Diversified Royalty (TSE:DIV) Issues Earnings Results

Diversified Royalty (TSE:DIV) posted its quarterly earnings data on Saturday. The company reported C$0.03 EPS for the quarter, FiscalAI reports. The firm had revenue of C$31.53 million for the quarter. Diversified Royalty had a return on equity of 10.39% and a net margin of 39.72%.

Diversified Royalty Stock Performance

Shares of DIV opened at C$4.07 on Monday. 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 has a 52-week low of C$3.43 and a 52-week high of C$4.98. The firm has a market cap of C$768.24 million, a price-to-earnings ratio of 23.94 and a beta of 0.90. The business’s fifty day moving average is C$4.08 and its 200-day moving average is C$4.28.

Diversified Royalty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 30th will be issued a $0.0238 dividend. This represents a $0.29 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend is Friday, November 13th. Diversified Royalty’s dividend payout ratio (DPR) is currently 165.69%.

Analyst Ratings Changes

Several analysts have recently issued reports on DIV shares. Desjardins reduced their target price on Diversified Royalty from C$5.00 to C$4.75 and set a “buy” rating on the stock in a report on Friday, August 14th. ATB Cormark Capital Markets dropped their price target on Diversified Royalty from C$7.25 to C$7.00 and set an “outperform” rating for the company in a research note on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$5.25.

Insider Activity

In related news, Director Johnny Ciampi bought 100,000 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was purchased at an average price of C$3.99 per share, with a total value of C$399,000.00. Following the completion of the acquisition, the director owned 112,767 shares of the company’s stock, valued at C$449,940.33. The trade was a 783.27% increase in their ownership of the stock. Also, insider Sean Morrison purchased 12,626 shares of Diversified Royalty stock in a transaction dated Friday, August 14th. The stock was bought at an average price of C$4.02 per share, for a total transaction of C$50,756.52. Following the completion of the purchase, the insider owned 771,648 shares in the company, valued at C$3,102,024.96. This represents a 1.66% increase in their position. Company insiders own 0.52% of the company’s stock.

Diversified Royalty Company Profile

DIV is a multi-royalty corporation, engaged in the business of acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America. DIV’s objective is to acquire predictable, growing royalty streams from a diverse group of multi-location businesses and franchisors. DIV, through its subsidiary, Mr. Lube Canada Ltd., also operates the Mr. Lube + Tires franchisor business in Canada. Mr. Lube + Tires is the leading Canadian automotive service chain specializing in fast, drive-in drive-through, no-appointment-needed vehicle maintenance.