Brokerages Set Freehold Royalties Ltd. (TSE:FRU) Price Target at C$17.00

Freehold Royalties Ltd. (TSE:FRU) has received an average recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$17.00.

A number of research analysts have commented on the company. Desjardins increased their price objective on Freehold Royalties from C$16.50 to C$17.00 and gave the company a “buy” rating in a research report on Friday, March 14th. BMO Capital Markets upgraded Freehold Royalties from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. National Bankshares boosted their price objective on Freehold Royalties from C$15.50 to C$16.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. CIBC set a C$16.00 target price on shares of Freehold Royalties and gave the company a “neutral” rating in a research note on Monday, December 16th. Finally, Scotiabank raised shares of Freehold Royalties to a “hold” rating in a report on Wednesday, March 19th.

Freehold Royalties Stock Performance

Shares of Freehold Royalties stock opened at C$12.85 on Monday. The company has a debt-to-equity ratio of 22.91, a current ratio of 1.65 and a quick ratio of 1.50. The firm has a 50 day simple moving average of C$12.66 and a 200 day simple moving average of C$13.28. Freehold Royalties has a fifty-two week low of C$11.80 and a fifty-two week high of C$14.84. The firm has a market cap of C$1.93 billion, a P/E ratio of 14.56, a P/E/G ratio of -0.92 and a beta of 1.93.

Freehold Royalties Announces Dividend

The company 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. This represents a $1.08 annualized dividend and a yield of 8.40%. The ex-dividend date was Friday, February 28th. Freehold Royalties’s payout ratio is presently 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.