DRI Healthcare Trust (TSE:DHT.UN) Trading 0.3% Higher - Here's What Happened

Key Points

• DRI Healthcare Trust's share price increased by 0.3% to C$14.56, while the trading volume dropped significantly to 10,381 shares, a 76% decline from its average.
• Analysts have upgraded the stock with increased price targets, resulting in an average target price of C$19.50 and a consensus rating of "Buy".
• The company announced a quarterly dividend of $0.10 per share, with an annualized yield of 2.7%, despite a high dividend payout ratio of 528.57%.

DRI Healthcare Trust (TSE:DHT.UN - Get Free Report) shot up 0.3% on Tuesday . The company traded as high as C$14.63 and last traded at C$14.56. 10,381 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 43,911 shares. The stock had previously closed at C$14.51.

DRI Healthcare Trust Stock Down 1.2%

The business has a 50-day moving average price of C$14.41 and a 200-day moving average price of C$13.02. The firm has a market capitalization of C$815.86 million, a PE ratio of 210.00 and a beta of 0.28.

DRI Healthcare Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Monday, October 20th will be issued a $0.10 dividend. The ex-dividend date is Monday, September 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.7%. DRI Healthcare Trust's dividend payout ratio (DPR) is 528.57%.

About DRI Healthcare Trust

DRI Healthcare Trust is an open-ended trust that provides unitholders with differentiated exposure to the anticipated growth in the global pharmaceuticals and biotechnology markets. Its business model is focused on managing and growing a diversified portfolio of pharmaceutical royalties to deliver attractive growth in cash royalty receipts over the long term.