Diversified Royalty (TSE:DIV) Posts Quarterly Earnings Results

Diversified Royalty (TSE:DIV) announced its quarterly earnings data on Saturday. The company reported C$0.03 earnings per share for the quarter, FiscalAI reports. Diversified Royalty had a net margin of 39.72% and a return on equity of 10.39%. The firm had revenue of C$31.53 million for the quarter.

Diversified Royalty Trading Down 1.2%

TSE DIV opened at C$4.07 on Friday. Diversified Royalty has a 1 year low of C$3.43 and a 1 year high of C$4.98. The company has a debt-to-equity ratio of 212.48, a current ratio of 0.49 and a quick ratio of 1.74. The company has a market capitalization of C$768.24 million, a PE ratio of 23.94 and a beta of 0.90. The company has a fifty day moving average of C$4.08 and a 200 day moving average of C$4.28.

Diversified Royalty Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 30th will be given a dividend of $0.0238 per share. The ex-dividend date is Friday, November 13th. This represents a $0.29 dividend on an annualized basis and a yield of 7.0%. Diversified Royalty’s payout ratio is currently 165.69%.

Insider Activity

In related news, Director Johnny Ciampi acquired 100,000 shares of Diversified Royalty stock in a transaction on Friday, August 14th. The stock was acquired at an average price of C$3.99 per share, for a total transaction of C$399,000.00. Following the purchase, the director owned 112,767 shares of the company’s stock, valued at approximately C$449,940.33. This represents a 783.27% increase in their position. Also, insider Sean Morrison acquired 12,626 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was bought at an average cost of C$4.02 per share, with a total value of C$50,756.52. Following the acquisition, the insider owned 771,648 shares in the company, valued at approximately C$3,102,024.96. This trade represents a 1.66% increase in their ownership of the stock. 0.52% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on DIV shares. Desjardins decreased their target price on Diversified Royalty from C$5.00 to C$4.75 and set a “buy” rating for the company in a report on Friday, August 14th. ATB Cormark Capital Markets cut their price target on shares of Diversified Royalty from C$7.25 to C$7.00 and set an “outperform” rating on the stock in a report on Friday, August 14th. Four research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$5.25.

Diversified Royalty Company Profile

DIV is a multi-royalty corporation, engaged in the business of acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America. DIV’s objective is to acquire predictable, growing royalty streams from a diverse group of multi-location businesses and franchisors. DIV, through its subsidiary, Mr. Lube Canada Ltd., also operates the Mr. Lube + Tires franchisor business in Canada. Mr. Lube + Tires is the leading Canadian automotive service chain specializing in fast, drive-in drive-through, no-appointment-needed vehicle maintenance.