DRI Healthcare Trust (TSE:DHT.UN) Receives C$18.50 Average Price Target from Analysts

Shares of DRI Healthcare Trust (TSE:DHT.UN) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$18.50.

DHT.UN has been the topic of several research reports. Truist Financial cut their price objective on DRI Healthcare Trust from C$17.00 to C$14.00 in a research note on Thursday, July 25th. Raymond James cut DRI Healthcare Trust from a “strong-buy” rating to an “outperform” rating and set a C$24.00 target price for the company. in a research report on Tuesday, July 9th. Royal Bank of Canada cut their target price on DRI Healthcare Trust from C$20.00 to C$16.00 in a report on Tuesday, July 9th. CIBC lowered their price target on DRI Healthcare Trust from C$20.00 to C$18.50 in a research note on Tuesday, July 9th. Finally, Stifel Nicolaus downgraded DRI Healthcare Trust from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$22.00 to C$15.00 in a report on Tuesday, July 9th.

DRI Healthcare Trust Stock Up 38.4 %

Shares of TSE DHT.UN opened at C$12.40 on Friday. DRI Healthcare Trust has a 1-year low of C$10.21 and a 1-year high of C$17.43. The business has a 50-day moving average of C$12.10 and a 200-day moving average of C$14.46.

DRI Healthcare Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 18th will be paid a $0.085 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.34 dividend on an annualized basis and a yield of 2.74%. DRI Healthcare Trust’s dividend payout ratio (DPR) is -940.00%.

DRI Healthcare Trust Company Profile

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.