Diversified Healthcare Trust (NASDAQ:DHC) Shares Down 3.8% – Here’s What Happened

Diversified Healthcare Trust (NASDAQ:DHC) shares were down 3.8% during mid-day trading on Monday . The stock traded as low as $3.54 and last traded at $3.54. Approximately 112,149 shares changed hands during trading, a decline of 89% from the average daily volume of 1,044,861 shares. The stock had previously closed at $3.68.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DHC shares. StockNews.com cut shares of Diversified Healthcare Trust from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. B. Riley raised their price objective on shares of Diversified Healthcare Trust from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Monday, August 5th. JMP Securities reiterated a “market perform” rating on shares of Diversified Healthcare Trust in a report on Wednesday, August 21st. Finally, Royal Bank of Canada raised their target price on Diversified Healthcare Trust from $2.00 to $3.00 and gave the company an “underperform” rating in a research note on Monday.

Diversified Healthcare Trust Stock Performance

The company has a debt-to-equity ratio of 1.36, a current ratio of 11.63 and a quick ratio of 11.63. The business has a 50 day moving average price of $3.52 and a 200 day moving average price of $3.02. The stock has a market capitalization of $911.76 million, a PE ratio of -2.55 and a beta of 2.22.

Diversified Healthcare Trust (NASDAQ:DHC) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.44). Diversified Healthcare Trust had a negative return on equity of 15.36% and a negative net margin of 24.14%. The firm had revenue of $371.39 million during the quarter, compared to the consensus estimate of $372.11 million. During the same quarter in the prior year, the company posted $0.05 EPS. As a group, equities research analysts expect that Diversified Healthcare Trust will post 0.2 earnings per share for the current year.

Institutional Investors Weigh In On Diversified Healthcare Trust

Large investors have recently bought and sold shares of the business. BlackBarn Capital Partners LP lifted its stake in Diversified Healthcare Trust by 128.6% during the 2nd quarter. BlackBarn Capital Partners LP now owns 4,000,000 shares of the real estate investment trust’s stock valued at $12,200,000 after acquiring an additional 2,250,000 shares during the period. Atomi Financial Group Inc. bought a new stake in Diversified Healthcare Trust in the 1st quarter worth approximately $46,000. Allspring Global Investments Holdings LLC grew its position in Diversified Healthcare Trust by 99.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,300 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 7,629 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Diversified Healthcare Trust during the 1st quarter valued at $187,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Diversified Healthcare Trust by 2.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 245,882 shares of the real estate investment trust’s stock valued at $602,000 after buying an additional 4,974 shares during the period. 75.98% of the stock is currently owned by institutional investors.

About Diversified Healthcare Trust

DHC is a real estate investment trust, or REIT, focused on owning high-quality healthcare properties located throughout the United States. DHC seeks diversification across the health services spectrum by care delivery and practice type, by scientific research disciplines and by property type and location.