Diversified Healthcare Trust (NASDAQ:DHC) Hits New 12-Month High – Here’s What Happened

by · The Cerbat Gem

Diversified Healthcare Trust (NASDAQ:DHC – Get Free Report) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $5.00 and last traded at $4.91, with a volume of 1217671 shares. The stock had previously closed at $4.69.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on DHC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Diversified Healthcare Trust in a research report on Wednesday, October 8th. Royal Bank Of Canada raised shares of Diversified Healthcare Trust from an “underperform” rating to a “sector perform” rating and raised their price objective for the stock from $3.00 to $5.00 in a research note on Thursday, November 13th. Finally, B. Riley reaffirmed a “buy” rating and set a $6.50 target price (up from $5.50) on shares of Diversified Healthcare Trust in a report on Monday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.75.

Read Our Latest Report on DHC

Diversified Healthcare Trust Stock Up 4.7%

The company has a debt-to-equity ratio of 1.61, a current ratio of 16.89 and a quick ratio of 16.89. The business’s 50 day moving average price is $4.47 and its 200 day moving average price is $4.00. The firm has a market cap of $1.19 billion, a PE ratio of -3.36 and a beta of 2.39.

Diversified Healthcare Trust (NASDAQ:DHC – Get Free Report) last issued its quarterly earnings results on Monday, June 2nd. The real estate investment trust reported $0.01 earnings per share for the quarter. Diversified Healthcare Trust had a negative net margin of 22.90% and a negative return on equity of 18.90%. The firm had revenue of $370.78 million for the quarter.

Diversified Healthcare Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, October 27th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, October 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.8%. Diversified Healthcare Trust’s payout ratio is currently -2.74%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DHC. Geode Capital Management LLC lifted its holdings in Diversified Healthcare Trust by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 5,847,246 shares of the real estate investment trust’s stock valued at $20,936,000 after purchasing an additional 44,759 shares in the last quarter. Carronade Capital Management LP raised its position in shares of Diversified Healthcare Trust by 181.9% in the third quarter. Carronade Capital Management LP now owns 4,561,748 shares of the real estate investment trust’s stock valued at $20,117,000 after buying an additional 2,943,300 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Diversified Healthcare Trust by 158.9% in the first quarter. Goldman Sachs Group Inc. now owns 3,862,334 shares of the real estate investment trust’s stock valued at $9,270,000 after buying an additional 2,370,459 shares during the last quarter. Park West Asset Management LLC purchased a new position in shares of Diversified Healthcare Trust in the first quarter worth about $8,583,000. Finally, Dimensional Fund Advisors LP boosted its position in Diversified Healthcare Trust by 8.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,221,248 shares of the real estate investment trust’s stock worth $9,794,000 after acquiring an additional 171,009 shares during the last quarter. 75.98% of the stock is owned by institutional investors and hedge funds.

Diversified Healthcare Trust Company Profile

(Get Free Report)

Diversified Healthcare Trust is a real estate investment trust, which engages in the ownership of senior living communities, medical office buildings, and wellness centers. It operates through the following segments: Office Portfolio, Senior Housing Operating Portfolio (SHOP), and Non-Segment. The Office Portfolio segment consists of medical office properties leased to medical providers and other medical related businesses, as well as life science properties leased to biotech laboratories and other similar tenants.

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