211,155 Diversified Healthcare Trust $DHC Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• VIRGINIA RETIREMENT SYSTEMS ET Al cut its DHC holdings by 95%, selling 211,155 shares in the third quarter and retaining 11,200 shares valued at about $88,000.
• Diversified Healthcare Trust reported a quarterly loss of $0.21 per share, missing the $0.15 loss analysts expected; revenue of $367.67 million also came in below estimates.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $9.83. DHC also declared a quarterly dividend of $0.01 per share, equivalent to a 0.6% annualized yield.

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its holdings in shares of Diversified Healthcare Trust (NASDAQ:DHC - Free Report) by 95.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,200 shares of the real estate investment trust's stock after selling 211,155 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Diversified Healthcare Trust were worth $88,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Cim Investment Management Inc. increased its stake in Diversified Healthcare Trust by 7.4% in the second quarter. Cim Investment Management Inc. now owns 50,105 shares of the real estate investment trust's stock valued at $466,000 after acquiring an additional 3,461 shares during the period. Sterling Capital Management LLC bought a new position in Diversified Healthcare Trust during the third quarter worth about $34,000. KBC Group NV bought a new position in Diversified Healthcare Trust during the first quarter worth about $35,000. Western Wealth Management LLC acquired a new stake in Diversified Healthcare Trust during the first quarter valued at approximately $38,000. Finally, GAMMA Investing LLC acquired a new stake in Diversified Healthcare Trust during the third quarter valued at approximately $46,000. 75.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DHC. Weiss Ratings reiterated a "sell (d-)" rating on shares of Diversified Healthcare Trust in a research note on Thursday, October 15th. Wall Street Zen upgraded Diversified Healthcare Trust from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Freedom Broker initiated coverage on Diversified Healthcare Trust in a research report on Tuesday, November 3rd. They set a "strong-buy" rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $9.83.

Diversified Healthcare Trust Stock Performance

Shares of Diversified Healthcare Trust stock opened at $7.02 on Monday. Diversified Healthcare Trust has a 12-month low of $4.30 and a 12-month high of $9.66. The stock has a market capitalization of $1.70 billion, a P/E ratio of -10.97 and a beta of 2.34. The company has a 50-day simple moving average of $7.70 and a 200 day simple moving average of $7.79. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 1.57.

Diversified Healthcare Trust (NASDAQ:DHC - Get Free Report) last released its quarterly earnings results on Monday, November 2nd. The real estate investment trust reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.06). The firm had revenue of $367.67 million during the quarter, compared to analyst estimates of $370.87 million. Diversified Healthcare Trust had a negative net margin of 10.29% and a negative return on equity of 9.51%. Research analysts expect that Diversified Healthcare Trust will post 0.49 earnings per share for the current fiscal year.

Diversified Healthcare Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Monday, October 19th will be paid a $0.01 dividend. The ex-dividend date is Monday, October 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.6%. Diversified Healthcare Trust's payout ratio is -6.25%.

About Diversified Healthcare Trust

Diversified Healthcare Trust NASDAQ: DHC is a real estate investment trust that owns and manages healthcare-related properties in the United States. Its portfolio includes medical office buildings, life science and research facilities, senior living communities, and wellness-oriented properties.

The trust leases its properties to healthcare providers, research organizations, senior living operators, and other related businesses. Its medical office and life science properties support outpatient care, medical research, and healthcare innovation, while its senior living portfolio serves older adults through independent living, assisted living, and related care services.

DHC was formerly known as Senior Housing Properties Trust and adopted its current name in 2020 to reflect its broader healthcare real estate strategy.

Want to see what other hedge funds are holding DHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diversified Healthcare Trust (NASDAQ:DHC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.