DRI Healthcare Trust (TSE:DHT.UN – Get Free Report)’s share price rose 38.8% during mid-day trading on Wednesday . The company traded as high as C$13.89 and last traded at C$13.82. Approximately 12,550 shares changed hands during trading, a decline of 71% from the average daily volume of 43,000 shares. The stock had previously closed at C$9.96.
Wall Street Analysts Forecast Growth
Several research firms have commented on DHT.UN. National Bankshares decreased their target price on shares of DRI Healthcare Trust from C$23.50 to C$17.50 and set an “outperform” rating on the stock in a report on Tuesday, July 9th. Stifel Nicolaus cut shares of DRI Healthcare Trust from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$22.00 to C$15.00 in a research note on Tuesday, July 9th. CIBC cut their target price on DRI Healthcare Trust from C$20.00 to C$18.50 in a research note on Tuesday, July 9th. Truist Financial decreased their price target on DRI Healthcare Trust from C$17.00 to C$14.00 in a research note on Thursday, July 25th. Finally, Scotiabank upped their price objective on DRI Healthcare Trust from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$18.25.
Get Our Latest Analysis on DHT.UN
DRI Healthcare Trust Stock Up 38.8 %
DRI Healthcare Trust Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 18th were paid a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Friday, September 27th. DRI Healthcare Trust’s payout ratio is -920.00%.
About DRI Healthcare Trust
DRI Healthcare Trust focuses on managing and growing a portfolio of pharmaceutical royalties. It owns a portfolio of 18 royalties derived from the sale of 14 various pharmaceutical products that focuses on eight therapeutic areas. The company was incorporated in 2020 and is headquartered in Toronto, Canada.
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