DRI Healthcare Trust (TSE:DHT.UN) Given New C$18.00 Price Target at CIBC

DRI Healthcare Trust (TSE:DHT.UN) had its target price trimmed by CIBC from C$19.50 to C$18.00 in a report issued on Thursday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also recently commented on the company. Scotiabank upped their price target on DRI Healthcare Trust from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Raymond James reduced their price objective on DRI Healthcare Trust from C$23.00 to C$22.00 in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$17.94.

DRI Healthcare Trust Stock Up 42.9 %

Shares of TSE DHT.UN opened at C$12.22 on Thursday. The firm’s 50-day moving average price is C$13.38 and its 200-day moving average price is C$13.23. DRI Healthcare Trust has a 52-week low of C$10.39 and a 52-week high of C$17.43.

DRI Healthcare Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 18th were issued a dividend of $0.085 per share. The ex-dividend date was Friday, September 27th. This represents a $0.34 annualized dividend and a yield of 2.78%. DRI Healthcare Trust’s payout ratio is currently -920.00%.

About DRI Healthcare Trust

DRI Healthcare Trust focuses on managing and growing a portfolio of pharmaceutical royalties. It owns a portfolio of 18 royalties derived from the sale of 14 various pharmaceutical products that focuses on eight therapeutic areas. The company was incorporated in 2020 and is headquartered in Toronto, Canada.