DRI Healthcare Trust (TSE:DHT.UN) Trading Up 3.5% – What’s Next?

Shares of DRI Healthcare Trust (TSE:DHT.UN) shot up 3.5% during mid-day trading on Tuesday . The company traded as high as C$18.81 and last traded at C$18.77. 120,525 shares changed hands during trading, an increase of 104% from the average session volume of 59,122 shares. The stock had previously closed at C$18.13.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DHT.UN. Stifel Nicolaus boosted their price objective on shares of DRI Healthcare Trust from C$22.00 to C$23.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Scotiabank boosted their price objective on shares of DRI Healthcare Trust from C$25.00 to C$30.00 and gave the company a “sector outperform” rating in a research report on Tuesday, May 19th. Finally, National Bank Financial boosted their price objective on shares of DRI Healthcare Trust from C$22.50 to C$23.50 and gave the company an “outperform” rating in a research report on Tuesday, May 19th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$25.50.

DRI Healthcare Trust Trading Up 3.5%

The business’s 50 day moving average is C$16.72 and its two-hundred day moving average is C$16.49. The company has a market cap of C$1.03 billion, a PE ratio of -20.86 and a beta of 0.47.

DRI Healthcare Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 20th. Shareholders of record on Monday, April 20th were paid a $0.11 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.44 annualized dividend and a yield of 2.3%. DRI Healthcare Trust’s payout ratio is presently -45.56%.

DRI Healthcare Trust Company Profile

DRI Healthcare Trust is managed by DRI Capital Inc DRI a pioneer in global pharmaceutical royalty monetization. We provide uniquely favorable exposure for investors in the biopharma industry managing a diversified portfolio of interests in medicines that have a demonstrable positive impact on the world and aiming to acquire dependable patent-protected cash flow streams derived from the sales of those important drugs while limiting the risks and costs connected to drug development. DRI has developed a disciplined strategy predicated on actively sourcing royalty streams on medically necessary products and proudly work with multiple repeat deal partners.DRI Healthcare Trust is an unincorporated open-ended trust governed by the laws of the Province of Ontario pursuant to a declaration of trust dated October 21 2020 as amended.DRI Healthcare Trusts units are listed and trade on the Toronto Stock Exchange under DHT.UN in Canadian dollars and under DHT.U in U.S.