Bank of America Corp DE raised its stake in shares of Diversified Healthcare Trust (NASDAQ:DHC - Free Report) by 90.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,682,265 shares of the real estate investment trust's stock after buying an additional 1,273,681 shares during the period. Bank of America Corp DE owned approximately 1.11% of Diversified Healthcare Trust worth $17,810,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Diversified Healthcare Trust by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 19,768,282 shares of the real estate investment trust's stock worth $95,876,000 after purchasing an additional 205,285 shares during the period. Carronade Capital Management LP increased its stake in Diversified Healthcare Trust by 10.6% in the 1st quarter. Carronade Capital Management LP now owns 5,268,435 shares of the real estate investment trust's stock worth $34,982,000 after purchasing an additional 504,898 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Diversified Healthcare Trust by 13.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,108,830 shares of the real estate investment trust's stock worth $24,778,000 after purchasing an additional 619,750 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Diversified Healthcare Trust by 158.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,862,334 shares of the real estate investment trust's stock worth $9,270,000 after buying an additional 2,370,459 shares during the period. Finally, Centersquare Investment Management LLC raised its holdings in Diversified Healthcare Trust by 123.1% during the 4th quarter. Centersquare Investment Management LLC now owns 3,229,172 shares of the real estate investment trust's stock worth $15,661,000 after buying an additional 1,781,839 shares during the period. 75.98% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
DHC has been the subject of several research analyst reports. B. Riley Financial increased their price objective on Diversified Healthcare Trust from $8.50 to $11.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Royal Bank Of Canada lifted their target price on Diversified Healthcare Trust from $6.00 to $8.00 and gave the company a "sector perform" rating in a research note on Thursday, June 18th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Diversified Healthcare Trust in a report on Friday, July 17th. Maxim Group increased their price target on shares of Diversified Healthcare Trust from $10.00 to $10.50 and gave the stock a "buy" rating in a research report on Wednesday, June 3rd. Finally, Wall Street Zen upgraded shares of Diversified Healthcare Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Diversified Healthcare Trust has an average rating of "Moderate Buy" and a consensus price target of $9.83.
Check Out Our Latest Research Report on Diversified Healthcare Trust
Diversified Healthcare Trust Price Performance
Shares of DHC opened at $8.10 on Thursday. The firm has a market cap of $1.96 billion, a PE ratio of -7.30 and a beta of 2.30. The firm's 50 day moving average price is $8.94 and its 200 day moving average price is $7.93. The company has a debt-to-equity ratio of 1.52, a quick ratio of 4.67 and a current ratio of 4.66. Diversified Healthcare Trust has a twelve month low of $3.43 and a twelve month high of $9.66.
Diversified Healthcare Trust (NASDAQ:DHC - Get Free Report) last posted its earnings results on Monday, August 3rd. The real estate investment trust reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The business had revenue of $365.39 million during the quarter, compared to the consensus estimate of $370.75 million. Diversified Healthcare Trust had a negative return on equity of 16.22% and a negative net margin of 17.73%. As a group, research analysts expect that Diversified Healthcare Trust will post 0.6 EPS for the current fiscal year.
Diversified Healthcare Trust Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, July 20th were given a dividend of $0.01 per share. 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%.
About Diversified Healthcare Trust
(
Free Report)
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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