DRI Healthcare Trust (TSE:DHT.UN) Rating Lowered to Hold at Stifel Nicolaus

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

DHT.UN has been the subject of a number of other reports. Canaccord Genuity Group decreased their price target on DRI Healthcare Trust from C$19.50 to C$19.00 and set a buy rating for the company in a report on Wednesday, May 8th. Royal Bank of Canada lowered their target price on DRI Healthcare Trust from C$20.00 to C$16.00 in a report on Tuesday. Raymond James cut DRI Healthcare Trust from a strong-buy rating to an outperform rating and set a C$24.00 price target on the stock. in a report on Tuesday. National Bankshares lowered their price objective on shares of DRI Healthcare Trust from C$23.50 to C$17.50 and set an outperform rating for the company in a research note on Tuesday. Finally, CIBC dropped their target price on shares of DRI Healthcare Trust from C$20.00 to C$18.50 in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of C$19.14.

DRI Healthcare Trust Trading Up 37.1 %

DHT.UN opened at C$11.94 on Tuesday. DRI Healthcare Trust has a twelve month low of C$10.21 and a twelve month high of C$17.43. The company has a fifty day moving average of C$14.86 and a 200-day moving average of C$14.89.

DRI Healthcare Trust Increases Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.85%. This is a positive change from DRI Healthcare Trust’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, June 28th. DRI Healthcare Trust’s dividend 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.