Diversified Healthcare Trust (NASDAQ:DHC) Shares Gap Up – Should You Buy?

Diversified Healthcare Trust (NASDAQ:DHC)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $2.13, but opened at $2.19. Diversified Healthcare Trust shares last traded at $2.21, with a volume of 122,069 shares changing hands.

Analyst Upgrades and Downgrades

DHC has been the subject of a number of research reports. B. Riley assumed coverage on Diversified Healthcare Trust in a research note on Thursday, April 3rd. They issued a “buy” rating and a $4.50 price target for the company. StockNews.com raised Diversified Healthcare Trust from a “sell” rating to a “hold” rating in a research note on Thursday, April 10th.

Diversified Healthcare Trust Trading Up 4.9 %

The company has a debt-to-equity ratio of 1.44, a current ratio of 11.57 and a quick ratio of 11.57. The firm’s fifty day moving average is $2.49 and its 200-day moving average is $2.65. The firm has a market cap of $539.16 million, a price-to-earnings ratio of -1.39 and a beta of 2.02.

Diversified Healthcare Trust (NASDAQ:DHC) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.31. Diversified Healthcare Trust had a negative net margin of 26.09% and a negative return on equity of 17.55%. The company had revenue of $379.62 million during the quarter, compared to analyst estimates of $370.97 million.

Diversified Healthcare Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 22nd will be issued a $0.01 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $0.04 annualized dividend and a yield of 1.79%. Diversified Healthcare Trust’s payout ratio is currently -2.60%.

Institutional Investors Weigh In On Diversified Healthcare Trust

Several hedge funds and other institutional investors have recently modified their holdings of DHC. BlackBarn Capital Partners LP grew its position in Diversified Healthcare Trust by 41.8% in the 4th quarter. BlackBarn Capital Partners LP now owns 6,250,000 shares of the real estate investment trust’s stock valued at $14,375,000 after purchasing an additional 1,841,503 shares during the period. Cibc World Markets Corp acquired a new position in shares of Diversified Healthcare Trust during the fourth quarter valued at about $990,000. CastleKnight Management LP increased its position in shares of Diversified Healthcare Trust by 30.1% during the fourth quarter. CastleKnight Management LP now owns 1,845,842 shares of the real estate investment trust’s stock worth $4,245,000 after acquiring an additional 427,400 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Diversified Healthcare Trust by 42.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,233,790 shares of the real estate investment trust’s stock worth $2,838,000 after acquiring an additional 369,984 shares during the last quarter. Finally, Barclays PLC lifted its position in Diversified Healthcare Trust by 310.2% in the 3rd quarter. Barclays PLC now owns 324,514 shares of the real estate investment trust’s stock valued at $1,360,000 after acquiring an additional 245,405 shares in the last quarter. Institutional investors own 75.98% of the company’s stock.

About Diversified Healthcare Trust

Diversified Healthcare Trust is a real estate investment trust, which engages in the ownership of senior living communities, medical office buildings, and wellness centers. It operates through the following segments: Office Portfolio, Senior Housing Operating Portfolio (SHOP), and Non-Segment. The Office Portfolio segment consists of medical office properties leased to medical providers and other medical related businesses, as well as life science properties leased to biotech laboratories and other similar tenants.