Diversified Healthcare Trust (NASDAQ:DHC) Shares Up 9.6% Following Dividend Announcement

Shares of Diversified Healthcare Trust (NASDAQ:DHC) were up 9.6% during mid-day trading on Friday after the company announced a dividend. The company traded as high as $5.98 and last traded at $6.0260. Approximately 2,670,843 shares changed hands during trading, an increase of 71% from the average daily volume of 1,563,038 shares. The stock had previously closed at $5.50.

The newly announced dividend which will be paid on Thursday, February 19th. Stockholders of record on Monday, January 26th will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, January 26th. This represents a $0.04 annualized dividend and a dividend yield of 0.7%. Diversified Healthcare Trust’s dividend payout ratio is -2.74%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. B. Riley reiterated a “buy” rating and issued a $6.50 price objective (up from $5.50) on shares of Diversified Healthcare Trust in a research report on Monday, December 15th. Royal Bank Of Canada upgraded shares of Diversified Healthcare Trust from an “underperform” rating to a “sector perform” rating and boosted their price objective for the stock from $3.00 to $5.00 in a research report on Thursday, November 13th. Finally, Weiss Ratings reissued 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 assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.75.

Diversified Healthcare Trust Price Performance

The company has a quick ratio of 16.89, a current ratio of 16.89 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $1.45 billion, a P/E ratio of -4.10 and a beta of 2.42. The business has a 50 day simple moving average of $4.88 and a 200-day simple moving average of $4.25.

Diversified Healthcare Trust (NASDAQ:DHC) last issued its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). Diversified Healthcare Trust had a negative return on equity of 18.90% and a negative net margin of 22.90%.The company had revenue of $388.71 million during the quarter, compared to analyst estimates of $382.10 million.

Insider Transactions at Diversified Healthcare Trust

In other Diversified Healthcare Trust news, CEO Christopher J. Bilotto acquired 20,000 shares of Diversified Healthcare Trust stock in a transaction that occurred on Monday, December 15th. The stock was acquired at an average price of $4.89 per share, with a total value of $97,800.00. Following the purchase, the chief executive officer owned 266,285 shares in the company, valued at approximately $1,302,133.65. This trade represents a 8.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Diversified Healthcare Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Prudential Financial Inc. boosted its holdings in shares of Diversified Healthcare Trust by 7.7% in the second quarter. Prudential Financial Inc. now owns 2,129,197 shares of the real estate investment trust’s stock valued at $7,623,000 after buying an additional 151,479 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of 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 last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Diversified Healthcare Trust by 22.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,890,628 shares of the real estate investment trust’s stock worth $6,768,000 after purchasing an additional 345,110 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Diversified Healthcare Trust by 0.8% during 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. Finally, Carronade Capital Management LP boosted its holdings in Diversified Healthcare Trust by 588.7% during the second quarter. Carronade Capital Management LP now owns 1,618,448 shares of the real estate investment trust’s stock worth $5,794,000 after purchasing an additional 1,383,448 shares during the last quarter. 75.98% of the stock is owned by institutional investors and hedge funds.

About Diversified Healthcare Trust

Diversified Healthcare Trust is a real estate investment trust (REIT) specializing in the acquisition, ownership and management of healthcare properties across the United States. The company focuses on assets that serve the senior housing and post-acute care sectors, including skilled nursing facilities, assisted living communities, memory care centers and medical office buildings. By partnering with experienced operators, Diversified Healthcare Trust aims to generate stable, long-term cash flows through triple-net leases and percentage rent structures tailored to each property type.

The company’s portfolio spans multiple states and encompasses a mix of single-tenant and multi-tenant properties.