Diversified Healthcare Trust (NASDAQ:DHC) Trading Down 6.9% – What’s Next?

Shares of Diversified Healthcare Trust (NASDAQ:DHC) dropped 6.9% during trading on Thursday . The company traded as low as $2.65 and last traded at $2.68. Approximately 553,394 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 1,059,875 shares. The stock had previously closed at $2.88.

Wall Street Analysts Forecast Growth

DHC has been the subject of a number of recent analyst reports. B. Riley upped their price target on Diversified Healthcare Trust from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Monday, August 5th. JMP Securities reissued a “market perform” rating on shares of Diversified Healthcare Trust in a research note on Wednesday, August 21st. StockNews.com cut Diversified Healthcare Trust from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. Finally, Royal Bank of Canada increased their target price on Diversified Healthcare Trust from $2.00 to $3.00 and gave the stock an “underperform” rating in a research note on Monday, October 14th.

Diversified Healthcare Trust Stock Down 6.9 %

The company has a market capitalization of $644.73 million, a P/E ratio of -1.65 and a beta of 2.23. The firm’s 50 day moving average price is $3.59 and its two-hundred day moving average price is $3.13. The company has a current ratio of 11.63, a quick ratio of 11.63 and a debt-to-equity ratio of 1.36.

Diversified Healthcare Trust (NASDAQ:DHC) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.46). The business had revenue of $373.64 million for the quarter, compared to the consensus estimate of $376.80 million. Diversified Healthcare Trust had a negative return on equity of 17.17% and a negative net margin of 26.09%. During the same period in the prior year, the business earned $0.03 earnings per share. Equities research analysts forecast that Diversified Healthcare Trust will post 0.2 EPS for the current year.

Diversified Healthcare Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, October 28th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, October 28th. Diversified Healthcare Trust’s payout ratio is presently -2.48%.

Institutional Investors Weigh In On Diversified Healthcare Trust

Several hedge funds have recently added to or reduced their stakes in DHC. Allspring Global Investments Holdings LLC lifted its holdings in Diversified Healthcare Trust by 99.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,300 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 7,629 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Diversified Healthcare Trust during the 1st quarter worth $187,000. Atomi Financial Group Inc. bought a new position in Diversified Healthcare Trust during the 1st quarter worth $46,000. CANADA LIFE ASSURANCE Co increased its position in Diversified Healthcare Trust by 2.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 245,882 shares of the real estate investment trust’s stock worth $602,000 after buying an additional 4,974 shares during the period. Finally, Black Maple Capital Management LP bought a new position in Diversified Healthcare Trust during the 1st quarter worth $246,000. Institutional investors and hedge funds own 75.98% of the company’s stock.

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.