Diversified Healthcare Trust (NASDAQ:DHC) Trading 6.3% Higher – Time to Buy?

Diversified Healthcare Trust (NASDAQ:DHC) shares shot up 6.3% during trading on Wednesday . The stock traded as high as $2.72 and last traded at $2.71. 269,628 shares were traded during mid-day trading, a decline of 74% from the average session volume of 1,055,575 shares. The stock had previously closed at $2.55.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on DHC shares. StockNews.com raised Diversified Healthcare Trust from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Royal Bank of Canada increased their price objective on shares of Diversified Healthcare Trust from $2.00 to $3.00 and gave the stock an “underperform” rating in a research note on Monday, October 14th. JMP Securities restated a “market perform” rating on shares of Diversified Healthcare Trust in a research report on Wednesday, August 21st. Finally, B. Riley increased their price target on shares of Diversified Healthcare Trust from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Monday, August 5th.

Diversified Healthcare Trust Price Performance

The company has a quick ratio of 11.57, a current ratio of 11.57 and a debt-to-equity ratio of 1.44. The stock has a market cap of $629.71 million, a P/E ratio of -1.62 and a beta of 2.23. The firm has a 50 day moving average price of $3.30 and a 200 day moving average price of $3.14.

Diversified Healthcare Trust (NASDAQ:DHC) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.46). The firm had revenue of $373.64 million for the quarter, compared to analysts’ expectations of $376.80 million. Diversified Healthcare Trust had a negative net margin of 26.09% and a negative return on equity of 17.55%. During the same period in the prior year, the firm earned $0.03 EPS. On average, analysts forecast that Diversified Healthcare Trust will post 0.05 EPS for the current fiscal year.

Diversified Healthcare Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, October 28th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Monday, October 28th. Diversified Healthcare Trust’s dividend payout ratio is currently -2.48%.

Hedge Funds Weigh In On Diversified Healthcare Trust

Several large investors have recently made changes to their positions in DHC. New England Private Wealth Advisors LLC bought a new stake in Diversified Healthcare Trust during the 2nd quarter valued at approximately $62,000. XTX Topco Ltd purchased a new stake in Diversified Healthcare Trust during the 2nd quarter valued at approximately $74,000. Creative Planning raised its position in shares of Diversified Healthcare Trust by 14.1% during the third quarter. Creative Planning now owns 22,401 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 2,767 shares during the last quarter. Metis Global Partners LLC lifted its holdings in shares of Diversified Healthcare Trust by 38.8% in the third quarter. Metis Global Partners LLC now owns 23,610 shares of the real estate investment trust’s stock worth $99,000 after buying an additional 6,603 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Diversified Healthcare Trust by 68.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 40,340 shares of the real estate investment trust’s stock worth $169,000 after acquiring an additional 16,456 shares during the last quarter. 75.98% of the stock is currently owned by hedge funds and other institutional investors.

Diversified Healthcare Trust Company Profile

DHC is a real estate investment trust, or REIT, 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.