Insider Buying: Diversified Royalty (TSE:DIV) Insider Purchases C$50,756.52 in Stock

Diversified Royalty Corp. (TSE:DIV) insider Sean Morrison acquired 12,626 shares of Diversified Royalty stock in a transaction dated Friday, August 14th. The shares were purchased at an average cost of C$4.02 per share, with a total value of C$50,756.52. Following the completion of the transaction, the insider directly owned 771,648 shares of the company’s stock, valued at C$3,102,024.96. This trade represents a 1.66% increase in their ownership of the stock.

Diversified Royalty Price Performance

Shares of Diversified Royalty stock opened at C$4.11 on Friday. The business’s 50 day simple moving average is C$4.57 and its 200 day simple moving average is C$4.39. Diversified Royalty Corp. has a 52-week low of C$3.39 and a 52-week high of C$4.98. The firm has a market cap of C$768.77 million, a PE ratio of 24.18 and a beta of 1.11. The company has a debt-to-equity ratio of 212.48, a quick ratio of 1.74 and a current ratio of 0.49.

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

Diversified Royalty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 31st will be given a $0.0238 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, August 14th. Diversified Royalty’s payout ratio is currently 165.69%.

Analysts Set New Price Targets

A number of research firms recently weighed in on DIV. Raymond James Financial raised their target price on shares of Diversified Royalty from C$4.70 to C$5.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Desjardins cut their price target on shares of Diversified Royalty from C$5.00 to C$4.75 and set a “buy” rating on the stock in a research report on Friday, August 14th. Canaccord Genuity Group increased their price objective on shares of Diversified Royalty from C$4.75 to C$5.50 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Finally, ATB Cormark Capital Markets decreased their price objective on Diversified Royalty from C$7.25 to C$7.00 and set an “outperform” rating for the company in a report on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$5.25.

About Diversified Royalty

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.