Brokerages Set DRI Healthcare Trust (TSE:DHT.UN) Price Target at C$17.94

Shares of DRI Healthcare Trust (TSE:DHT.UN) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$17.94.

Several research firms have recently weighed in on DHT.UN. Scotiabank boosted their price objective on shares of DRI Healthcare Trust from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Raymond James dropped their price objective on DRI Healthcare Trust from C$23.00 to C$22.00 in a research note on Wednesday, November 13th. Finally, CIBC cut their price objective on DRI Healthcare Trust from C$19.50 to C$18.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th.

DRI Healthcare Trust Stock Performance

Shares of DHT.UN opened at C$11.82 on Monday. The company’s fifty day simple moving average is C$12.96 and its 200 day simple moving average is C$13.03. DRI Healthcare Trust has a 1-year low of C$10.39 and a 1-year high of C$17.43.

DRI Healthcare Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 18th were paid a $0.085 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.34 annualized dividend and a yield of 2.88%. DRI Healthcare Trust’s dividend payout ratio (DPR) is presently -920.00%.

About DRI Healthcare Trust

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.