DRI Healthcare Trust (TSE:DHT.UN) Trading Down 1.5% – Time to Sell?

DRI Healthcare Trust (TSE:DHT.UN)’s stock price fell 1.5% during mid-day trading on Thursday . The company traded as low as C$17.10 and last traded at C$17.12. Approximately 24,730 shares changed hands during trading, a decline of 58% from the average daily volume of 58,726 shares. The stock had previously closed at C$17.38.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Raymond James Financial boosted their target price on DRI Healthcare Trust from C$22.50 to C$23.50 and gave the stock a “strong-buy” rating in a report on Monday, June 29th. Scotiabank lifted their price target 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. National Bank Financial upped their price target on shares of DRI Healthcare Trust from C$22.50 to C$23.50 and gave the stock an “outperform” rating in a research note on Tuesday, May 19th. Canaccord Genuity Group increased their price objective on shares of DRI Healthcare Trust from C$22.25 to C$23.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Finally, Stifel Nicolaus raised their price objective on shares of DRI Healthcare Trust from C$23.00 to C$24.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$24.80.

DRI Healthcare Trust Price Performance

The stock’s 50-day moving average is C$18.05 and its two-hundred day moving average is C$16.98. The company has a market cap of C$952.33 million, a P/E ratio of -19.23 and a beta of 0.39.

DRI Healthcare Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 20th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, June 30th. DRI Healthcare Trust’s dividend payout ratio is presently -45.56%.

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.