Diversified Healthcare Trust (NASDAQ:DHC) Shares Gap Down to $2.98

Diversified Healthcare Trust (NASDAQ:DHC) gapped down prior to trading on Thursday . The stock had previously closed at $2.98, but opened at $2.92. Diversified Healthcare Trust shares last traded at $2.94, with a volume of 29,524 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on DHC shares. StockNews.com started coverage on Diversified Healthcare Trust in a research note on Sunday. They issued a “sell” rating on the stock. B. Riley boosted their price objective on Diversified Healthcare Trust from $3.00 to $4.00 in a research note on Tuesday, August 8th.

Diversified Healthcare Trust Trading Down 9.1 %

The business has a 50 day moving average of $2.54 and a two-hundred day moving average of $1.76. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $649.83 million, a price-to-earnings ratio of -2.49, a P/E/G ratio of 0.95 and a beta of 1.94.

Diversified Healthcare Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, July 24th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Friday, July 21st. Diversified Healthcare Trust’s dividend payout ratio (DPR) is currently -3.54%.

Insider Buying and Selling

In other news, Director Adam D. Portnoy purchased 2,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were acquired at an average cost of $3.07 per share, with a total value of $6,140,000.00. Following the purchase, the director now owns 23,250,019 shares in the company, valued at $71,377,558.33. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Adam D. Portnoy acquired 2,000,000 shares of the stock in a transaction dated Wednesday, June 14th. The stock was purchased at an average cost of $3.07 per share, with a total value of $6,140,000.00. Following the completion of the purchase, the director now directly owns 23,250,019 shares in the company, valued at approximately $71,377,558.33. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Adam D. Portnoy acquired 2,400,000 shares of the stock in a transaction dated Wednesday, June 7th. The stock was bought at an average cost of $2.34 per share, with a total value of $5,616,000.00. Following the completion of the purchase, the director now owns 13,651,304 shares of the company’s stock, valued at $31,944,051.36. The disclosure for this purchase can be found here. In the last three months, insiders have bought 10,634,537 shares of company stock valued at $26,519,414. 1.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Diversified Healthcare Trust

Several institutional investors have recently modified their holdings of the business. Alliancebernstein L.P. grew its holdings in shares of Diversified Healthcare Trust by 31.7% in the second quarter. Alliancebernstein L.P. now owns 353,975 shares of the real estate investment trust’s stock valued at $796,000 after acquiring an additional 85,292 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Diversified Healthcare Trust by 9.5% during the second quarter. Goldman Sachs Group Inc. now owns 1,342,961 shares of the real estate investment trust’s stock valued at $3,022,000 after purchasing an additional 116,854 shares during the period. Caxton Associates LP bought a new position in Diversified Healthcare Trust during the second quarter valued at $526,000. Royal Bank of Canada grew its holdings in Diversified Healthcare Trust by 121.8% during the second quarter. Royal Bank of Canada now owns 33,596 shares of the real estate investment trust’s stock valued at $75,000 after purchasing an additional 18,446 shares during the period. Finally, Beryl Capital Management LLC bought a new position in Diversified Healthcare Trust during the second quarter valued at $43,000. 95.35% of the stock is owned by institutional investors.

About Diversified Healthcare Trust

DHC is a real estate investment trust focused on owning high-quality healthcare properties located throughout the United States. DHC seeks diversification across the health services spectrum by care delivery and practice type, by scientific research disciplines and by property type and location. As of June 30, 2023, DHC's approximately $7.1 billion portfolio included 376 properties in 36 states and Washington, DC, occupied by approximately 500 tenants, and totaling approximately 9 million square feet of life science and medical office properties and more than 27,000 senior living units.