Diversified Healthcare Trust (NASDAQ:DHC) Stock Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• DHC shares moved above their 50-day moving average, reaching $7.84 before closing at $7.80 on trading volume of about 2.85 million shares.
• Analyst sentiment is mixed but leans positive: the stock has a consensus “Moderate Buy” rating and a $9.83 price target, despite one recent “Sell” rating.
• DHC reported a quarterly loss of $0.16 per share, slightly worse than estimates, and announced a $0.01 quarterly dividend. Institutional investors own approximately 76% of the company.

Diversified Healthcare Trust (NASDAQ:DHC - Get Free Report)'s stock price passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $7.78 and traded as high as $7.84. Diversified Healthcare Trust shares last traded at $7.80, with a volume of 2,846,831 shares trading hands.

Analyst Ratings Changes

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

Diversified Healthcare Trust Stock Performance

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 $1.89 billion, a price-to-earnings ratio of -7.03 and a beta of 2.29. The company has a 50 day simple moving average of $7.78 and a 200 day simple moving average of $7.72.

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 analysts' consensus estimates of ($0.15) by ($0.01). Diversified Healthcare Trust had a negative return on equity of 16.22% and a negative net margin of 17.73%. The company had revenue of $365.39 million during the quarter, compared to the consensus estimate of $370.75 million. As a group, equities research analysts forecast that Diversified Healthcare Trust will post 0.60 EPS for the current year.

Diversified Healthcare Trust Dividend Announcement

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

Institutional Trading of Diversified Healthcare Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Carronade Capital Management LP raised its position in Diversified Healthcare Trust by 10.6% in the first quarter. Carronade Capital Management LP now owns 5,268,435 shares of the real estate investment trust's stock valued at $34,982,000 after purchasing an additional 504,898 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Diversified Healthcare Trust during the second quarter worth about $22,101,000. Bank of America Corp DE increased its stake in shares of Diversified Healthcare Trust by 90.4% in the first quarter. Bank of America Corp DE now owns 2,682,265 shares of the real estate investment trust's stock valued at $17,810,000 after buying an additional 1,273,681 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Diversified Healthcare Trust by 231.8% in the second quarter. Allianz Asset Management GmbH now owns 1,767,596 shares of the real estate investment trust's stock valued at $16,439,000 after buying an additional 1,234,822 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Diversified Healthcare Trust by 6.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,399,804 shares of the real estate investment trust's stock valued at $15,935,000 after buying an additional 138,708 shares during the last quarter. Institutional investors own 75.98% of the company's stock.

About Diversified Healthcare Trust

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.