FirstService (FSV) Declares $0.22 Dividend
FirstService said on May 9, 2023 that its board of directors declared a regular quarterly dividend of $0.22 per share ($0.90 annualized). Previously, the company paid $0.22 per share.
Shares must be purchased before the ex-div date of June 29, 2023 to qualify for the dividend. Shareholders of record as of June 30, 2023 will receive the payment on July 7, 2023.
At the current share price of $145.11 / share, the stock's dividend yield is 0.62%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.81%, the lowest has been 0.45%, and the highest has been 1.53%. The standard deviation of yields is 0.24 (n=236).
The current dividend yield is 0.81 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.33. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 398 funds or institutions reporting positions in FirstService. This is an increase of 34 owner(s) or 9.34% in the last quarter. Average portfolio weight of all funds dedicated to FSV is 0.42%, a decrease of 4.43%. Total shares owned by institutions increased in the last three months by 0.38% to 37,781K shares. 
The put/call ratio of FSV is 2.86, indicating a bearish outlook.
Analyst Price Forecast Suggests 20.10% Downside
As of May 11, 2023, the average one-year price target for FirstService is 115.94. The forecasts range from a low of 105.62 to a high of $129.41. The average price target represents a decrease of 20.10% from its latest reported closing price of 145.11.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for FirstService is 4,014MM. The projected annual non-GAAP EPS is 4.78.
What are Other Shareholders Doing?
Durable Capital Partners holds 3,994K shares representing 8.97% ownership of the company. In it's prior filing, the firm reported owning 3,908K shares, representing an increase of 2.15%. The firm decreased its portfolio allocation in FSV by 0.47% over the last quarter.
Manufacturers Life Insurance Company, The holds 3,899K shares representing 8.75% ownership of the company. In it's prior filing, the firm reported owning 4,022K shares, representing a decrease of 3.17%. The firm decreased its portfolio allocation in FSV by 99.91% over the last quarter.
T. Rowe Price Investment Management holds 2,627K shares representing 5.90% ownership of the company. In it's prior filing, the firm reported owning 2,565K shares, representing an increase of 2.35%. The firm increased its portfolio allocation in FSV by 1.28% over the last quarter.
Mackenzie Financial holds 1,997K shares representing 4.48% ownership of the company. In it's prior filing, the firm reported owning 1,864K shares, representing an increase of 6.67%. The firm increased its portfolio allocation in FSV by 14.19% over the last quarter.
Neuberger Berman Group holds 1,671K shares representing 3.75% ownership of the company. In it's prior filing, the firm reported owning 1,561K shares, representing an increase of 6.58%. The firm increased its portfolio allocation in FSV by 3.50% over the last quarter.
FirstService Background Information
(This description is provided by the company.)
FirstService Corporation is a Canadian public real estate services company, specializing in residential property services, and based in Toronto, Ontario.
This story originally appeared on Fintel.