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

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

Other hedge funds have also recently modified their holdings of the company. ING Groep NV purchased a new position in Diversified Healthcare Trust in the fourth quarter valued at $460,000. Proficio Capital Partners LLC purchased a new position in shares of Diversified Healthcare Trust in the 4th quarter valued at about $44,000. Cibc World Markets Corp purchased a new position in Diversified Healthcare Trust during the fourth quarter worth approximately $990,000. Thrivent Financial for Lutherans purchased a new position in Diversified Healthcare Trust during the fourth quarter worth approximately $243,000. Finally, Intech Investment Management LLC grew its holdings in Diversified Healthcare Trust by 132.4% in the fourth quarter. Intech Investment Management LLC now owns 103,558 shares of the real estate investment trust's stock valued at $238,000 after purchasing an additional 59,006 shares during the period. Hedge funds and other institutional investors own 75.98% of the company's stock.

Diversified Healthcare Trust Price Performance

Shares of DHC stock traded down $0.04 during trading hours on Tuesday, reaching $3.35. The company had a trading volume of 469,639 shares, compared to its average volume of 984,457. Diversified Healthcare Trust has a 12-month low of $2.00 and a 12-month high of $4.24. The company has a market capitalization of $808.19 million, a price-to-earnings ratio of -2.08 and a beta of 2.45. 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 stock has a fifty day moving average of $2.68 and a 200-day moving average of $2.53.

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

Diversified Healthcare Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 22nd were issued a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $0.04 annualized dividend and a yield of 1.19%. Diversified Healthcare Trust's dividend payout ratio (DPR) is currently -3.28%.

Wall Street Analyst Weigh In

DHC has been the topic of a number of recent analyst reports. B. Riley started coverage on Diversified Healthcare Trust in a research report on Thursday, April 3rd. They set a "buy" rating and a $4.50 target price on the stock. Wall Street Zen upgraded shares of Diversified Healthcare Trust from a "sell" rating to a "hold" rating in a research report on Thursday, April 10th.

About Diversified Healthcare Trust

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.