469 shares of the company’s stock, valued at C$4,004,267.13. This represents a 15.42% decrease in their position. In the last three months, insiders sold 330,000 shares of company stock valued at $1,576,500. Insiders own 0.52% of the company’s stock.

About Diversified Royalty

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. All of the company’s operating revenues are earned from the receipt of royalties and management fees from its Royalty Partners.