Diversified Royalty (TSE:DIV) Hits New 52-Week High at $2.99

Shares of Diversified Royalty Corp. (TSE:DIV) reached 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 traded. The stock had previously closed at C$2.90.

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

The company has a debt-to-equity ratio of 90.47, a current ratio of 2.29 and a quick ratio of 2.21. The company has a fifty day moving average of C$2.82 and a 200 day moving average of C$2.64. The firm has a market capitalization of C$363.44 million and a P/E ratio of 37.66.

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 29th. Investors of record on Wednesday, September 29th will be issued a dividend of $0.0175 per share. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 7.02%. Diversified Royalty’s dividend payout ratio is 259.79%.

About Diversified Royalty (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.

Read More: Why Invest in High-Yield Dividend Stocks?

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.