Stifel Nicolaus Downgrades DRI Healthcare Trust (TSE:DHT.UN) to Hold

Stifel Nicolaus lowered shares of DRI Healthcare Trust (TSE:DHT.UN) from a buy rating to a hold rating in a report issued on Tuesday morning, BayStreet.CA reports. They currently have C$15.00 price target on the stock, down from their previous price target of C$22.00.

A number of other research analysts have also commented on DHT.UN. Royal Bank of Canada lowered their price objective on shares of DRI Healthcare Trust from C$20.00 to C$16.00 in a research note on Tuesday. CIBC lowered their price objective on shares of DRI Healthcare Trust from C$20.00 to C$18.50 in a research note on Tuesday. National Bankshares lowered their price objective on shares of DRI Healthcare Trust from C$23.50 to C$17.50 and set an outperform rating on the stock in a research note on Tuesday. Raymond James lowered shares of DRI Healthcare Trust from a strong-buy rating to an outperform rating and set a C$24.00 price objective on the stock. in a research note on Tuesday. Finally, Canaccord Genuity Group lowered their price objective on shares of DRI Healthcare Trust from C$19.50 to C$19.00 and set a buy rating on the stock in a research note on Wednesday, May 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, DRI Healthcare Trust presently has an average rating of Moderate Buy and a consensus price target of C$19.14.

DRI Healthcare Trust Stock Up 30.7 %

DHT.UN opened at C$11.79 on Tuesday. DRI Healthcare Trust has a twelve month low of C$10.21 and a twelve month high of C$17.43. The business’s 50 day moving average is C$14.95 and its 200-day moving average is C$14.89.

DRI Healthcare Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 19th will be given a $0.085 dividend. This is a positive change from DRI Healthcare Trust’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.34 annualized dividend and a yield of 2.88%. DRI Healthcare Trust’s payout ratio is 17.34%.

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.