Diversified Royalty (TSE:DIV) Shares Cross Above Fifty Day Moving Average – Here’s What Happened

Diversified Royalty Corp. (TSE:DIV)’s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$2.98 and traded as high as C$3.02. Diversified Royalty shares last traded at C$2.98, with a volume of 175,972 shares.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Ventum Cap Mkts raised Diversified Royalty to a “strong-buy” rating in a research report on Tuesday, September 24th. Ventum Financial set a C$4.00 price objective on Diversified Royalty and gave the company a “buy” rating in a report on Tuesday, September 24th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$3.80.

Diversified Royalty Stock Down 1.3 %

The business has a fifty day moving average price of C$2.98 and a two-hundred day moving average price of C$2.84. The company has a debt-to-equity ratio of 89.69, a current ratio of 5.73 and a quick ratio of 1.74. The firm has a market capitalization of C$493.04 million, a price-to-earnings ratio of 14.19 and a beta of 1.57.

Diversified Royalty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 29th will be issued a $0.021 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 8.46%. The ex-dividend date is Friday, November 15th. Diversified Royalty’s dividend payout ratio is presently 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.