DRI Healthcare Trust (TSE:DHT.UN) Receives Average Rating of “Moderate Buy” from Brokerages

DRI Healthcare Trust (TSE:DHT.UN) has received an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$18.50.

Several research firms have issued reports on DHT.UN. CIBC decreased their price target on shares of DRI Healthcare Trust from C$20.00 to C$18.50 in a research note on Tuesday, July 9th. Royal Bank of Canada decreased their price target on shares of DRI Healthcare Trust from C$20.00 to C$16.00 in a research note on Tuesday, July 9th. Stifel Nicolaus cut shares of DRI Healthcare Trust from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$22.00 to C$15.00 in a research report on Tuesday, July 9th. Truist Financial decreased their target price on shares of DRI Healthcare Trust from C$17.00 to C$14.00 in a research report on Thursday, July 25th. Finally, National Bankshares decreased their target price 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 report on Tuesday, July 9th.

DRI Healthcare Trust Stock Performance

TSE:DHT.UN opened at C$12.50 on Friday. The firm has a 50-day moving average price of C$12.10 and a two-hundred day moving average price of C$14.46. DRI Healthcare Trust has a twelve month low of C$10.21 and a twelve month high of C$17.43.

DRI Healthcare Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 19th were paid a dividend of $0.085 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.72%. This is a positive change from DRI Healthcare Trust’s previous quarterly dividend of $0.08. DRI Healthcare Trust’s dividend payout ratio (DPR) is currently -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.