Freehold Royalties (TSE:FRU) Stock Passes Above 200 Day Moving Average – Here’s Why

Freehold Royalties Ltd. (TSE:FRU)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$16.36 and traded as high as C$17.67. Freehold Royalties shares last traded at C$17.31, with a volume of 383,612 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FRU. Royal Bank Of Canada boosted their price target on Freehold Royalties from C$17.00 to C$18.00 and gave the company a “sector perform” rating in a report on Monday, April 13th. Desjardins lowered their price target on Freehold Royalties from C$16.50 to C$16.00 and set a “hold” rating for the company in a report on Friday, March 13th. TD Securities lowered their price target on Freehold Royalties from C$22.00 to C$21.00 and set a “buy” rating for the company in a report on Thursday, March 12th. Finally, Raymond James Financial lowered Freehold Royalties from a “moderate buy” rating to a “hold” rating and boosted their price target for the company from C$17.50 to C$18.00 in a report on Monday, March 30th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Freehold Royalties currently has a consensus rating of “Hold” and an average price target of C$17.03.

Freehold Royalties Stock Performance

The business has a 50-day moving average price of C$17.38 and a 200-day moving average price of C$16.39. The firm has a market capitalization of C$2.86 billion, a price-to-earnings ratio of 32.31, a P/E/G ratio of -0.92 and a beta of 0.59. The company has a quick ratio of 1.50, a current ratio of 1.73 and a debt-to-equity ratio of 30.45.

Freehold Royalties (TSE:FRU) last issued its quarterly earnings results on Tuesday, May 12th. The company reported C$0.21 earnings per share (EPS) for the quarter. The business had revenue of C$77.82 million for the quarter. Freehold Royalties had a return on equity of 8.81% and a net margin of 29.84%. As a group, sell-side analysts forecast that Freehold Royalties Ltd. will post 0.7581169 earnings per share for the current year.

Freehold Royalties Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 15th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. Freehold Royalties’s dividend payout ratio is presently 200.00%.

Insider Activity

In other news, insider Colin Strem bought 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The shares were purchased at an average cost of C$17.37 per share, with a total value of C$69,480.00. Following the transaction, the insider directly owned 24,000 shares in the company, valued at approximately C$416,880. The trade was a 20.00% increase in their ownership of the stock. 0.45% of the stock is currently owned by insiders.

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.