Key Points
- Insider sale: Diversified Royalty insider Greg Gutmanis sold 30,000 shares at an average price of C$4.85, reducing his holdings by 12.81% to 204,185 shares.
- Stock performance and valuation: The shares were trading down 2.0% at C$4.80, near their 1-year high of C$4.93, with the company carrying a market cap of about C$822 million.
- Dividend and analyst sentiment: The company paid a monthly dividend of C$0.0238 per share, implying a 6.0% yield, while analysts currently hold a consensus rating of Moderate Buy with a target price of C$4.89.
Diversified Royalty Corp. (TSE:DIV - Get Free Report) insider Greg Gutmanis sold 30,000 shares of the company's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of C$4.85, for a total value of C$145,500.00. Following the transaction, the insider directly owned 204,185 shares in the company, valued at C$990,297.25. This represents a 12.81% decrease in their ownership of the stock.
Diversified Royalty Trading Down 2.0%
Shares of TSE:DIV opened at C$4.80 on Tuesday. The business's 50-day moving average is C$4.35 and its 200 day moving average is C$4.05. Diversified Royalty Corp. has a 1 year low of C$2.87 and a 1 year high of C$4.93. The firm has a market capitalization of C$822.09 million, a P/E ratio of 24.00 and a beta of 1.07. The company has a debt-to-equity ratio of 103.05, a current ratio of 2.84 and a quick ratio of 1.74.
Diversified Royalty (TSE:DIV - Get Free Report) last announced its earnings results on Thursday, May 14th. The company reported C$0.04 earnings per share (EPS) for the quarter. The company had revenue of C$18.80 million for the quarter. Diversified Royalty had a return on equity of 12.54% and a net margin of 49.91%. On average, research analysts predict that Diversified Royalty Corp. will post 0.2 earnings per share for the current fiscal year.
Diversified Royalty Announces Dividend
The company also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 29th were issued a $0.0238 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. Diversified Royalty's dividend payout ratio is currently 137.51%.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the company. Raymond James Financial increased their price objective on Diversified Royalty from C$4.25 to C$4.70 and gave the company an "outperform" rating in a report on Wednesday, May 20th. Desjardins increased their price objective on Diversified Royalty from C$4.50 to C$4.75 and gave the company a "buy" rating in a report on Tuesday, May 19th. Canaccord Genuity Group increased their price objective on Diversified Royalty from C$4.75 to C$5.50 and gave the company a "buy" rating in a report on Wednesday, May 20th. Finally, ATB Cormark Capital Markets increased their price objective on Diversified Royalty from C$5.00 to C$5.50 and gave the company an "outperform" rating in a report on Thursday, May 21st. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$4.89.
Read Our Latest Research Report on Diversified Royalty
Diversified Royalty Company Profile
(
Get Free Report)
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.
Further Reading
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