DRI Healthcare Trust (TSE:DHT.UN) PT Lowered to C$17.50

DRI Healthcare Trust (TSE:DHT.UN) had its price objective reduced by National Bankshares from C$23.50 to C$17.50 in a research note issued to investors on Tuesday, BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

DHT.UN has been the subject of a number of other reports. Canaccord Genuity Group decreased their price objective on DRI Healthcare Trust from C$19.50 to C$19.00 and set a buy rating for the company in a report on Wednesday, May 8th. Raymond James cut DRI Healthcare Trust from a strong-buy rating to an outperform rating and set a C$24.00 price target for the company. in a research note on Tuesday. Finally, CIBC lifted their price objective on 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 equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, DRI Healthcare Trust currently has an average rating of Moderate Buy and a consensus target price of C$19.14.

DRI Healthcare Trust Stock Performance

Shares of TSE DHT.UN opened at C$11.94 on Tuesday. The firm has a 50 day moving average price of C$14.86 and a two-hundred day moving average price of C$14.89. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 19th will be paid a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.85%. This is an increase from DRI Healthcare Trust’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, June 28th. DRI Healthcare Trust’s payout ratio is currently 17.34%.

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.