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

Shares of Freehold Royalties Ltd. (TSE:FRU) reached a new 52-week low during mid-day trading 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 trading hands. The stock had previously closed at C$10.86.

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

Freehold Royalties Price Performance

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

Freehold Royalties Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 17th were issued a dividend of $0.09 per share. This represents a $1.08 dividend on an annualized basis and a yield of 9.95%. The ex-dividend date was Friday, February 28th. Freehold Royalties’s payout ratio 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.