DRI Healthcare Trust (TSE:DHT.UN) Stock Price Down 1.5% – Here’s What Happened

DRI Healthcare Trust (TSE:DHT.UN)’s share price dropped 1.5% during mid-day trading on Thursday . The stock traded as low as C$17.10 and last traded at C$17.12. Approximately 24,730 shares were traded during trading, a decline of 58% from the average daily volume of 58,726 shares. The stock had previously closed at C$17.38.

Analysts Set New Price Targets

DHT.UN has been the subject of several research reports. Stifel Nicolaus increased their price objective on shares of DRI Healthcare Trust from C$23.00 to C$24.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Canaccord Genuity Group boosted their target price on shares of 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. National Bank Financial boosted their target price on shares of DRI Healthcare Trust from C$22.50 to C$23.50 and gave the stock an “outperform” rating in a research note on Tuesday, May 19th. Scotiabank upped their price target on shares of DRI Healthcare Trust from C$25.00 to C$30.00 and gave the stock a “sector outperform” rating in a report on Tuesday, May 19th. Finally, Raymond James Financial increased their price target on 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 equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$24.80.

DRI Healthcare Trust Stock Down 1.5%

The stock has a market capitalization of C$941.87 million, a price-to-earnings ratio of -19.02 and a beta of 0.39. The stock has a 50 day moving average price of C$18.04 and a 200 day moving average price of C$16.97.

DRI Healthcare Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, July 20th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Tuesday, June 30th. DRI Healthcare Trust’s dividend payout ratio (DPR) is -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.