Freehold Royalties Ltd (FRU) Reaches New 52-Week High After Dividend Announcement

Freehold Royalties Ltd (TSE:FRU) shares reached a new 52-week high on Monday following a dividend announcement from the company. The stock traded as high as C$15.47 and last traded at C$15.26, with a volume of 111,662 shares trading hands. The stock had previously closed at C$15.13.

The newly announced dividend which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 15th will be paid a $0.05 dividend. The ex-dividend date is Monday, October 30th. This represents a $0.60 dividend on an annualized basis and a yield of 3.89%.

A number of equities research analysts recently issued reports on FRU shares. Scotiabank lifted their price target on shares of Freehold Royalties from C$14.00 to C$15.00 and gave the company a “sector perform” rating in a research note on Thursday, August 10th. CIBC lifted their price target on shares of Freehold Royalties from C$16.50 to C$17.50 in a research note on Tuesday, October 17th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of C$17.19.

The firm has a market cap of $1.80 billion and a P/E ratio of 90.83. The stock has a 50 day moving average of $14.70 and a 200 day moving average of $13.82.

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Freehold Royalties Company Profile

Freehold Royalties Ltd. is a Canada-based company engaged in the development and production of oil and natural gas, predominantly in western Canada. The Company’s primary focus is acquiring and managing oil and natural gas royalties. The Company manages a non-government portfolio of oil and natural gas royalties in Canada.

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