Brokerages Set DRI Healthcare Trust (TSE:DHT.UN) PT at C$21.50

Shares of DRI Healthcare Trust (TSE:DHT.UN) have been given a consensus rating of “Buy” by the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$21.50.

A number of analysts have recently weighed in on DHT.UN shares. CIBC raised their price target on shares of DRI Healthcare Trust from C$19.50 to C$20.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Canaccord Genuity Group dropped their target price on shares of DRI Healthcare Trust from C$19.50 to C$19.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th.

DRI Healthcare Trust Trading Up 36.5 %

DHT.UN opened at C$15.90 on Monday. The firm’s 50 day moving average is C$15.34 and its 200-day moving average is C$14.88. DRI Healthcare Trust has a 52-week low of C$10.21 and a 52-week high of C$17.43.

DRI Healthcare Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 19th will be issued a $0.085 dividend. 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 2.14%. DRI Healthcare Trust’s dividend payout ratio (DPR) 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.