DRI Healthcare Q2 total income rises
Overview
DRI Healthcare Q2 total income at $44.1 mln, compared with 41.6 mln year ago
Co internalized investment management, aligning management with unitholders
Repurchased ~958K units for $9.1 mln under NCIB
Result Drivers
INTERNALIZATION - DRI Healthcare completed the internalization of its investment management function, aligning management with unitholders
EKTERLY INVESTMENT - Increased royalty entitlement on Ekterly by making a $22 mln optional payment, enhancing future cash flows
UNIT REPURCHASE - Repurchased ~958K units for $9.1 mln under NCIB, enhancing shareholder value
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Total Income |
| $44.13 mln |
|
Q2 Adjusted Cash Earnings per Unit |
| $0.51 |
|
Q2 Net Earnings per Unit |
| $0.01 |
|
Q2 Net Income |
| $376,000 |
|
Q2 Adjusted EBITDA |
| $30.37 mln |
|
Q2 Adjusted EBITDA Margin |
| 76.0% |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the pharmaceuticals peer group is "buy"
Wall Street's median 12-month price target for Dri Healthcare Trust is C$19.25, about 22.3% above its August 13 closing price of C$14.95
Press Release: ID:nCNWMJ0F0a
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