DRI Healthcare Trust (TSE:DHT.UN) Price Target Cut to C$17.50 by Analysts at National Bankshares

DRI Healthcare Trust (TSE:DHT.UN) had its target price lowered by National Bankshares from C$23.50 to C$17.50 in a research report sent to investors on Tuesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts also recently issued reports on DHT.UN. Canaccord Genuity Group decreased their price objective on 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. Raymond James lowered DRI Healthcare Trust from a strong-buy rating to an outperform rating and set a C$24.00 price target on the stock. in a report on Tuesday. Finally, CIBC lifted their price objective on shares of DRI Healthcare Trust from C$19.50 to C$20.00 and gave the stock an outperform rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, DRI Healthcare Trust currently has an average rating of Moderate Buy and a consensus price target of C$19.14.

DRI Healthcare Trust Trading Up 37.1 %

DHT.UN stock opened at C$11.94 on Tuesday. DRI Healthcare Trust has a 52 week low of C$10.21 and a 52 week high of C$17.43. The company has a fifty day simple moving average of C$14.86 and a two-hundred day simple moving average of C$14.89.

DRI Healthcare Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 19th will be issued a $0.085 dividend. This represents a $0.34 annualized dividend and a dividend yield of 2.85%. This is a boost from DRI Healthcare Trust’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, June 28th. 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.