22:48:01 EST Sat 02 Mar 2024
Enter Symbol
or Name

Diversified Royalty Corp
Symbol DIV
Shares Issued 124,539,393
Close 2022-10-19 C$ 2.88
Market Cap C$ 358,673,452
Recent Sedar Documents

Globe says Diversified Royalty reaffirmed at "buy"

2022-10-19 07:13 ET - In the News

The Globe and Mail reports in its Wednesday, Oct. 19, edition that Canaccord Genuity analyst Matthew Lee has reaffirmed his "buy" recommendation for Diversified Royalty. The Globe's David Leeder writes in the Eye On Equities column that Mr. Lee gave his share target a 50-cent boost to $3.50. Analysts on average target the shares at $3.76. He says the company is "well positioned for growth as pandemic challenges subside." Mr. Lee says in a note: "In our view, DIV has managed well throughout COVID-19 and is now poised to build its royalty portfolio while continuing to return capital to shareholders and repay debt. As it stands, DIV s royalty portfolio is nearing a full recovery, with Mr. Mikes reaching pre-pandemic traffic and Mr. Lube generating double-digit y/y growth, far surpassing F19 same-store sales. Importantly, DIV s payout ratio has dropped below 100%, which has allowed management to raise its dividend in the quarter, indicating confidence in the firm s trajectory. While we see several opportunities for DIV to grow its portfolio, we expect the company to remain steadfast in its objective of acquiring high-quality royalty streams associated with growing, proven businesses."

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