Freehold Royalties Ltd. (TSE:FRU) Announces Monthly Dividend of $0.09

Freehold Royalties Ltd. (TSE:FRU) declared a monthly dividend on Tuesday, December 31st,TickerTech Dividends reports. Shareholders of record on Wednesday, January 15th will be given a dividend of 0.09 per share on Wednesday, January 15th. This represents a $1.08 dividend on an annualized basis and a yield of 8.52%. The ex-dividend date is Tuesday, December 31st.

Freehold Royalties Price Performance

FRU opened at C$12.68 on Friday. The company has a debt-to-equity ratio of 24.83, a current ratio of 2.05 and a quick ratio of 1.50. The company has a market capitalization of C$1.91 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of -0.92 and a beta of 1.93. The firm’s fifty day moving average price is C$13.60 and its two-hundred day moving average price is C$13.73. Freehold Royalties has a 1 year low of C$12.19 and a 1 year high of C$14.84.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FRU. BMO Capital Markets raised shares of Freehold Royalties from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Atb Cap Markets downgraded shares of Freehold Royalties from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 15th. Raymond James raised shares of Freehold Royalties to a “hold” rating in a report on Thursday, October 17th. CIBC set a C$16.00 price objective on Freehold Royalties and gave the company a “neutral” rating in a research note on Monday, December 16th. Finally, Canaccord Genuity Group lowered their price objective on Freehold Royalties from C$19.00 to C$18.00 in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$17.28.

About Freehold Royalties

Freehold Royalties Ltd. engages in the acquiring and managing royalty interests in the crude oil, natural gas, natural gas liquids, and potash properties in Western Canada and the United States. Freehold Royalties Ltd. was founded in 1996 and is headquartered in Calgary, Canada.