DRI Healthcare Trust (TSE:DHT.UN) Price Target Cut to C$16.00 by Analysts at Royal Bank of Canada

DRI Healthcare Trust (TSE:DHT.UN) had its price objective lowered by Royal Bank of Canada from C$20.00 to C$16.00 in a report released on Tuesday morning, BayStreet.CA reports.

Other equities analysts have also issued research reports about the stock. National Bankshares cut their price objective on shares of DRI Healthcare Trust from C$23.50 to C$17.50 and set an outperform rating for the company in a research report on Tuesday. 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 price objective on the stock. in a report on Tuesday. Finally, CIBC upped their target price on DRI Healthcare Trust from C$19.50 to C$20.00 and gave the company 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 issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of C$19.14.

DRI Healthcare Trust Price Performance

Shares of DHT.UN stock opened at C$11.94 on Tuesday. The firm has a 50-day moving average price of C$14.86 and a 200 day moving average price of C$14.89. 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 will be paid on Friday, July 19th. Stockholders of record on Friday, July 19th will be issued a dividend of $0.085 per share. 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 is Friday, June 28th. DRI Healthcare Trust’s dividend payout ratio is presently 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.