Diversified Healthcare Trust (NASDAQ:DHC) Shares Up 6% on Analyst Upgrade

Shares of Diversified Healthcare Trust (NASDAQ:DHC) traded up 6% during mid-day trading on Thursday after Royal Bank Of Canada upgraded the stock from an underperform rating to a sector perform rating. Royal Bank Of Canada now has a $5.00 price target on the stock, up from their previous price target of $3.00. Diversified Healthcare Trust traded as high as $4.90 and last traded at $4.8440. 525,654 shares traded hands during trading, a decline of 41% from the average session volume of 893,775 shares. The stock had previously closed at $4.57.

Several other research firms also recently commented on DHC. B. Riley increased their price objective on Diversified Healthcare Trust from $4.50 to $5.50 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Diversified Healthcare Trust in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.25.

Institutional Trading of Diversified Healthcare Trust

Several hedge funds have recently made changes to their positions in DHC. Raymond James Financial Inc. purchased a new stake in shares of Diversified Healthcare Trust during the 2nd quarter valued at approximately $28,000. Chicago Partners Investment Group LLC acquired a new stake in Diversified Healthcare Trust during the first quarter worth $34,000. Farther Finance Advisors LLC raised its position in Diversified Healthcare Trust by 169.2% in the second quarter. Farther Finance Advisors LLC now owns 10,161 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 6,387 shares during the period. Brooklyn Investment Group lifted its stake in shares of Diversified Healthcare Trust by 296.3% in the 1st quarter. Brooklyn Investment Group now owns 18,174 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 13,588 shares during the last quarter. Finally, Ground Swell Capital LLC purchased a new position in shares of Diversified Healthcare Trust during the 1st quarter worth $45,000. Hedge funds and other institutional investors own 75.98% of the company’s stock.

Diversified Healthcare Trust Trading Down 2.9%

The business has a fifty day moving average price of $4.34 and a two-hundred day moving average price of $3.72. The company has a current ratio of 6.35, a quick ratio of 6.35 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $1.12 billion, a PE ratio of -3.89 and a beta of 2.61.

Diversified Healthcare Trust (NASDAQ:DHC) last posted its earnings results on Monday, June 2nd. The real estate investment trust reported $0.01 EPS for the quarter. Diversified Healthcare Trust had a negative net margin of 18.83% and a negative return on equity of 14.69%. The company had revenue of $370.78 million for the quarter.

Diversified Healthcare Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, October 27th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, October 27th. Diversified Healthcare Trust’s dividend payout ratio (DPR) is -2.74%.

Diversified Healthcare Trust Company 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.