DRI Healthcare Trust (TSE:DHT.UN) Trading Up 0.3% - 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)'s share price was up 0.3% on Tuesday . The stock traded as high as C$14.63 and last traded at C$14.56. Approximately 10,381 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 43,911 shares. The stock had previously closed at C$14.51.

Analyst Upgrades and Downgrades

DHT.UN has been the topic of a number of recent analyst reports. CIBC increased their price target on DRI Healthcare Trust from C$16.00 to C$17.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada upped their target price on DRI Healthcare Trust from C$17.00 to C$18.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Finally, National Bankshares increased their target price on DRI Healthcare Trust from C$18.00 to C$18.50 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, DRI Healthcare Trust has a consensus rating of "Buy" and an average target price of C$19.50.

DRI Healthcare Trust Price Performance

The firm has a market cap of C$808.09 million, a price-to-earnings ratio of 208.00 and a beta of 0.28. The business has a fifty day simple moving average of C$14.36 and a 200 day simple moving average of C$12.96.

DRI Healthcare Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders 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 dividend on an annualized basis and a yield of 2.7%. DRI Healthcare Trust's dividend payout ratio (DPR) is presently 528.57%.

DRI Healthcare Trust Company Profile

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.

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