Royalty Pharma plc (NASDAQ:RPRX) Declares $0.21 Quarterly Dividend

Royalty Pharma plc (NASDAQ:RPRX) announced a quarterly dividend on Friday, October 11th,Zacks Dividends reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.21 per share by the biopharmaceutical company on Tuesday, December 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Friday, November 15th.

Royalty Pharma has raised its dividend payment by an average of 38.7% annually over the last three years. Royalty Pharma has a dividend payout ratio of 19.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Royalty Pharma to earn $4.31 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 19.5%.

Royalty Pharma Trading Down 0.6 %

NASDAQ:RPRX opened at $25.85 on Thursday. The stock has a market cap of $15.34 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 3.80 and a beta of 0.47. The company’s 50 day moving average price is $27.66 and its 200-day moving average price is $27.50. Royalty Pharma has a 52 week low of $25.20 and a 52 week high of $31.66. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64.

Analyst Upgrades and Downgrades

RPRX has been the topic of a number of research analyst reports. Citigroup lowered their price objective on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group increased their price objective on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Royalty Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.67.

Royalty Pharma Company Profile

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.