Freehold Royalties (TSE:FRU) Sets New 1-Year Low Following Analyst Downgrade

Freehold Royalties Ltd. (TSE:FRU)’s share price reached a new 52-week low on Thursday after CIBC lowered their price target on the stock from C$16.00 to C$15.00. The stock 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.

FRU has been the subject of several other research reports. Raymond James dropped their price target on shares of Freehold Royalties from C$16.00 to C$14.00 in a research note on Wednesday. Scotiabank raised Freehold Royalties to a “hold” rating in a research note on Wednesday, March 19th. BMO Capital Markets upgraded Freehold Royalties from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. National Bankshares lifted their price objective on Freehold Royalties from C$15.50 to C$16.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Desjardins boosted 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. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$16.43.

Freehold Royalties Stock Performance

The stock has a market cap of C$1.68 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of -0.92 and a beta of 1.93. The stock has a fifty day moving average of C$12.41 and a 200-day moving average of C$13.15. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 22.91.

Freehold Royalties Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 17th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 9.66%. Freehold Royalties’s dividend payout ratio (DPR) is currently 122.40%.

About Freehold Royalties

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.