Diversified Royalty (TSE:DIV) Posts Quarterly Earnings Results

Diversified Royalty (TSE:DIV) released its earnings results on Wednesday. The company reported C$0.02 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$19.48 million for the quarter. Diversified Royalty had a net margin of 49.91% and a return on equity of 12.54%.

Diversified Royalty Stock Performance

Shares of DIV opened at C$4.08 on Friday. The business’s 50 day moving average is C$4.65 and its two-hundred day moving average is C$4.39. Diversified Royalty has a 52-week low of C$3.37 and a 52-week high of C$4.98. The firm has a market cap of C$763.16 million, a price-to-earnings ratio of 20.40 and a beta of 1.11. The company has a quick ratio of 1.74, a current ratio of 2.84 and a debt-to-equity ratio of 103.05.

Diversified Royalty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 31st will be issued a dividend of $0.0238 per share. The ex-dividend date is Friday, August 14th. This represents a c) annualized dividend and a yield of 7.0%. Diversified Royalty’s payout ratio is currently 137.50%.

Analysts Set New Price Targets

A number of research analysts have weighed in on DIV shares. Raymond James Financial increased their price target on Diversified Royalty from C$4.70 to C$5.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. ATB Cormark Capital Markets dropped their target price on Diversified Royalty from C$7.50 to C$7.25 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Canaccord Genuity Group increased their price objective on shares of Diversified Royalty from C$4.75 to C$5.50 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Finally, Desjardins lifted their price objective on shares of Diversified Royalty from C$4.75 to C$5.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$5.35.

Insider Buying and Selling

In other news, Director Johnny Ciampi sold 147,004 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of C$4.77, for a total transaction of C$701,209.08. Following the completion of the sale, the director owned 12,767 shares of the company’s stock, valued at approximately C$60,898.59. This trade represents a 92.01% decrease in their ownership of the stock. Also, insider Greg Gutmanis sold 30,000 shares of Diversified Royalty stock in a transaction on Friday, May 29th. The stock was sold at an average price of C$4.85, for a total transaction of C$145,500.00. Following the completion of the sale, the insider owned 204,185 shares of the company’s stock, valued at approximately C$990,297.25. This trade represents a 12.81% decrease in their position. Insiders have sold 330,000 shares of company stock valued at $1,576,500 in the last three months. Corporate insiders own 0.52% of the company’s stock.

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. All of the company’s operating revenues are earned from the receipt of royalties and management fees from its Royalty Partners.