Diversified Royalty (TSE:DIV) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened
by Tristan Rich · The Markets DailyShares of Diversified Royalty Corp. (TSE:DIV – Get Free Report) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$4.03 and traded as low as C$4.02. Diversified Royalty shares last traded at C$4.04, with a volume of 373,346 shares changing hands.
Wall Street Analysts Forecast Growth
Separately, Desjardins boosted their price objective on shares of Diversified Royalty from C$4.00 to C$4.50 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$4.03.
Get Our Latest Stock Report on DIV
Diversified Royalty Price Performance
The company has a debt-to-equity ratio of 101.11, a quick ratio of 1.74 and a current ratio of 0.79. The company has a 50-day moving average of C$4.03 and a 200-day moving average of C$3.78. The stock has a market capitalization of C$657.37 million, a price-to-earnings ratio of 22.65 and a beta of 1.11.
Diversified Royalty Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be issued a $0.0238 dividend. This represents a c) dividend on an annualized basis and a yield of 7.4%. The ex-dividend date is Friday, March 13th. Diversified Royalty’s dividend payout ratio is 151.95%.
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.