Haywood Securities assumed coverage on shares of Diversified Royalty Corp (TSE:DIV) in a research note issued to investors on Thursday, AnalystRatingsNetwork.com reports. The firm set a “buy” rating and a C$3.00 price target on the stock. Haywood Securities’ price target points to a potential upside of 34.53% from the company’s current price.

Shares of Diversified Royalty Corp (TSE:DIV) opened at 2.23 on Thursday. The company has a market cap of $251.95 million and a P/E ratio of 28.23. Diversified Royalty Corp has a one year low of $2.00 and a one year high of $3.14. The company’s 50 day moving average is $2.31 and its 200 day moving average is $2.58.

The business also recently announced a monthly dividend, which will be paid on Friday, January 29th. Investors of record on Friday, January 29th will be given a dividend of $0.0185 per share. The ex-dividend date is Wednesday, January 13th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 9.96%. This is an increase from Diversified Royalty Corp’s previous monthly dividend of $0.02.

Diversified Royalty Corp, also known as DIV, is a Canada-based multi-royalty corporation for franchises. The Company is engaged in the business of acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America. Its aim is to acquire predictable royalty streams from a diverse group of multi-location businesses and franchisors. DIV cooperates with such brands like Original Joe’s, State & Main and Elephant & Castle.

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