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

DRI Healthcare Trust (TSE:DHT.UN)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as C$19.04 and last traded at C$19.04, with a volume of 601 shares. The stock had previously closed at C$18.13.

Analysts Set New Price Targets

Several research firms recently weighed in on DHT.UN. Stifel Nicolaus lifted their price target on DRI Healthcare Trust from C$22.00 to C$23.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. National Bank Financial lifted their price target on DRI Healthcare Trust from C$22.50 to C$23.50 and gave the stock an “outperform” rating in a report on Tuesday, May 19th. Finally, Scotiabank lifted 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 report on Tuesday, May 19th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, DRI Healthcare Trust currently has an average rating of “Buy” and a consensus price target of C$25.50.

DRI Healthcare Trust Price Performance

The company’s 50-day moving average is C$16.72 and its two-hundred day moving average is C$16.49. The firm has a market cap of C$1.04 billion, a P/E ratio of -20.99 and a beta of 0.47.

DRI Healthcare Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 20th. Investors of record on Monday, April 20th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.44 annualized dividend and a yield of 2.3%. DRI Healthcare Trust’s dividend payout ratio is currently -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.