Diversified Healthcare Trust (NASDAQ:DHC) Trading 6.3% Higher – Here’s What Happened

Diversified Healthcare Trust (NASDAQ:DHC) rose 6.3% during mid-day trading on Wednesday . The company traded as high as $2.72 and last traded at $2.71. Approximately 269,628 shares traded hands during trading, a decline of 74% from the average daily volume of 1,055,575 shares. The stock had previously closed at $2.55.

Analysts Set New Price Targets

A number of research firms have recently commented on DHC. JMP Securities reiterated a “market perform” rating on shares of Diversified Healthcare Trust in a report on Wednesday, August 21st. Royal Bank of Canada upped their price target on Diversified Healthcare Trust from $2.00 to $3.00 and gave the company an “underperform” rating in a report on Monday, October 14th. StockNews.com raised shares of Diversified Healthcare Trust from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, B. Riley upped their target price on shares of Diversified Healthcare Trust from $5.00 to $6.00 and gave the company a “buy” rating in a report on Monday, August 5th.

Diversified Healthcare Trust Price Performance

The firm has a market capitalization of $629.71 million, a PE ratio of -1.58 and a beta of 2.23. The company has a current ratio of 11.57, a quick ratio of 11.57 and a debt-to-equity ratio of 1.44. The company has a fifty day moving average price of $3.34 and a two-hundred day moving average price of $3.15.

Diversified Healthcare Trust (NASDAQ:DHC) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.46). The business had revenue of $373.64 million during the quarter, compared to analyst estimates of $376.80 million. Diversified Healthcare Trust had a negative net margin of 26.09% and a negative return on equity of 17.55%. During the same quarter in the prior year, the firm posted $0.03 earnings per share. Sell-side analysts forecast that Diversified Healthcare Trust will post 0.05 earnings per share for the current year.

Diversified Healthcare Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, October 28th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Monday, October 28th. Diversified Healthcare Trust’s payout ratio is -2.48%.

Hedge Funds Weigh In On Diversified Healthcare Trust

Large investors have recently modified their holdings of the business. BlackBarn Capital Partners LP grew its position in Diversified Healthcare Trust by 128.6% during the second quarter. BlackBarn Capital Partners LP now owns 4,000,000 shares of the real estate investment trust’s stock worth $12,200,000 after buying an additional 2,250,000 shares during the period. Metis Global Partners LLC grew its holdings in shares of Diversified Healthcare Trust by 38.8% in the 3rd quarter. Metis Global Partners LLC now owns 23,610 shares of the real estate investment trust’s stock worth $99,000 after acquiring an additional 6,603 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Diversified Healthcare Trust by 68.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 40,340 shares of the real estate investment trust’s stock valued at $169,000 after purchasing an additional 16,456 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Diversified Healthcare Trust by 2.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 245,882 shares of the real estate investment trust’s stock worth $602,000 after purchasing an additional 4,974 shares during the last quarter. Finally, Algert Global LLC boosted its position in Diversified Healthcare Trust by 3.0% during the second quarter. Algert Global LLC now owns 307,915 shares of the real estate investment trust’s stock worth $939,000 after purchasing an additional 8,878 shares in the last quarter. 75.98% of the stock is owned by hedge funds and other institutional investors.

Diversified Healthcare Trust Company Profile

DHC is a real estate investment trust, or REIT, focused on owning high-quality healthcare properties located throughout the United States. DHC seeks diversification across the health services spectrum by care delivery and practice type, by scientific research disciplines and by property type and location.