Millennium Management LLC Cuts Stake in Diversified Healthcare Trust (NASDAQ:DHC)

Millennium Management LLC reduced its stake in Diversified Healthcare Trust (NASDAQ:DHC - Free Report) by 71.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 180,670 shares of the real estate investment trust's stock after selling 455,796 shares during the period. Millennium Management LLC owned 0.07% of Diversified Healthcare Trust worth $416,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DHC. BlackBarn Capital Partners LP boosted its holdings in shares of Diversified Healthcare Trust by 41.8% in the fourth quarter. BlackBarn Capital Partners LP now owns 6,250,000 shares of the real estate investment trust's stock valued at $14,375,000 after acquiring an additional 1,841,503 shares during the period. Geode Capital Management LLC grew its position in Diversified Healthcare Trust by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 5,696,513 shares of the real estate investment trust's stock worth $13,105,000 after purchasing an additional 29,062 shares during the last quarter. Northern Trust Corp increased its stake in Diversified Healthcare Trust by 9.6% in the fourth quarter. Northern Trust Corp now owns 2,134,083 shares of the real estate investment trust's stock valued at $4,908,000 after purchasing an additional 187,208 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Diversified Healthcare Trust by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,060,326 shares of the real estate investment trust's stock valued at $4,738,000 after buying an additional 89,415 shares during the last quarter. Finally, CastleKnight Management LP boosted its stake in shares of Diversified Healthcare Trust by 30.1% during the fourth quarter. CastleKnight Management LP now owns 1,845,842 shares of the real estate investment trust's stock worth $4,245,000 after buying an additional 427,400 shares during the period. Institutional investors and hedge funds own 75.98% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Wall Street Zen raised Diversified Healthcare Trust from a "sell" rating to a "hold" rating in a research note on Thursday, April 10th. B. Riley initiated coverage on shares of Diversified Healthcare Trust in a research report on Thursday, April 3rd. They issued a "buy" rating and a $4.50 price objective on the stock.

Diversified Healthcare Trust Price Performance

Diversified Healthcare Trust stock traded up $0.04 during midday trading on Friday, reaching $3.48. The company's stock had a trading volume of 1,510,258 shares, compared to its average volume of 985,829. Diversified Healthcare Trust has a fifty-two week low of $2.00 and a fifty-two week high of $4.24. The company has a debt-to-equity ratio of 1.44, a quick ratio of 11.57 and a current ratio of 11.57. The firm has a market capitalization of $839.55 million, a PE ratio of -2.16 and a beta of 2.45. The stock's 50 day simple moving average is $2.74 and its 200 day simple moving average is $2.55.

Diversified Healthcare Trust (NASDAQ:DHC - Get Free Report) last posted its earnings results on Monday, May 5th. The real estate investment trust reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. Diversified Healthcare Trust had a negative net margin of 26.09% and a negative return on equity of 17.55%. The firm had revenue of $386.86 million during the quarter, compared to the consensus estimate of $381.19 million.

Diversified Healthcare Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 22nd were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Tuesday, April 22nd. Diversified Healthcare Trust's payout ratio is -3.28%.

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.