Royalty Pharma plc (NASDAQ:RPRX) Declares Quarterly Dividend of $0.22

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

Royalty Pharma has raised its dividend by an average of 7.3% annually over the last three years. Royalty Pharma has a dividend payout ratio of 17.4% meaning 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 Trading Up 12.6 %

Shares of NASDAQ:RPRX opened at $29.49 on Friday. The business’s 50-day moving average is $25.94 and its 200 day moving average is $27.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54. Royalty Pharma has a 1 year low of $24.05 and a 1 year high of $31.66. The firm 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.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RPRX. Citigroup decreased their price objective on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th. TD Cowen upgraded shares of Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th. Finally, StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $41.67.

About Royalty Pharma

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.