Grantham Mayo Van Otterloo & Co. LLC Decreases Stake in Diversified Healthcare Trust (NASDAQ:DHC)

Grantham Mayo Van Otterloo & Co. LLC decreased its holdings in Diversified Healthcare Trust (NASDAQ:DHC) by 12.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 394,300 shares of the real estate investment trust’s stock after selling 56,900 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned about 0.16% of Diversified Healthcare Trust worth $532,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DHC. Vanguard Group Inc. lifted its position in shares of Diversified Healthcare Trust by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 38,802,326 shares of the real estate investment trust’s stock valued at $124,168,000 after acquiring an additional 106,629 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Diversified Healthcare Trust by 325.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 17,358,304 shares of the real estate investment trust’s stock worth $23,434,000 after purchasing an additional 13,274,098 shares during the last quarter. State Street Corp boosted its position in Diversified Healthcare Trust by 12.3% during the first quarter. State Street Corp now owns 15,659,509 shares of the real estate investment trust’s stock worth $50,110,000 after purchasing an additional 1,710,824 shares in the last quarter. Millennium Management LLC grew its holdings in Diversified Healthcare Trust by 383.0% in the fourth quarter. Millennium Management LLC now owns 13,054,108 shares of the real estate investment trust’s stock valued at $8,443,000 after purchasing an additional 10,351,271 shares during the last quarter. Finally, Strategic Value Partners LLC purchased a new position in shares of Diversified Healthcare Trust in the first quarter valued at $9,252,000. Institutional investors and hedge funds own 95.35% of the company’s stock.

Insider Activity

In other news, Director Adam D. Portnoy bought 2,011,256 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were purchased at an average price of $2.87 per share, for a total transaction of $5,772,304.72. Following the completion of the transaction, the director now owns 19,257,760 shares in the company, valued at $55,269,771.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Diversified Healthcare Trust news, Director Adam D. Portnoy bought 2,011,256 shares of Diversified Healthcare Trust stock in a transaction that occurred on Monday, June 12th. The shares were purchased at an average cost of $2.87 per share, for a total transaction of $5,772,304.72. Following the completion of the transaction, the director now owns 19,257,760 shares of the company’s stock, valued at approximately $55,269,771.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Adam D. Portnoy purchased 2,000,000 shares of the stock in a transaction on Wednesday, June 14th. The stock was acquired at an average price of $3.07 per share, with a total value of $6,140,000.00. Following the acquisition, the director now directly owns 23,250,019 shares in the company, valued at $71,377,558.33. The disclosure for this purchase can be found here. Insiders bought a total of 5,916,456 shares of company stock valued at $16,846,773 over the last 90 days. Insiders own 1.37% of the company’s stock.

Diversified Healthcare Trust Trading Down 1.9 %

Shares of DHC stock opened at $2.58 on Wednesday. The company has a market capitalization of $618.66 million, a price-to-earnings ratio of -2.28, a PEG ratio of 0.91 and a beta of 1.88. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.93. The firm has a 50-day moving average price of $2.60 and a 200 day moving average price of $1.82. Diversified Healthcare Trust has a twelve month low of $0.61 and a twelve month high of $3.30.

Diversified Healthcare Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, July 24th were issued a dividend of $0.01 per share. The ex-dividend date was Friday, July 21st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.55%. Diversified Healthcare Trust’s dividend payout ratio (DPR) is presently -3.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DHC shares. StockNews.com began coverage on shares of Diversified Healthcare Trust in a research report on Monday. They issued a “sell” rating on the stock. B. Riley upped their target price on Diversified Healthcare Trust from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Tuesday.

Diversified Healthcare Trust Profile

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.