Freedom Broker Initiates Coverage on Diversified Healthcare Trust (NASDAQ:DHC)

Investment analysts at Freedom Broker initiated coverage on shares of Diversified Healthcare Trust (NASDAQ:DHC) in a report issued on Tuesday, Zacks reports. The firm set a “strong-buy” rating on the real estate investment trust’s stock.

DHC has been the topic of several other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Diversified Healthcare Trust in a research report on Thursday, October 15th. Wall Street Zen raised Diversified Healthcare Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Diversified Healthcare Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.83.

Diversified Healthcare Trust Price Performance

NASDAQ DHC opened at $7.03 on Tuesday. The company has a market cap of $1.70 billion, a PE ratio of 14.17 and a beta of 2.34. The firm’s 50 day moving average price is $7.72 and its 200-day moving average price is $7.79. The company has a debt-to-equity ratio of 1.57, a quick ratio of 4.67 and a current ratio of 5.32. Diversified Healthcare Trust has a 52-week low of $4.23 and a 52-week high of $9.66.

Diversified Healthcare Trust (NASDAQ:DHC) last issued its quarterly earnings data on Monday, November 2nd. The real estate investment trust reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.06). The business had revenue of $367.67 million during the quarter, compared to the consensus estimate of $370.87 million. Diversified Healthcare Trust had a negative return on equity of 9.51% and a negative net margin of 10.29%. Sell-side analysts forecast that Diversified Healthcare Trust will post 0.49 EPS for the current fiscal year.

Institutional Trading of Diversified Healthcare Trust

A number of institutional investors have recently modified their holdings of DHC. Carronade Capital Management LP grew its position in shares of Diversified Healthcare Trust by 10.6% in the 1st quarter. Carronade Capital Management LP now owns 5,268,435 shares of the real estate investment trust’s stock worth $34,982,000 after buying an additional 504,898 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Diversified Healthcare Trust by 90.4% during the 1st quarter. Bank of America Corp DE now owns 2,682,265 shares of the real estate investment trust’s stock worth $17,810,000 after acquiring an additional 1,273,681 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Diversified Healthcare Trust by 6.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,399,804 shares of the real estate investment trust’s stock worth $15,935,000 after acquiring an additional 138,708 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Diversified Healthcare Trust by 125.1% during the 1st quarter. Bank of New York Mellon Corp now owns 2,390,413 shares of the real estate investment trust’s stock worth $15,872,000 after acquiring an additional 1,328,648 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Diversified Healthcare Trust by 30.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,354,824 shares of the real estate investment trust’s stock valued at $15,636,000 after acquiring an additional 552,794 shares during the last quarter. 75.98% of the stock is currently owned by institutional investors.

About Diversified Healthcare Trust

Diversified Healthcare Trust (NASDAQ: DHC) is a real estate investment trust that owns and manages healthcare-related properties in the United States. Its portfolio includes medical office buildings, life science and research facilities, senior living communities, and wellness-oriented properties.

The trust leases its properties to healthcare providers, research organizations, senior living operators, and other related businesses. Its medical office and life science properties support outpatient care, medical research, and healthcare innovation, while its senior living portfolio serves older adults through independent living, assisted living, and related care services.

DHC was formerly known as Senior Housing Properties Trust and adopted its current name in 2020 to reflect its broader healthcare real estate strategy.