Royalty Pharma plc (RPRX) to Issue Quarterly Dividend of $0.22 on March 10th

Royalty Pharma plc (NASDAQ:RPRX) declared a quarterly dividend on Friday, January 10th,Wall Street Journal reports. Investors of record on Friday, February 21st will be given a dividend of 0.22 per share by the biopharmaceutical company on Monday, March 10th. This represents a $0.88 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.21.

Royalty Pharma has increased its dividend payment by an average of 7.3% per year over the last three years. Royalty Pharma has a dividend payout ratio of 17.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Royalty Pharma to earn $4.31 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 19.5%.

Royalty Pharma Price Performance

Shares of RPRX stock opened at $29.49 on Friday. The company has a market capitalization of $17.38 billion, a P/E ratio of 15.28, a P/E/G ratio of 4.36 and a beta of 0.47. The company’s 50-day simple moving average is $25.94 and its two-hundred day simple moving average is $27.04. Royalty Pharma has a one year low of $24.05 and a one year high of $31.66. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RPRX shares. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. TD Cowen upgraded Royalty Pharma to a “strong-buy” rating in a report on Tuesday, December 24th. Finally, Citigroup dropped their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $41.67.

Royalty Pharma Company Profile

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.