DRI Healthcare Trust (TSE:DHT.UN) Reaches New 12-Month High – Time to Buy?

DRI Healthcare Trust (TSE:DHT.UN)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$19.75 and last traded at C$18.96, with a volume of 46095 shares traded. The stock had previously closed at C$19.65.

Analysts Set New Price Targets

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

DRI Healthcare Trust Price Performance

The stock has a market cap of C$1.02 billion, a price-to-earnings ratio of -20.67 and a beta of 0.39. The company’s fifty day moving average price is C$17.56 and its 200-day moving average price is C$16.78.

DRI Healthcare Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Monday, July 20th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, June 30th. DRI Healthcare Trust’s payout ratio is currently -45.56%.

About DRI Healthcare Trust

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.