DRI Healthcare Trust (TSE:DHT.UN) Shares Down 1.4% - Here's Why

Key Points

• Shares fell 1.4% to C$16.68 on Thursday with only ~17,115 shares traded, about a 54% decline from the average daily volume.
• Analysts remain bullish: Stifel raised its price target to C$22, and the stock carries a consensus "Buy" rating with a mean target of C$18.88.
• DRI pays a quarterly dividend of C$0.11 (annualized C$0.44, yield ~2.6%) and has a market cap of C$917.7M, a negative P/E (-18.33) and a low beta (0.38).

DRI Healthcare Trust (TSE:DHT.UN - Get Free Report)'s share price traded down 1.4% on Thursday . The company traded as low as C$16.63 and last traded at C$16.68. Approximately 17,115 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 36,846 shares. The stock had previously closed at C$16.92.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus boosted their price objective on shares of DRI Healthcare Trust from C$21.00 to C$22.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of C$18.88.

DRI Healthcare Trust Stock Performance

The company has a market cap of C$917.68 million, a P/E ratio of -18.33 and a beta of 0.38. The stock has a 50-day simple moving average of C$16.68 and a 200 day simple moving average of C$16.11.

DRI Healthcare Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 20th. Investors of record on Monday, April 20th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Tuesday, March 31st. DRI Healthcare Trust's dividend payout ratio is presently -43.96%.

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.

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