Hennessy Advisors Inc. Buys 1,099,800 Shares of Diversified Healthcare Trust $DHC

Key Points

• Hennessy Advisors acquired 1,099,800 shares of Diversified Healthcare Trust in the third quarter, worth approximately $8.6 million and representing a 0.45% stake.
• Institutional investors own 75.98% of DHC, while analyst coverage remains mixed; the stock carries a consensus “Moderate Buy” rating with a $9.83 target price.
• DHC recently reported a quarterly loss of $0.16 per share, slightly below estimates, and announced a quarterly dividend of $0.01 per share, equating to a 0.5% annualized yield.

Hennessy Advisors Inc. bought a new position in Diversified Healthcare Trust (NASDAQ:DHC - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,099,800 shares of the real estate investment trust's stock, valued at approximately $8,633,000. Hennessy Advisors Inc. owned 0.45% of Diversified Healthcare Trust as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC acquired a new position in shares of Diversified Healthcare Trust during the third quarter worth about $34,000. Summit Securities Group LLC acquired a new stake in Diversified Healthcare Trust in the first quarter valued at about $31,000. KBC Group NV acquired a new stake in Diversified Healthcare Trust in the first quarter valued at about $35,000. Western Wealth Management LLC acquired a new stake in Diversified Healthcare Trust in the first quarter valued at about $38,000. Finally, GAMMA Investing LLC purchased a new stake in Diversified Healthcare Trust in the 3rd quarter valued at approximately $46,000. Hedge funds and other institutional investors own 75.98% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DHC. Weiss Ratings reissued a "sell (d-)" rating on shares of Diversified Healthcare Trust in a research note on Thursday, October 15th. Wall Street Zen raised Diversified Healthcare Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $9.83.

Diversified Healthcare Trust Stock Performance

NASDAQ:DHC opened at $7.78 on Monday. The firm's fifty day simple moving average is $7.77 and its 200-day simple moving average is $7.75. The company has a quick ratio of 4.67, a current ratio of 4.66 and a debt-to-equity ratio of 1.52. The stock has a market cap of $1.88 billion, a PE ratio of -7.01 and a beta of 2.29. Diversified Healthcare Trust has a fifty-two week low of $3.92 and a fifty-two week high of $9.66.

Diversified Healthcare Trust (NASDAQ:DHC - Get Free Report) last announced its quarterly earnings data 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). 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 during the quarter, compared to analyst estimates of $370.75 million. Analysts expect that Diversified Healthcare Trust will post 0.60 earnings per share for the current fiscal year.

Diversified Healthcare Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Monday, October 19th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, October 19th. Diversified Healthcare Trust's dividend payout ratio (DPR) is presently -3.60%.

Diversified Healthcare Trust Company Profile

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.

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