Diversified Healthcare Trust (NASDAQ:DHC) Short Interest Up 30.9% in January
Diversified Healthcare Trust (NASDAQ:DHC) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 6,060,000 shares, a growth of 30.9% from the January 15th total of 4,630,000 shares. Currently, 2.6% of the shares of the company are sold short. Based on an average daily trading volume, of 1,710,000 shares, the days-to-cover ratio is currently 3.5 days.
Several institutional investors have recently bought and sold shares of the company. Panagora Asset Management Inc. bought a new stake in Diversified Healthcare Trust during the fourth quarter valued at $27,000. Parallel Advisors LLC boosted its stake in Diversified Healthcare Trust by 118.8% during the third quarter. Parallel Advisors LLC now owns 3,790 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 2,058 shares during the period. Flagship Harbor Advisors LLC boosted its stake in Diversified Healthcare Trust by 895.2% during the third quarter. Flagship Harbor Advisors LLC now owns 5,225 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 4,700 shares during the period. Mcmillion Capital Management Inc. bought a new stake in Diversified Healthcare Trust during the fourth quarter valued at $61,000. Finally, Quadrant Capital Group LLC boosted its stake in Diversified Healthcare Trust by 16.4% during the third quarter. Quadrant Capital Group LLC now owns 8,921 shares of the real estate investment trust’s stock valued at $78,000 after buying an additional 1,258 shares during the period. 72.22% of the stock is owned by hedge funds and other institutional investors.
DHC has been the subject of a number of recent research reports. Wells Fargo & Co downgraded Diversified Healthcare Trust from an “overweight” rating to an “equal weight” rating and set a $9.00 target price for the company. in a research report on Friday, January 17th. BidaskClub raised Diversified Healthcare Trust from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. Zacks Investment Research raised Diversified Healthcare Trust from a “hold” rating to a “buy” rating and set a $9.75 price target for the company in a report on Monday, January 20th. Raymond James raised Diversified Healthcare Trust from an “underperform” rating to a “market perform” rating in a report on Tuesday, January 7th. Finally, ValuEngine lowered Diversified Healthcare Trust from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $9.85.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Monday, January 27th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.84%. The ex-dividend date of this dividend is Friday, January 24th. Diversified Healthcare Trust’s payout ratio is currently 37.74%.
About Diversified Healthcare Trust
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.
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