DRI Healthcare Trust (TSE:DHT.UN) Given New C$18.50 Price Target at CIBC

DRI Healthcare Trust (TSE:DHT.UN) had its price objective decreased by CIBC from C$20.00 to C$18.50 in a research note released on Tuesday, BayStreet.CA reports.

Several other research firms have also recently weighed in on DHT.UN. Canaccord Genuity Group cut their price target 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 target price for the company. in a report on Tuesday. National Bankshares dropped their target price on DRI Healthcare Trust from C$23.50 to C$17.50 and set an outperform rating for the company in a report on Tuesday. Finally, Royal Bank of Canada dropped their target price on DRI Healthcare Trust from C$20.00 to C$16.00 in a report on Tuesday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of C$19.14.

DRI Healthcare Trust Stock Performance

TSE DHT.UN opened at C$11.79 on Tuesday. The business has a 50 day simple moving average of C$14.95 and a two-hundred day simple moving average of C$14.89. DRI Healthcare Trust has a 1-year low of C$10.21 and a 1-year high of C$17.43.

DRI Healthcare Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 19th will be paid a dividend of $0.085 per share. This is a positive change from DRI Healthcare Trust’s previous quarterly dividend of $0.08. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Friday, June 28th. DRI Healthcare Trust’s dividend payout ratio (DPR) 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.