Diversified Royalty (TSE:DIV) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

Diversified Royalty Corp. (TSE:DIV)’s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$2.91 and traded as low as C$2.76. Diversified Royalty shares last traded at C$2.80, with a volume of 167,652 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on DIV shares. CIBC lifted their price objective on Diversified Royalty from C$3.00 to C$3.10 and gave the company a “neutral” rating in a report on Tuesday, March 25th. Desjardins set a C$3.75 price target on shares of Diversified Royalty and gave the company a “buy” rating in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$3.62.

Diversified Royalty Trading Down 3.2 %

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 stock has a market cap of C$414.30 million, a P/E ratio of 14.15 and a beta of 1.57. The company has a 50-day simple moving average of C$2.80 and a 200-day simple moving average of C$2.91.

Diversified Royalty Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were issued a $0.0208 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 9.21%. Diversified Royalty’s dividend payout ratio is 130.49%.

About Diversified Royalty

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.