Diversified Royalty (TSE:DIV) Shares Pass Above 50-Day Moving Average – Here’s What Happened

Shares of Diversified Royalty Corp. (TSE:DIV) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$2.97 and traded as high as C$2.97. Diversified Royalty shares last traded at C$2.96, with a volume of 181,769 shares trading hands.

Analyst Upgrades and Downgrades

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

Diversified Royalty Stock Up 0.7 %

The firm’s 50-day simple moving average is C$2.97 and its two-hundred day simple moving average is C$2.88. The stock has a market cap of C$489.73 million, a price-to-earnings ratio of 14.10 and a beta of 1.57. The company has a debt-to-equity ratio of 89.69, a quick ratio of 1.74 and a current ratio of 5.73.

Diversified Royalty Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.0208 per share. This represents a $0.25 annualized dividend and a yield of 8.43%. The ex-dividend date of this dividend was Friday, December 13th. Diversified Royalty’s dividend payout ratio is 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.