Diversified Healthcare Trust (NASDAQ:DHC) Issues Earnings Results

Key Points

• Diversified Healthcare Trust reported earnings of $0.08 per share for the quarter, matching analysts' expectations, but recorded a negative return on equity of 14.46%.
• The company announced a quarterly dividend of $0.01 per share, scheduled for distribution on August 14th, with a dividend yield of 1.2%.
• Goldman Sachs increased its holdings in Diversified Healthcare Trust by 158.9% during the first quarter, indicating significant institutional interest in the stock.

Diversified Healthcare Trust (NASDAQ:DHC - Get Free Report) posted its quarterly earnings results on Monday. The real estate investment trust reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08, Zacks reports. The business had revenue of $382.71 million during the quarter, compared to the consensus estimate of $382.74 million. Diversified Healthcare Trust had a negative net margin of 18.83% and a negative return on equity of 14.45%.

Diversified Healthcare Trust Stock Down 1.6%

Shares of NASDAQ DHC traded down $0.06 during trading hours on Wednesday, hitting $3.38. 185,989 shares of the stock were exchanged, compared to its average volume of 953,195. The company has a quick ratio of 14.36, a current ratio of 14.36 and a debt-to-equity ratio of 1.44. The company has a market cap of $814.22 million, a PE ratio of -2.84 and a beta of 2.52. The firm has a fifty day moving average price of $3.50 and a 200-day moving average price of $2.88. Diversified Healthcare Trust has a 12 month low of $2.00 and a 12 month high of $4.24.

Diversified Healthcare Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, July 21st will be issued a $0.01 dividend. The ex-dividend date is Monday, July 21st. This represents a $0.04 annualized dividend and a dividend yield of 1.2%. Diversified Healthcare Trust's payout ratio is currently -3.28%.

Institutional Trading of Diversified Healthcare Trust

Large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its holdings in shares of Diversified Healthcare Trust by 158.9% in the 1st 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 acquiring an additional 2,370,459 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Diversified Healthcare Trust by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 130,756 shares of the real estate investment trust's stock valued at $314,000 after purchasing an additional 5,544 shares during the period. Finally, Strs Ohio acquired a new position in shares of Diversified Healthcare Trust in the 1st quarter valued at $103,000. Hedge funds and other institutional investors own 75.98% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Diversified Healthcare Trust from a "sell" rating to a "hold" rating in a report on Thursday, April 10th.

About Diversified Healthcare Trust

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.