Bank of New York Mellon Corp Makes New $22.10 Million Investment in Diversified Healthcare Trust $DHC

Key Points

• Bank of New York Mellon acquired 2.38 million shares of Diversified Healthcare Trust, valued at approximately $22.1 million, representing about 0.98% of the REIT. Institutional investors collectively own 75.98% of the company.
• DHC reported a quarterly loss of $0.16 per share, missing estimates by $0.01, while revenue of $365.39 million also fell short of consensus expectations. Shares recently traded at $7.65, below their 50-day average of $8.82.
• Analyst sentiment remains mixed but leans positive, with a consensus rating of “Moderate Buy” and an average price target of $9.83. The company also maintains a quarterly dividend of $0.01 per share, equivalent to a 0.5% annual yield.

Bank of New York Mellon Corp purchased a new stake in Diversified Healthcare Trust (NASDAQ:DHC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,376,453 shares of the real estate investment trust's stock, valued at approximately $22,101,000. Bank of New York Mellon Corp owned approximately 0.98% of Diversified Healthcare Trust as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Diversified Healthcare Trust by 6.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,399,804 shares of the real estate investment trust's stock valued at $15,935,000 after purchasing an additional 138,708 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Diversified Healthcare Trust by 90.4% in the 1st quarter. Bank of America Corp DE now owns 2,682,265 shares of the real estate investment trust's stock worth $17,810,000 after purchasing an additional 1,273,681 shares in the last quarter. Amundi bought a new position in shares of Diversified Healthcare Trust during the 1st quarter valued at about $847,000. Militia Capital Management LLC bought a new position in shares of Diversified Healthcare Trust during the 1st quarter valued at about $1,422,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Diversified Healthcare Trust by 30.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,354,824 shares of the real estate investment trust's stock valued at $15,636,000 after buying an additional 552,794 shares in the last quarter. Institutional investors own 75.98% of the company's stock.

Diversified Healthcare Trust Price Performance

Shares of Diversified Healthcare Trust stock opened at $7.65 on Monday. The company has a current ratio of 4.66, a quick ratio of 4.67 and a debt-to-equity ratio of 1.52. The company's fifty day simple moving average is $8.82 and its two-hundred day simple moving average is $8.02. The company has a market cap of $1.85 billion, a P/E ratio of -6.89 and a beta of 2.30. Diversified Healthcare Trust has a 12-month low of $3.64 and a 12-month high of $9.66.

Diversified Healthcare Trust (NASDAQ:DHC - Get Free Report) last announced its earnings results on Monday, August 3rd. The real estate investment trust reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.01). Diversified Healthcare Trust had a negative net margin of 17.73% and a negative return on equity of 16.22%. The company had revenue of $365.39 million for the quarter, compared to the consensus estimate of $370.75 million. Research analysts anticipate that Diversified Healthcare Trust will post 0.6 EPS for the current year.

Diversified Healthcare Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, July 20th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, July 20th. Diversified Healthcare Trust's dividend payout ratio is presently -3.60%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Maxim Group increased their price target on shares of Diversified Healthcare Trust from $10.00 to $10.50 and gave the company a "buy" rating in a research report on Wednesday, June 3rd. Weiss Ratings restated a "sell (d-)" rating on shares of Diversified Healthcare Trust in a report on Friday, July 17th. B. Riley Financial increased their target price on shares of Diversified Healthcare Trust from $8.50 to $11.00 and gave the company a "buy" rating in a report on Tuesday, June 9th. Wall Street Zen raised shares of Diversified Healthcare Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Royal Bank Of Canada boosted their price target on shares of Diversified Healthcare Trust from $6.00 to $8.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $9.83.

About Diversified Healthcare Trust

Diversified Healthcare Trust is a real estate investment trust (REIT) specializing in the acquisition, ownership and management of healthcare properties across the United States. The company focuses on assets that serve the senior housing and post-acute care sectors, including skilled nursing facilities, assisted living communities, memory care centers and medical office buildings. By partnering with experienced operators, Diversified Healthcare Trust aims to generate stable, long-term cash flows through triple-net leases and percentage rent structures tailored to each property type.

The company's portfolio spans multiple states and encompasses a mix of single-tenant and multi-tenant properties.

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