Freehold Royalties Ltd. (TSE: FRU) Receives Average “Moderate Buy” Rating from Brokerages

Freehold Royalties Ltd. (TSE:FRU – Get Rating) has earned an average recommendation of “moderate buy” from the fourteen analysts who currently cover the company, Marketbeat reports. One equity research analyst rated the stock with a hold recommendation and eight issued a buy recommendation on the company. The 12-month average price target among brokers who have quoted the stock over the past year is C$18.75.

The FRU has been the subject of several research reports. Canaccord Genuity Group has set a price target of C$19.50 on shares of Freehold Royalties and assigned the stock a “buy” rating in a Thursday, August 25 research note. Haywood Securities lowered its price target on Freehold Royalties shares from C$25.00 to C$23.00 and set an “outperform” rating on the stock in a Wednesday, July 27 report. Raymond James raised his price target on shares of Freehold Royalties from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a Tuesday, July 5 report. ATB Capital lowered its price target on shares of Freehold Royalties from CA$20.00 to CA$19.50 in a Wednesday, August 10, report. Finally, National Bankshares lowered its price target on Freehold Royalties shares from CA$20.00 to CA$19.00 in a report on Friday, September 30.

Insider Buying and Selling at Freehold Royalties

In other Freehold Royalties news, Senior Officer David Warren Hendry purchased 5,000 shares of Freehold Royalties in a trade dated Friday, September 23. The shares were acquired at an average cost of CA$13.45 per share, for a total transaction of CA$67,250.00. Following the completion of the transaction, the insider now directly owns 30,000 shares of the company, valued at C$403,500.

Freehold royalty stock down 2.5%

TSE:FRU opened at C$15.89 on Friday. The company has a market capitalization of C$2.39 billion and a P/E ratio of 14.58. Freehold Royalties has a 1 year low of C$10.03 and a 1 year high of C$17.00. The company’s 50-day moving average price is CA$14.62 and its 200-day moving average price is CA$14.48. The company has a debt ratio of 9.46, a current ratio of 2.54 and a quick ratio of 2.11.

Freehold royalties increase the dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, November 15. Shareholders of record on Tuesday, November 15 will receive a dividend of $0.09 per share. This represents an annualized dividend of $1.08 and a yield of 6.80%. This is an increase from Freehold Royalties’ previous monthly dividend of $0.08. The ex-dividend date is Friday, October 28. Freehold Royalties’ dividend payout ratio (DPR) is currently 68.81%.

About Freehold Royalties

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Freehold Royalties Ltd., an oil and gas royalty company, has working interests in oil, natural gas, natural gas liquids and potash properties in Western Canada and the United States. The company owns approximately 6.2 million gross acres of land in Canada and 0.8 million gross acres of drilling units in the United States.

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Analyst recommendations for full ownership royalties (TSE: FRU)

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