Freehold Royalties (TSE:FRU) Announces Quarterly Earnings Results

Freehold Royalties (TSE:FRU) posted its earnings results on Tuesday. The company reported C$0.21 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$77.82 million for the quarter. Freehold Royalties had a net margin of 29.28% and a return on equity of 8.82%.

Freehold Royalties Trading Up 1.1%

Shares of TSE:FRU traded up C$0.20 during mid-day trading on Tuesday, reaching C$17.75. The stock had a trading volume of 666,713 shares, compared to its average volume of 766,973. Freehold Royalties has a twelve month low of C$11.98 and a twelve month high of C$18.22. The company has a current ratio of 1.41, a quick ratio of 1.50 and a debt-to-equity ratio of 28.51. The firm has a market cap of C$2.91 billion, a PE ratio of 31.70, a price-to-earnings-growth ratio of -0.92 and a beta of 0.59. The firm has a 50 day simple moving average of C$17.38 and a two-hundred day simple moving average of C$16.11.

Freehold Royalties Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 15th will be given a dividend of $0.09 per share. This represents a c) annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Thursday, April 30th. Freehold Royalties’s payout ratio is presently 192.86%.

Insider Activity

In other news, insider Colin Strem acquired 4,000 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was acquired at an average price of C$17.37 per share, for a total transaction of C$69,480.00. Following the transaction, the insider directly owned 24,000 shares in the company, valued at approximately C$416,880. This represents a 20.00% increase in their ownership of the stock. 0.45% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FRU has been the topic of a number of recent analyst reports. Scotiabank boosted their price objective on Freehold Royalties from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 20th. Royal Bank Of Canada boosted their price objective on shares of Freehold Royalties from C$17.00 to C$18.00 and gave the stock a “sector perform” rating in a research report on Monday, April 13th. Desjardins cut their price target on Freehold Royalties from C$16.50 to C$16.00 and set a “hold” rating on the stock in a research note on Friday, March 13th. TD Securities decreased their price target on Freehold Royalties from C$22.00 to C$21.00 and set a “buy” rating on the stock in a report on Thursday, March 12th. Finally, Raymond James Financial cut Freehold Royalties from a “moderate buy” rating to a “hold” rating and boosted their price objective for the stock from C$17.50 to C$18.00 in a report on Monday, March 30th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$17.03.

Freehold Royalties Company Profile

Freehold Royalties Ltd is in acquiring and managing Oil and Gas royalties. It operates in two segments: Canada, which includes exploration and evaluation assets and the petroleum and natural gas interests in Western Canada; and the United States, which includes petroleum and natural gas interests held in the Permian (Midland and Delaware), Eagle Ford, Haynesville and Bakken basins primarily located in the states of Texas, Louisiana, and North Dakota. The majority of its revenue is generated from Canada Segment.