Diversified Healthcare Trust (NASDAQ:DHC - Get Free Report) shares gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $3.52, but opened at $3.33. Diversified Healthcare Trust shares last traded at $2.96, with a volume of 258,748 shares changing hands.
The real estate investment trust reported ($0.41) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.46). Diversified Healthcare Trust had a negative return on equity of 15.36% and a negative net margin of 24.14%. The business had revenue of $373.64 million during the quarter, compared to analyst estimates of $376.80 million. During the same period in the previous year, the business earned $0.03 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, October 28th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.04 annualized dividend and a dividend yield of 1.28%. Diversified Healthcare Trust's dividend payout ratio (DPR) is presently -2.70%.
A number of research firms have weighed in on DHC. StockNews.com cut shares of Diversified Healthcare Trust from a "hold" rating to a "sell" rating in a research report on Saturday, August 31st. JMP Securities reaffirmed a "market perform" rating on shares of Diversified Healthcare Trust in a research note on Wednesday, August 21st. Royal Bank of Canada lifted their price target on shares of Diversified Healthcare Trust from $2.00 to $3.00 and gave the company an "underperform" rating in a research report on Monday, October 14th. Finally, B. Riley raised their target price on Diversified Healthcare Trust from $5.00 to $6.00 and gave the stock a "buy" rating in a research note on Monday, August 5th.
View Our Latest Analysis on DHC
A number of hedge funds have recently made changes to their positions in DHC. GSA Capital Partners LLP acquired a new stake in shares of Diversified Healthcare Trust during the third quarter worth about $648,000. Asset Management One Co. Ltd. increased its position in Diversified Healthcare Trust by 2.8% during the third quarter. Asset Management One Co. Ltd. now owns 325,171 shares of the real estate investment trust's stock worth $1,362,000 after buying an additional 8,879 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in 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 buying an additional 16,456 shares during the period. Creative Planning lifted its stake in Diversified Healthcare Trust by 14.1% in 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. Finally, Inspire Investing LLC acquired a new stake in shares of Diversified Healthcare Trust in the third quarter valued at approximately $411,000. Hedge funds and other institutional investors own 75.98% of the company's stock.
The business's 50-day moving average price is $3.62 and its 200-day moving average price is $3.12. The firm has a market capitalization of $750.58 million, a PE ratio of -2.03 and a beta of 2.23. The company has a debt-to-equity ratio of 1.36, a current ratio of 11.63 and a quick ratio of 11.63.
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.
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