01:26 PM EDT, 07/09/2024 (MT Newswires) -- On July 8, the Board of DRI Healthcare appointed Gary Collins as the interim CEO of the Trust, whilst DRI Healthcare named Ali Hedayat as its interim CEO, notes National Bank. The changes follow Behzad Khosrowshahi's resignation as a result of an ongoing investigation of irregularities related to certain alleged consulting expenses presented by Khosrowshahi for reimbursement (currently ~$7.5 million).

"This development likely puts a damper on future growth prospects through some mix of deal expertise lost with Mr. Khosrowshahi, reticence of royalty counterparties, and more difficult access to capital markets in the future," writes analyst Zachary Evershed.

Target cut to $17.50 target (was $23.50). Maintain Outperform rating.

"We hope for a substantive update to reassure investors that the trust's growth trajectory remains feasible, at the latest when DHT reports Q2/24 results on August 6."

Price: 11.77, Change: +0.60, Percent Change: +5.37