DRI Healthcare Trust (TSE:DHT.UN) Reaches New 1-Year High – Here’s What Happened

Shares of DRI Healthcare Trust (TSE:DHT.UN) reached a new 52-week high during trading on Thursday . The stock traded as high as C$19.75 and last traded at C$18.96, with a volume of 46095 shares traded. The stock had previously closed at C$19.65.

Analyst Ratings Changes

DHT.UN has been the topic of a number of recent analyst reports. Scotiabank increased their price target on DRI Healthcare Trust from C$25.00 to C$30.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, May 19th. National Bank Financial upped their target price on DRI Healthcare Trust from C$22.50 to C$23.50 and gave the company an “outperform” rating in a research note on Tuesday, May 19th. Stifel Nicolaus increased their target price on DRI Healthcare Trust from C$23.00 to C$24.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Canaccord Genuity Group raised their price target on DRI Healthcare Trust from C$22.25 to C$23.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Finally, Raymond James Financial upped their price objective on shares of DRI Healthcare Trust from C$22.50 to C$23.50 and gave the company a “strong-buy” rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, DRI Healthcare Trust currently has an average rating of “Buy” and a consensus target price of C$24.80.

DRI Healthcare Trust Stock Performance

The stock’s fifty day simple moving average is C$17.49 and its two-hundred day simple moving average is C$16.76. The company has a market cap of C$1.04 billion, a price-to-earnings ratio of -21.07 and a beta of 0.39.

DRI Healthcare Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, July 20th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, June 30th. DRI Healthcare Trust’s dividend payout ratio (DPR) is -45.56%.

About DRI Healthcare Trust

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.