Carronade Capital Management LP Takes Position in Diversified Healthcare Trust $DHC

Key Points

• Carronade Capital Management LP has invested approximately $4.86 million in Diversified Healthcare Trust, acquiring over 2 million shares, making it the firm's 26th largest position.
• Institutional investors hold 75.98% of Diversified Healthcare Trust's stock, with several major players recently increasing their stakes in the real estate investment trust.
• The company reported a $0.08 EPS in its quarterly earnings, meeting analysts' expectations, but noted a negative net margin of 18.83%.

Carronade Capital Management LP purchased a new position in shares of Diversified Healthcare Trust (NASDAQ:DHC - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,023,940 shares of the real estate investment trust's stock, valued at approximately $4,857,000. Diversified Healthcare Trust comprises 0.3% of Carronade Capital Management LP's holdings, making the stock its 26th largest position. Carronade Capital Management LP owned 0.84% of Diversified Healthcare Trust as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of DHC. Chicago Partners Investment Group LLC acquired a new stake in shares of Diversified Healthcare Trust during the 1st quarter worth about $34,000. Deerfield Management Company L.P. Series C acquired a new stake in shares of Diversified Healthcare Trust during the 4th quarter worth about $36,000. Boothbay Fund Management LLC acquired a new stake in shares of Diversified Healthcare Trust during the 4th quarter worth about $41,000. Brooklyn Investment Group raised its position in shares of Diversified Healthcare Trust by 296.3% during the 1st quarter. Brooklyn Investment Group now owns 18,174 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 13,588 shares in the last quarter. Finally, Ground Swell Capital LLC acquired a new stake in shares of Diversified Healthcare Trust during the 1st quarter worth about $45,000. 75.98% of the stock is owned by hedge funds and other institutional investors.

Diversified Healthcare Trust Stock Up 5.9%

Shares of NASDAQ DHC traded up $0.23 during midday trading on Friday, hitting $4.12. 1,191,597 shares of the company's stock were exchanged, compared to its average volume of 913,356. The company has a market cap of $994.61 million, a PE ratio of -3.46 and a beta of 2.62. The company has a debt-to-equity ratio of 1.42, a current ratio of 6.35 and a quick ratio of 6.35. Diversified Healthcare Trust has a twelve month low of $2.00 and a twelve month high of $4.24. The firm's fifty day simple moving average is $3.58 and its 200-day simple moving average is $3.05.

Diversified Healthcare Trust (NASDAQ:DHC - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $382.71 million for 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 firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, July 21st were given a dividend of $0.01 per share. The ex-dividend date was Monday, July 21st. This represents a $0.04 annualized dividend and a yield of 1.0%. Diversified Healthcare Trust's payout ratio is presently -3.36%.

Diversified Healthcare Trust Profile

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.