In yesterday’s Wall Street session, Diversified Healthcare Trust (NASDAQ:DHC) shares traded at $2.44, up 6.09% from the previous session.
As of this writing, 2 analysts cover Diversified Healthcare Trust (NASDAQ:DHC). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $3.00 and a low of $3.00, we find $3.00. Given the previous closing price of $2.30, this indicates a potential upside of 30.43 percent. DHC stock price is now 54.04% away from the 50-day moving average and 108.90% away from the 200-day moving average. The market capitalization of the company currently stands at $551.49M.
There are 1 analysts who have given it a hold rating, whereas 1 have given it a buy rating. Brokers who have rated the stock have averaged $3.00 as their price target over the next twelve months.
With the price target maintained at $4, Wells Fargo recently Downgraded its rating from Equal Weight to Underweight for Diversified Healthcare Trust (NASDAQ: DHC).
In other news, PORTNOY ADAM D., Director bought 2,000,000 shares of the company’s stock on Jun 14. The stock was bought for $6,132,600 at an average price of $3.07. Upon completion of the transaction, the Director now directly owns 23,250,019 shares in the company, valued at $56.73 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 13, Director PORTNOY ADAM D. bought 1,992,259 shares of the business’s stock. A total of $6,026,783 was incurred on buying the stock at an average price of $3.03. This leaves the insider owning 21,250,019 shares of the company worth $51.85 million. Insiders disposed of 39,381 shares of company stock worth roughly $96089.64 over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in DHC stock. A new stake in Diversified Healthcare Trust shares was purchased by STRATEGIC VALUE PARTNERS, LLC during the first quarter worth $16,722,000. LONESTAR CAPITAL MANAGEMENT LLC invested $16,517,000 in shares of DHC during the first quarter. In the first quarter, B. RILEY FINANCIAL, INC. acquired a new stake in Diversified Healthcare Trust valued at approximately $6,140,000. UNION SQUARE PARK CAPITAL MANAGEMENT, LLC acquired a new stake in DHC for approximately $2,684,000. PALOMA PARTNERS MANAGEMENT CO purchased a new stake in DHC valued at around $1,735,000 in the second quarter. In total, there are 240 active investors with 82.30% ownership of the company’s stock.
Friday morning saw Diversified Healthcare Trust (NASDAQ: DHC) opened at $2.2400. During the past 12 months, Diversified Healthcare Trust has had a low of $0.61 and a high of $3.30. The fifty day moving average price for DHC is $1.6152 and a two-hundred day moving average price translates $1.1740 for the stock.
The latest earnings results from Diversified Healthcare Trust (NASDAQ: DHC) was released for Mar, 2023. According to the REIT – Healthcare Facilities Company, earnings per share came in at -$0.22, beating analysts’ expectations of -$0.23 by 0.01. This compares to $1.01 EPS in the same period last year. The net profit margin was -23.40% and return on equity was -11.50% for DHC. The company reported revenue of $346.03 million for the quarter, compared to $310.73 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.36 percent. For the current quarter, analysts expect DHC to generate $353.15M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 05/18/2023. Investors who held shares on 04/24/2023 were paid a $0.01 dividend. On an annualized basis, this represents a $0.04 dividend and a 1.64% percent yield. There was an ex-dividend date of 04/21/2023 for this dividend.
Diversified Healthcare Trust(DHC) Company 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 March 31, 2023, DHC’s approximately $7.1 billion portfolio included 376 properties in 36 states and Washington, D.C., 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. DHC is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $37 billion in assets under management as of March 31, 2023 and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. DHC is headquartered in Newton, MA.
