Carronade Capital Management LP Grows Position in Diversified Healthcare Trust $DHC

Carronade Capital Management LP grew its holdings in shares of Diversified Healthcare Trust (NASDAQ:DHC) by 588.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,618,448 shares of the real estate investment trust’s stock after acquiring an additional 1,383,448 shares during the quarter. Diversified Healthcare Trust comprises 0.4% of Carronade Capital Management LP’s investment portfolio, making the stock its 23rd largest position. Carronade Capital Management LP’s holdings in Diversified Healthcare Trust were worth $5,794,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Diversified Healthcare Trust by 0.8% in the second quarter. Geode Capital Management LLC now owns 5,847,246 shares of the real estate investment trust’s stock worth $20,936,000 after purchasing an additional 44,759 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Diversified Healthcare Trust by 158.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,862,334 shares of the real estate investment trust’s stock worth $9,270,000 after buying an additional 2,370,459 shares in the last quarter. Park West Asset Management LLC purchased a new position in Diversified Healthcare Trust in the 1st quarter worth approximately $8,583,000. Prudential Financial Inc. increased its holdings in shares of Diversified Healthcare Trust by 7.7% in the 2nd quarter. Prudential Financial Inc. now owns 2,129,197 shares of the real estate investment trust’s stock worth $7,623,000 after buying an additional 151,479 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Diversified Healthcare Trust by 22.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,890,628 shares of the real estate investment trust’s stock valued at $6,768,000 after buying an additional 345,110 shares in the last quarter. Hedge funds and other institutional investors own 75.98% of the company’s stock.

Analysts Set New Price Targets

DHC has been the subject of several research reports. Royal Bank Of Canada upgraded shares of Diversified Healthcare Trust from an “underperform” rating to a “sector perform” rating and upped their target price for the stock from $3.00 to $5.00 in a research report on Thursday, November 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Diversified Healthcare Trust in a report on Wednesday, October 8th. Finally, 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 report on Wednesday, September 17th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.25.

Diversified Healthcare Trust Stock Performance

Diversified Healthcare Trust stock opened at $4.69 on Friday. The firm has a fifty day simple moving average of $4.46 and a two-hundred day simple moving average of $3.99. The company has a quick ratio of 16.89, a current ratio of 16.89 and a debt-to-equity ratio of 1.61. Diversified Healthcare Trust has a twelve month low of $2.00 and a twelve month high of $4.99. The company has a market capitalization of $1.14 billion, a PE ratio of -3.21 and a beta of 2.39.

Diversified Healthcare Trust (NASDAQ:DHC) last released its quarterly earnings data on Monday, June 2nd. The real estate investment trust reported $0.01 EPS for the quarter. Diversified Healthcare Trust had a negative return on equity of 18.90% and a negative net margin of 22.90%.The firm had revenue of $370.78 million for the quarter.

Diversified Healthcare Trust Announces Dividend

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