Freehold Royalties (TSE:FRU) Stock Price Down 3.6% – What’s Next?

Freehold Royalties Ltd. (TSE:FRU) dropped 3.6% during mid-day trading on Tuesday . The stock traded as low as C$13.04 and last traded at C$13.16. Approximately 3,532,615 shares traded hands during mid-day trading, an increase of 665% from the average daily volume of 461,979 shares. The stock had previously closed at C$13.65.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FRU. Canaccord Genuity Group cut their price objective on shares of Freehold Royalties from C$19.00 to C$18.00 in a research report on Tuesday, October 22nd. Atb Cap Markets lowered Freehold Royalties from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Finally, Raymond James raised Freehold Royalties to a “hold” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$17.35.

Freehold Royalties Price Performance

The company has a quick ratio of 1.50, a current ratio of 2.05 and a debt-to-equity ratio of 24.83. The company’s 50-day moving average is C$13.95 and its 200-day moving average is C$13.80. The stock has a market cap of C$1.98 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of -0.92 and a beta of 1.93.

Freehold Royalties Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, November 29th. This represents a $1.08 annualized dividend and a dividend yield of 8.21%. Freehold Royalties’s dividend payout ratio (DPR) is presently 108.00%.

Freehold Royalties Company Profile

Freehold Royalties Ltd. engages in the acquiring and managing royalty interests in the crude oil, natural gas, natural gas liquids, and potash properties in Western Canada and the United States. Freehold Royalties Ltd. was founded in 1996 and is headquartered in Calgary, Canada.