Diversified Royalty (TSE:DIV) Reaches New 1-Year High at $2.99

Diversified Royalty Corp. (TSE:DIV) hit a new 52-week high during trading on Thursday . The company traded as high as C$2.99 and last traded at C$2.98, with a volume of 406093 shares. The stock had previously closed at C$2.90.

A number of equities research analysts recently issued reports on DIV shares. Cormark boosted their target price on shares of Diversified Royalty from C$3.40 to C$3.75 and gave the company a “na” rating in a report on Monday, August 16th. CIBC boosted their target price on shares of Diversified Royalty to C$3.25 and gave the stock an “outperform” rating in a research report on Monday, August 16th. Finally, Pi Financial upped their price target on shares of Diversified Royalty from C$4.00 to C$4.40 and gave the company a “buy” rating in a report on Tuesday, August 3rd.

The stock’s 50-day moving average is C$2.82 and its 200-day moving average is C$2.64. The stock has a market cap of C$354.93 million and a P/E ratio of 37.92. The company has a current ratio of 2.29, a quick ratio of 2.21 and a debt-to-equity ratio of 90.47.

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 29th. Shareholders of record on Wednesday, September 29th will be paid a dividend of $0.0175 per share. This represents a $0.21 dividend on an annualized basis and a yield of 7.19%. The ex-dividend date is Tuesday, September 14th. Diversified Royalty’s dividend payout ratio is presently 259.79%.

Diversified Royalty Company Profile (TSE:DIV)

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 Mr. Lube, AIR MILES, Sutton, Mr. Mikes, Nurse Next Door, and Oxford Learning Centres trademarks. The company was formerly known as BENEV Capital Inc and changed its name to Diversified Royalty Corp.

Featured Story: Equal Weight Rating

Receive News & Ratings for Diversified Royalty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diversified Royalty and related companies with MarketBeat.com's FREE daily email newsletter.