Raymond James reissued their market perform rating on shares of Freehold Royalties (TSE:FRU) in a research note published on Friday, BayStreet.CA reports. Raymond James currently has a C$9.00 price objective on the stock.
FRU has been the subject of a number of other research reports. Royal Bank of Canada dropped their price objective on shares of Freehold Royalties from C$14.00 to C$13.00 in a report on Thursday, July 18th. CIBC dropped their price objective on shares of Freehold Royalties from C$11.00 to C$9.50 in a report on Thursday, July 18th. TD Securities raised their price objective on shares of Freehold Royalties from C$14.00 to C$14.50 and gave the company a buy rating in a report on Friday. Eight Capital raised their price objective on shares of Freehold Royalties from C$11.50 to C$11.65 in a report on Friday. Finally, Canaccord Genuity raised their price objective on shares of Freehold Royalties from C$11.50 to C$12.00 in a report on Tuesday, April 9th.
Shares of TSE FRU opened at C$8.10 on Friday. The firm has a 50 day simple moving average of C$8.26. The company has a market cap of $959.51 million and a price-to-earnings ratio of 405.00. Freehold Royalties has a 1 year low of C$7.66 and a 1 year high of C$12.35. The company has a current ratio of 1.90, a quick ratio of 1.77 and a debt-to-equity ratio of 12.00.
The company also recently declared a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.0525 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.63 annualized dividend and a yield of 7.78%. Freehold Royalties’s payout ratio is 2,625.00%.
Freehold Royalties Company Profile
Freehold Royalties Ltd., an oil and gas royalty company, owns working interests in oil, natural gas, and potash properties in Western Canada. It holds approximately 6.2 million gross acres of land from northeastern British Columbia to southern Ontario. It has interests in approximately 43,000 wells and receives royalty from 300 industry operators.
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