Diversified Healthcare Trust (NASDAQ:DHC) Shares Gap Up to $2.64

Diversified Healthcare Trust (NASDAQ:DHC) shares gapped up before the market opened on Wednesday . The stock had previously closed at $2.53, but opened at $2.64. Diversified Healthcare Trust shares last traded at $3.01, with a volume of 2,871,320 shares changing hands.

DHC has been the subject of a number of recent analyst reports. Zacks Investment Research cut Diversified Healthcare Trust from a “hold” rating to a “strong sell” rating in a report on Monday, March 9th. B. Riley dropped their price objective on Diversified Healthcare Trust from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Raymond James upgraded Diversified Healthcare Trust from an “underperform” rating to a “market perform” rating in a report on Tuesday, January 7th. TheStreet cut Diversified Healthcare Trust from a “c-” rating to a “d+” rating in a report on Thursday, March 12th. Finally, Wells Fargo & Co cut Diversified Healthcare Trust from an “overweight” rating to an “equal weight” rating and set a $9.00 target price for the company. in a report on Friday, January 17th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $8.85.

The firm has a market capitalization of $650.81 million, a PE ratio of -8.13 and a beta of 1.24. The company has a fifty day simple moving average of $4.71 and a two-hundred day simple moving average of $7.44. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.65 and a current ratio of 1.65.

Diversified Healthcare Trust (NASDAQ:DHC) last issued its earnings results on Monday, March 2nd. The real estate investment trust reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.25). The firm had revenue of $256.00 million during the quarter, compared to analysts’ expectations of $250.97 million. Diversified Healthcare Trust had a negative return on equity of 2.86% and a negative net margin of 8.48%. Diversified Healthcare Trust’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 earnings per share. On average, equities analysts anticipate that Diversified Healthcare Trust will post 1.04 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Monday, April 13th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Thursday, April 9th. Diversified Healthcare Trust’s payout ratio is 45.80%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DHC. FMR LLC bought a new position in shares of Diversified Healthcare Trust in the 4th quarter worth $31,701,000. Nuveen Asset Management LLC bought a new position in shares of Diversified Healthcare Trust in the 4th quarter worth $10,306,000. New York State Teachers Retirement System bought a new position in shares of Diversified Healthcare Trust in the 4th quarter worth $3,847,000. SeaBridge Investment Advisors LLC acquired a new position in Diversified Healthcare Trust during the 4th quarter valued at about $2,579,000. Finally, Millennium Management LLC acquired a new position in Diversified Healthcare Trust during the 3rd quarter valued at about $2,660,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Diversified Healthcare Trust Company Profile (NASDAQ:DHC)

Diversified Healthcare Trust (Nasdaq: DHC) is a healthcare Real Estate Investment Trust, or REIT, which owns office buildings leased to medical providers, medical related businesses, clinics and biotech laboratory tenants; senior living communities; as well as wellness centers.

Read More: Hold Rating

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