Freehold Royalties (TSE:FRU) Downgraded to Hold at Atb Cap Markets

Atb Cap Markets downgraded shares of Freehold Royalties (TSE:FRU) from a strong-buy rating to a hold rating in a research note released on Tuesday morning, Zacks.com reports.

Separately, Scotiabank decreased their price objective on shares of Freehold Royalties from C$18.00 to C$17.00 in a report on Friday, July 12th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$17.45.

Freehold Royalties Stock Performance

Shares of TSE FRU opened at C$13.99 on Tuesday. The stock has a market capitalization of C$2.11 billion, a P/E ratio of 13.99, a P/E/G ratio of -0.92 and a beta of 1.93. Freehold Royalties has a 52-week low of C$12.66 and a 52-week high of C$15.06. 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 firm’s 50-day moving average price is C$13.73 and its two-hundred day moving average price is C$13.93.

Freehold Royalties (TSE:FRU) last posted its earnings results on Wednesday, July 31st. The company reported C$0.26 earnings per share (EPS) for the quarter. Freehold Royalties had a net margin of 46.41% and a return on equity of 16.17%. The firm had revenue of C$84.50 million during the quarter. As a group, sell-side analysts forecast that Freehold Royalties will post 0.7581169 earnings per share for the current year.

Freehold Royalties Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.09 per share. This represents a $1.08 annualized dividend and a dividend yield of 7.72%. The ex-dividend date of this dividend is Thursday, October 31st. Freehold Royalties’s dividend payout ratio is 108.00%.

About Freehold Royalties

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.