Diversified Healthcare Trust (NASDAQ:DHC) Trading Up 10% - What's Next?

Key Points

• Diversified Healthcare Trust shares surged 10% to $3.71 during trading, with a significant drop in average daily volume to 344,545 shares.
• The company reported a quarterly EPS of $0.08, meeting analysts' expectations, and a revenue of $382.71 million for the quarter.
• A quarterly dividend of $0.01 per share has been declared, providing a 1.1% yield, although the company's dividend payout ratio is currently negative.

Diversified Healthcare Trust (NASDAQ:DHC - Get Free Report) shares rose 10% during trading on Tuesday . The stock traded as high as $3.64 and last traded at $3.71. Approximately 344,545 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 942,166 shares. The stock had previously closed at $3.37.

Diversified Healthcare Trust Stock Up 8.0%

The company has a debt-to-equity ratio of 1.42, a quick ratio of 6.35 and a current ratio of 6.35. The firm has a fifty day moving average price of $3.52 and a 200 day moving average price of $2.92. The firm has a market capitalization of $878.73 million, a price-to-earnings ratio of -3.06 and a beta of 2.52.

Diversified Healthcare Trust (NASDAQ:DHC - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $382.71 million during the quarter, compared to analysts' expectations of $382.74 million. Diversified Healthcare Trust had a negative return on equity of 14.69% and a negative net margin of 18.83%.

Diversified Healthcare Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, July 21st will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.04 annualized dividend and a yield of 1.1%. Diversified Healthcare Trust's dividend payout ratio (DPR) is presently -3.36%.

Hedge Funds Weigh In On Diversified Healthcare Trust

Several hedge funds have recently bought and sold shares of DHC. BlackBarn Capital Partners LP grew its position in Diversified Healthcare Trust by 41.8% during the fourth quarter. BlackBarn Capital Partners LP now owns 6,250,000 shares of the real estate investment trust's stock valued at $14,375,000 after acquiring an additional 1,841,503 shares during the period. Geode Capital Management LLC grew its stake in shares of Diversified Healthcare Trust by 0.8% in the second 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 buying an additional 44,759 shares in the last quarter. Goldman Sachs Group Inc. grew its stake 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 in the last quarter. Park West Asset Management LLC purchased a new position in Diversified Healthcare Trust in the first quarter valued at about $8,583,000. Finally, Northern Trust Corp boosted its holdings in Diversified Healthcare Trust by 9.6% in the fourth quarter. Northern Trust Corp now owns 2,134,083 shares of the real estate investment trust's stock valued at $4,908,000 after purchasing an additional 187,208 shares during the last quarter. Hedge funds and other institutional investors own 75.98% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.