DRI Healthcare Trust (TSE:DHT.UN) PT Lowered to C$18.50

DRI Healthcare Trust (TSE:DHT.UN) had its target price lowered by CIBC from C$20.00 to C$18.50 in a research note issued to investors on Tuesday morning, BayStreet.CA reports.

A number of other research analysts have also recently commented on the company. National Bankshares dropped their price target on DRI Healthcare Trust from C$23.50 to C$17.50 and set an outperform rating on the stock in a research report on Tuesday. Raymond James cut 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. Royal Bank of Canada cut their target price on shares of DRI Healthcare Trust from C$20.00 to C$16.00 in a research report on Tuesday. Finally, Canaccord Genuity Group lowered their price target 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 report on Wednesday, May 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of C$19.14.

DRI Healthcare Trust Stock Up 37.1 %

TSE:DHT.UN opened at C$11.94 on Tuesday. The firm’s 50 day moving average is C$14.86 and its 200 day moving average is C$14.89. DRI Healthcare Trust has a 12 month low of C$10.21 and a 12 month high of C$17.43.

DRI Healthcare Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 19th will be given a dividend of $0.085 per share. The ex-dividend date of this dividend is Friday, June 28th. This is a boost from DRI Healthcare Trust’s previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a dividend yield of 2.85%. DRI Healthcare Trust’s dividend payout ratio is currently 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.