Diversified Royalty (TSE:DIV) Releases Earnings Results

Diversified Royalty (TSE:DIV) released its quarterly earnings data on Wednesday. The company reported C$0.02 earnings per share for the quarter, FiscalAI reports. Diversified Royalty had a net margin of 49.91% and a return on equity of 12.54%. The firm had revenue of C$19.48 million for the quarter.

Diversified Royalty Stock Up 1.1%

DIV stock opened at C$4.62 on Thursday. The stock has a market cap of C$864.16 million, a P/E ratio of 23.10 and a beta of 1.11. The company has a current ratio of 2.84, a quick ratio of 1.74 and a debt-to-equity ratio of 103.05. The stock’s fifty day simple moving average is C$4.66 and its two-hundred day simple moving average is C$4.39. Diversified Royalty has a 1-year low of C$3.37 and a 1-year high of C$4.98.

Diversified Royalty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 31st will be issued a dividend of $0.0238 per share. This represents a c) dividend on an annualized basis and a yield of 6.2%. The ex-dividend date is Friday, August 14th. Diversified Royalty’s dividend payout ratio (DPR) is 137.50%.

Insider Buying and Selling at Diversified Royalty

In other news, Director Johnny Ciampi sold 147,004 shares of Diversified Royalty stock in a transaction on Monday, June 8th. The stock was sold at an average price of C$4.77, for a total transaction of C$701,209.08. Following the sale, the director directly owned 12,767 shares in the company, valued at C$60,898.59. The trade was a 92.01% decrease in their position. Also, insider Greg Gutmanis sold 30,000 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of C$4.85, for a total transaction of C$145,500.00. Following the completion of the transaction, the insider directly owned 204,185 shares in the company, valued at C$990,297.25. This trade represents a 12.81% decrease in their ownership of the stock. Over the last ninety days, insiders have sold 330,000 shares of company stock valued at $1,576,500. Insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DIV. ATB Cormark Capital Markets lowered their price objective on Diversified Royalty from C$7.50 to C$7.25 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Desjardins lifted their price objective on shares of Diversified Royalty from C$4.75 to C$5.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Raymond James Financial upped their target price on shares of Diversified Royalty from C$4.70 to C$5.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Finally, Canaccord Genuity Group increased their target price on shares of Diversified Royalty from C$4.75 to C$5.50 and gave the company a “buy” rating in a report on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of C$5.35.

Diversified Royalty Company Profile

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.