DRI Healthcare Trust (TSE:DHT.UN) Reaches New 52-Week High - Should You Buy?

Key Points

• DRI Healthcare Trust hit a new 52-week high, trading as high as C$19.75 before easing to C$18.96, showing strong recent investor interest.
• Analysts remain bullish on the stock, with multiple firms raising price targets and the overall consensus sitting at a Buy rating with an average target of C$24.80.
• The trust recently announced a quarterly dividend of C$0.11 per share, or C$0.44 annualized, which implies a 2.3% yield.

DRI Healthcare Trust (TSE:DHT.UN - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$19.75 and last traded at C$18.96, with a volume of 46095 shares trading hands. The stock had previously closed at C$19.65.

Analyst Upgrades and Downgrades

DHT.UN has been the topic of several research analyst reports. Canaccord Genuity Group boosted their price target on 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. Scotiabank boosted their target price on DRI Healthcare Trust from C$25.00 to C$30.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, May 19th. Raymond James Financial lifted their price target on DRI Healthcare Trust from C$22.50 to C$23.50 and gave the stock a "strong-buy" rating in a research note on Monday, June 29th. National Bank Financial increased their price objective on shares of DRI Healthcare Trust from C$22.50 to C$23.50 and gave the company an "outperform" rating in a research note on Tuesday, May 19th. Finally, Stifel Nicolaus raised their target price on shares of DRI Healthcare Trust from C$23.00 to C$24.00 and gave the company a "buy" rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of C$24.80.

DRI Healthcare Trust Stock Down 3.5%

The stock has a fifty day moving average price of C$17.49 and a two-hundred day moving average price of C$16.76. The company has a market capitalization of C$1.04 billion, a price-to-earnings ratio of -21.07 and a beta of 0.39.

DRI Healthcare Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Monday, July 20th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Tuesday, June 30th. DRI Healthcare Trust's dividend payout ratio is -45.56%.

About DRI Healthcare Trust

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.

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