DRI Healthcare Trust (TSE:DHT.UN) Trading 2.1% Higher – Still a Buy?

DRI Healthcare Trust (TSE:DHT.UN) shares traded up 2.1% during trading on Tuesday . The stock traded as high as C$17.91 and last traded at C$17.81. 24,120 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 56,343 shares. The stock had previously closed at C$17.45.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on DHT.UN shares. Stifel Nicolaus lifted their price objective on shares of DRI Healthcare Trust from C$25.00 to C$26.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. National Bank Financial raised 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. Scotiabank lifted their price target on DRI Healthcare Trust from C$25.00 to C$30.00 and gave the company a “sector outperform” rating in a research report on Tuesday, May 19th. Canaccord Genuity Group boosted their price objective on DRI Healthcare Trust from C$22.25 to C$23.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Finally, Raymond James Financial boosted their price objective 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 issued a Buy rating to the stock. According to data from MarketBeat.com, DRI Healthcare Trust currently has a consensus rating of “Buy” and an average price target of C$25.20.

DRI Healthcare Trust Price Performance

The firm’s 50 day moving average is C$17.98 and its 200 day moving average is C$17.28. The company has a market cap of C$959.65 million, a PE ratio of -21.82 and a beta of 0.35.

DRI Healthcare Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, July 20th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, June 30th. DRI Healthcare Trust’s dividend payout ratio (DPR) is presently -52.50%.

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.