Diversified Royalty (TSE:DIV) Stock Passes Below 200 Day Moving Average – Here’s Why

Diversified Royalty Corp. (TSE:DIV) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$2.91 and traded as low as C$2.75. Diversified Royalty shares last traded at C$2.78, with a volume of 328,664 shares.

Wall Street Analyst Weigh In

Separately, Desjardins set a C$3.75 price objective on Diversified Royalty and gave the stock a “buy” rating in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Diversified Royalty has an average rating of “Moderate Buy” and an average target price of C$3.88.

Diversified Royalty Stock Performance

The company has a debt-to-equity ratio of 90.70, a quick ratio of 1.74 and a current ratio of 4.28. The company has a 50 day moving average price of C$2.81 and a 200 day moving average price of C$2.91. The company has a market capitalization of C$417.36 million, a PE ratio of 14.25 and a beta of 1.57.

Diversified Royalty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be issued a $0.0208 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 9.14%. Diversified Royalty’s dividend payout ratio (DPR) is 130.49%.

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.