Diversified Royalty (TSE:DIV) Stock Price Passes Above 50-Day Moving Average – Here’s Why

Diversified Royalty Corp. (TSE:DIV) passed 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 traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DIV shares. 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 target on shares of Diversified Royalty and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Diversified Royalty presently has an average rating of “Moderate Buy” and an average target price of C$3.80.

Diversified Royalty Stock Performance

The stock has a market capitalization of C$489.73 million, a P/E ratio of 14.10 and a beta of 1.57. The company has a quick ratio of 1.74, a current ratio of 5.73 and a debt-to-equity ratio of 89.69. The firm has a 50-day moving average of C$2.97 and a 200 day moving average of C$2.88.

Diversified Royalty Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.0208 per share. The ex-dividend date was Friday, December 13th. This represents a $0.25 annualized dividend and a dividend yield of 8.43%. Diversified Royalty’s dividend payout ratio (DPR) is currently 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.