Pictet Asset Management SA Sells 72,992 Shares of Diversified Healthcare Trust (NASDAQ:DHC)

Pictet Asset Management SA cut its position in shares of Diversified Healthcare Trust (NASDAQ:DHCGet Rating) by 78.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,700 shares of the real estate investment trust’s stock after selling 72,992 shares during the quarter. Pictet Asset Management SA’s holdings in Diversified Healthcare Trust were worth $36,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Running Point Capital Advisors LLC purchased a new position in Diversified Healthcare Trust during the first quarter valued at $32,000. Walker Asset Management LLC purchased a new position in Diversified Healthcare Trust during the second quarter valued at $28,000. Y Intercept Hong Kong Ltd purchased a new position in Diversified Healthcare Trust during the second quarter valued at $29,000. PNC Financial Services Group Inc. raised its stake in Diversified Healthcare Trust by 91.9% during the first quarter. PNC Financial Services Group Inc. now owns 19,053 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 9,124 shares during the last quarter. Finally, Eaton Vance Management raised its stake in Diversified Healthcare Trust by 166.1% during the first quarter. Eaton Vance Management now owns 19,116 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 11,932 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

Diversified Healthcare Trust Stock Down 1.0 %

DHC stock opened at $1.04 on Friday. Diversified Healthcare Trust has a 1-year low of $0.91 and a 1-year high of $3.45. The business has a fifty day moving average price of $1.13 and a 200-day moving average price of $1.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $249.29 million, a P/E ratio of 0.59 and a beta of 1.72.

Diversified Healthcare Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Monday, October 24th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend was Friday, October 21st. Diversified Healthcare Trust’s dividend payout ratio is currently 2.29%.

Analyst Ratings Changes

Separately, StockNews.com cut Diversified Healthcare Trust from a “hold” rating to a “sell” rating in a research note on Sunday, October 9th.

About Diversified Healthcare Trust

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DHC is a real estate investment trust, or REIT, that owns medical office and life science properties, senior living communities and wellness centers throughout the United States. DHC is managed by the operating subsidiary of The RMR Group Inc, an alternative asset management company that is headquartered in Newton, MA.

Further Reading

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Institutional Ownership by Quarter for Diversified Healthcare Trust (NASDAQ:DHC)

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