Diversified Royalty (TSE:DIV) Stock Passes Below 200-Day Moving Average – Time to Sell?

Diversified Royalty Corp. (TSE:DIV) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$2.91 and traded as low as C$2.75. Diversified Royalty shares last traded at C$2.78, with a volume of 328,664 shares changing hands.

Analyst Ratings Changes

Separately, Desjardins set a C$3.75 price objective on Diversified Royalty and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$3.88.

Diversified Royalty Price Performance

The company has a current ratio of 4.28, a quick ratio of 1.74 and a debt-to-equity ratio of 90.70. The stock has a market capitalization of C$417.36 million, a price-to-earnings ratio of 14.25 and a beta of 1.57. The company’s 50 day moving average is C$2.81 and its 200 day moving average is C$2.91.

Diversified Royalty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be given a $0.0208 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 9.14%. The ex-dividend date is Friday, March 14th. Diversified Royalty’s dividend payout ratio is presently 130.49%.

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.