Diversified Royalty (TSE:DIV) Price Target Cut to C$7.00 by Analysts at ATB Cormark Capital Markets

Diversified Royalty (TSE:DIV) had its target price reduced by ATB Cormark Capital Markets from C$7.25 to C$7.00 in a research report released on Friday morning,BayStreet.CA reports. ATB Cormark Capital Markets currently has an outperform rating on the stock.

Several other equities analysts have also recently commented on DIV. Desjardins cut their price target on Diversified Royalty from C$5.00 to C$4.75 and set a “buy” rating for the company in a report on Friday. Canaccord Genuity Group increased their price target on shares of Diversified Royalty from C$4.75 to C$5.50 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Finally, Raymond James Financial raised their price target on shares of Diversified Royalty from C$4.70 to C$5.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$5.25.

Diversified Royalty Stock Down 0.5%

Shares of Diversified Royalty stock opened at C$4.06 on Friday. The firm has a market cap of C$759.41 million, a price-to-earnings ratio of 20.30 and a beta of 1.11. The company has a debt-to-equity ratio of 212.48, a current ratio of 0.49 and a quick ratio of 1.74. Diversified Royalty has a 52-week low of C$3.37 and a 52-week high of C$4.98. The stock has a 50-day simple moving average of C$4.64 and a 200-day simple moving average of C$4.39.

Diversified Royalty (TSE:DIV) last posted its earnings results on Wednesday, August 12th. The company reported C$0.02 earnings per share for the quarter. Diversified Royalty had a return on equity of 10.39% and a net margin of 39.72%.The company had revenue of C$19.48 million for the quarter. On average, equities research analysts expect that Diversified Royalty will post 0.2 earnings per share for the current fiscal year.

Diversified Royalty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 31st will be paid a $0.0238 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a c) annualized dividend and a yield of 7.0%. Diversified Royalty’s dividend payout ratio is presently 137.50%.

Insider Activity at Diversified Royalty

In other news, Director Johnny Ciampi sold 147,004 shares of Diversified Royalty stock in a transaction on Monday, June 8th. The shares were sold at an average price of C$4.77, for a total transaction of C$701,209.08. Following the transaction, the director directly owned 12,767 shares of the company’s stock, valued at C$60,898.59. This trade represents a 92.01% decrease in their ownership of the stock. Also, insider Greg Gutmanis sold 30,000 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of C$4.85, for a total transaction of C$145,500.00. Following the sale, the insider directly owned 204,185 shares of the company’s stock, valued at C$990,297.25. This represents a 12.81% decrease in their position. Insiders sold 330,000 shares of company stock valued at $1,576,500 in the last ninety days. Insiders own 0.52% of the company’s stock.

Diversified Royalty Company Profile

Diversified Royalty Corp is a multi-royalty company. It is engaged in the business of acquiring royalties from multi-location businesses and franchisors in North America. As a part of the investment strategy, the firm always purchases trademarks of the companies it is going to acquire. The company gives its partners the benefit of full operational control of their business, participation in the growth of their company, and tax deductibility on royal payments. All of the company’s operating revenues are earned from the receipt of royalties and management fees from its Royalty Partners.