Freehold Royalties (TSE:FRU) Reaches New 52-Week Low – What’s Next?

Freehold Royalties Ltd. (TSE:FRU) shares reached a new 52-week low during trading on Friday . The stock traded as low as C$11.46 and last traded at C$11.46, with a volume of 359622 shares. The stock had previously closed at C$12.29.

Analysts Set New Price Targets

Several brokerages recently commented on FRU. Scotiabank raised shares of Freehold Royalties to a “hold” rating in a research note on Wednesday, March 19th. National Bankshares raised their price target on shares of Freehold Royalties from C$15.50 to C$16.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Desjardins upped their price target on shares of Freehold Royalties from C$16.50 to C$17.00 and gave the stock a “buy” rating in a report on Friday, March 14th. 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, BMO Capital Markets upgraded Freehold Royalties from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Freehold Royalties currently has an average rating of “Moderate Buy” and an average target price of C$17.00.

Freehold Royalties Stock Performance

The company has a market capitalization of C$1.73 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of -0.92 and a beta of 1.93. The company’s 50 day moving average is C$12.64 and its 200-day moving average is C$13.25. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 22.91.

Freehold Royalties Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 17th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 9.36%. Freehold Royalties’s payout ratio is 122.40%.

About Freehold Royalties

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.