Freehold Royalties (TSE:FRU) Hits New 1-Year High After Dividend Announcement

Freehold Royalties Ltd. (TSE:FRU) shares hit a new 52-week high during trading on Monday after the company announced a dividend. The stock traded as high as C$18.22 and last traded at C$17.69, with a volume of 434747 shares trading hands. The stock had previously closed at C$17.59.

The newly announced dividend which will be paid on Monday, March 16th. Investors of record on Monday, March 16th will be issued a dividend of $0.09 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Friday, February 27th. Freehold Royalties’s dividend payout ratio (DPR) is presently 135.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FRU shares. Raymond James Financial raised shares of Freehold Royalties from a “hold” rating to a “moderate buy” rating and upped their target price for the stock from C$14.50 to C$17.50 in a research note on Tuesday, December 9th. Canadian Imperial Bank of Commerce upped their price objective on Freehold Royalties from C$14.50 to C$15.25 in a research report on Friday, November 14th. Canaccord Genuity Group lifted their target price on Freehold Royalties from C$16.00 to C$17.00 in a research report on Friday, November 14th. National Bank Financial cut Freehold Royalties from an “outperform” rating to a “hold” rating and set a C$15.00 target price on the stock. in a research note on Friday, January 9th. Finally, Scotiabank raised their price target on shares of Freehold Royalties from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$15.79.

Freehold Royalties Trading Up 0.6%

The company has a debt-to-equity ratio of 22.91, a quick ratio of 1.50 and a current ratio of 1.65. The firm has a fifty day moving average price of C$16.11 and a 200 day moving average price of C$14.80. The company has a market cap of C$2.90 billion, a price-to-earnings ratio of 22.11, a P/E/G ratio of -0.92 and a beta of 0.68.

About Freehold Royalties

Freehold Royalties Ltd is in acquiring and managing Oil and Gas royalties. It operates in two segments: Canada, which includes exploration and evaluation assets and the petroleum and natural gas interests in Western Canada; and the United States, which includes petroleum and natural gas interests held in the Permian (Midland and Delaware), Eagle Ford, Haynesville and Bakken basins primarily located in the states of Texas, Louisiana, and North Dakota. The majority of its revenue is generated from Canada Segment.