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DRI Healthcare Trust
Symbol DHT
Shares Issued 56,215,712
Close 2024-08-13 C$ 12.73
Market Cap C$ 715,626,014
Recent Sedar Documents

Globe says DRI Healthcare Trust boosted to "buy"

2024-08-14 08:53 ET - In the News

The Globe and Mail reports in its Wednesday, Aug. 14, edition that Stifel analyst Justin Keywood expects continued market volatility in the North American pharmaceuticals sector, pointing to "macro uncertainty as the U.S. election approaches." The Globe's David Leeder writes in the Eye On Equities column that Mr. Keywood has elevated his recommendation for DRI Healthcare Trust to "buy" from "hold." Mr. Keywood raised his share target to $16 from $15. Analysts on average target the shares at $18.58. Mr. Keywood says in a note: "DRI is a portfolio of 25 royalty assets tied to the global pharmaceutical industry. After a period of substantial capital deployment and solid growth quarters recently, a surprise development, related to the prior CEO and alleged expense irregularities, led to a sharp correction in share price on July 8. We also downgraded the stock at the time with uncertainty of the eventual fallout of an ongoing investigation. However, our recent discussions with several members of DRI's executive team and chairman, has provided us confidence that the identified $6.51-million (U.S.) in irregular expenses is accurate and several initiatives to improve governance and controls are underway."

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