CIBC Trims DRI Healthcare Trust (TSE:DHT.UN) Target Price to C$18.50

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

Other equities research analysts have also recently issued reports about the stock. Raymond James cut shares of 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 research report on Tuesday. Royal Bank of Canada decreased their target price on shares of DRI Healthcare Trust from C$20.00 to C$16.00 in a research note on Tuesday. National Bankshares dropped their price target on 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. Finally, Canaccord Genuity Group reduced their price objective 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, DRI Healthcare Trust has an average rating of Moderate Buy and a consensus target price of C$19.14.

DRI Healthcare Trust Stock Performance

TSE DHT.UN opened at C$11.94 on Tuesday. The stock’s 50 day simple moving average is C$14.86 and its 200-day simple moving average is 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 company also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 19th will be given a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, June 28th. This is a positive change from DRI Healthcare Trust’s previous quarterly dividend of $0.08. DRI Healthcare Trust’s payout ratio is presently 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.