DRI Healthcare Trust (TSE:DHT.UN) Downgraded by Stifel Nicolaus

Stifel Nicolaus downgraded shares of DRI Healthcare Trust (TSE:DHT.UN) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, BayStreet.CA reports. They currently have C$15.00 price objective on the stock, down from their previous price objective of C$22.00.

A number of other analysts have also recently commented on DHT.UN. Canaccord Genuity Group cut their target price on DRI Healthcare Trust from C$19.50 to C$19.00 and set a buy rating on the stock in a research report on Wednesday, May 8th. National Bankshares cut their target price on DRI Healthcare Trust from C$23.50 to C$17.50 and set an outperform rating on the stock in a research report on Tuesday. Raymond James cut DRI Healthcare Trust from a strong-buy rating to an outperform rating and set a C$24.00 target price on the stock. in a research report on Tuesday. CIBC cut their target price on DRI Healthcare Trust from C$20.00 to C$18.50 in a research report on Tuesday. Finally, Royal Bank of Canada cut their target price on DRI Healthcare Trust from C$20.00 to C$16.00 in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of C$19.14.

DRI Healthcare Trust Trading Up 30.7 %

DHT.UN opened at C$11.79 on Tuesday. The business’s 50-day simple moving average is C$14.95 and its 200-day simple moving average is C$14.89. DRI Healthcare Trust has a one year low of C$10.21 and a one year high of C$17.43.

DRI Healthcare Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 19th will be issued a dividend of $0.085 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.88%. This is a positive change from DRI Healthcare Trust’s previous quarterly dividend of $0.08. DRI Healthcare Trust’s dividend payout ratio (DPR) is currently 17.34%.

DRI Healthcare Trust Company Profile

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.