Diversified Healthcare Trust (NASDAQ:DHC) to Issue Quarterly Dividend of $0.01

Diversified Healthcare Trust (NASDAQ:DHC) announced a quarterly dividend on Thursday, April 11th, Zacks reports. Investors of record on Monday, April 22nd will be given a dividend of 0.01 per share by the real estate investment trust on Thursday, May 16th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Friday, April 19th.

Diversified Healthcare Trust has decreased its dividend payment by an average of 39.4% annually over the last three years. Diversified Healthcare Trust has a dividend payout ratio of -5.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Diversified Healthcare Trust to earn $0.40 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 10.0%.

Diversified Healthcare Trust Stock Performance

NASDAQ:DHC opened at $2.35 on Thursday. The company has a market cap of $564.99 million, a price-to-earnings ratio of -1.91 and a beta of 2.05. Diversified Healthcare Trust has a 1 year low of $0.80 and a 1 year high of $3.96. The stock’s 50 day simple moving average is $2.70 and its two-hundred day simple moving average is $2.61. The company has a debt-to-equity ratio of 1.21, a current ratio of 8.46 and a quick ratio of 8.46.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Diversified Healthcare Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, March 26th.

Institutional Investors Weigh In On Diversified Healthcare Trust

Several large investors have recently added to or reduced their stakes in DHC. LPL Financial LLC bought a new position in Diversified Healthcare Trust during the second quarter valued at $25,000. Prelude Capital Management LLC bought a new position in Diversified Healthcare Trust during the 2nd quarter valued at about $26,000. Bleakley Financial Group LLC purchased a new stake in Diversified Healthcare Trust in the 1st quarter worth about $33,000. Point72 Hong Kong Ltd bought a new stake in Diversified Healthcare Trust in the second quarter worth about $35,000. Finally, M&T Bank Corp lifted its stake in Diversified Healthcare Trust by 48.0% in the third quarter. M&T Bank Corp now owns 36,126 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 11,716 shares during the last quarter. 75.98% of the stock is owned by institutional investors.

About Diversified Healthcare Trust

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.