Key Points
- Director Johnny Ciampi purchased 100,000 shares of Diversified Royalty at an average C$3.99 per share, investing C$399,000 and increasing his position by 783.27% to 112,767 shares. This followed the sale of 300,000 shares in June at C$4.77 per share.
- Diversified Royalty reported quarterly earnings of C$0.02 per share on C$19.48 million in revenue and announced a monthly dividend of C$0.0238 per share, representing an approximately 7.0% annualized yield.
- Analysts maintained a generally positive outlook, with four Buy ratings and a consensus price target of C$5.25, despite recent target revisions and the stock trading around C$4.07.
Diversified Royalty Corp. (TSE:DIV - Get Free Report) insider Sean Morrison acquired 12,626 shares of the 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 completion of the purchase, the insider directly owned 771,648 shares in the company, valued at approximately C$3,102,024.96. The trade was a 1.66% increase in their ownership of the stock.
Diversified Royalty Stock Performance
TSE DIV opened at C$4.07 on Thursday. The business's 50 day moving average price is C$4.60 and its 200-day moving average price is C$4.39. Diversified Royalty Corp. has a fifty-two week low of C$3.37 and a fifty-two week high of C$4.98. The company has a market cap of C$761.29 million, a P/E ratio of 23.94 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 - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported C$0.02 EPS for the quarter. Diversified Royalty had a net margin of 39.72% and a return on equity of 10.39%. The company had revenue of C$19.48 million during the quarter. Sell-side analysts predict that Diversified Royalty Corp. will post 0.2 earnings per share for the current year.
Diversified Royalty Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 31st will be given a $0.0238 dividend. This represents a c) dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Friday, August 14th. Diversified Royalty's dividend payout ratio is 165.69%.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Raymond James Financial increased their price target on Diversified Royalty from C$4.70 to C$5.00 and gave the stock an "outperform" rating in a report on Thursday, July 9th. Canaccord Genuity Group boosted 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. ATB Cormark Capital Markets reduced their target price on Diversified Royalty from C$7.25 to C$7.00 and set an "outperform" rating on the stock in a research note on Friday, August 14th. Finally, 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 research report on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of C$5.25.
Get Our Latest Stock Report on Diversified Royalty
About Diversified Royalty
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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.
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