Freehold Royalties (TSE:FRU) Reaches New 52-Week Low After Analyst Downgrade

Freehold Royalties Ltd. (TSE:FRU) reached a new 52-week low during trading on Thursday after CIBC lowered their price target on the stock from C$16.00 to C$15.00. The company traded as low as C$10.53 and last traded at C$11.81, with a volume of 1112718 shares changing hands. The stock had previously closed at C$10.86.

Other research analysts have also issued research reports about the stock. Scotiabank upgraded shares of Freehold Royalties to a “hold” rating in a research note on Wednesday, March 19th. BMO Capital Markets raised Freehold Royalties from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. National Bankshares upped their price target on shares of Freehold Royalties from C$15.50 to C$16.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Desjardins upped their price objective on Freehold Royalties from C$16.50 to C$17.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Finally, Raymond James lowered their target price on shares of Freehold Royalties from C$16.00 to C$14.00 in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Freehold Royalties presently has a consensus rating of “Moderate Buy” and an average target price of C$16.43.

Freehold Royalties Price Performance

The firm has a market capitalization of C$1.63 billion, a price-to-earnings ratio of 12.30, a PEG ratio of -0.92 and a beta of 1.93. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 22.91. The stock’s 50-day moving average price is C$12.44 and its 200 day moving average price is C$13.16.

Freehold Royalties Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 17th were issued a $0.09 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 9.95%. Freehold Royalties’s dividend payout ratio is presently 122.40%.

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.