Diversified Healthcare Trust (NASDAQ:DHC) Stock Rated Strong-Buy in New Coverage at Freedom Broker

Freedom Broker began coverage on shares of Diversified Healthcare Trust (NASDAQ:DHC) in a report issued on Tuesday morning,Zacks reports. The brokerage issued a strong-buy rating on the real estate investment trust’s stock.

A number of other research firms have also recently issued reports on DHC. Weiss Ratings reissued a “sell (d-)” rating on shares of Diversified Healthcare Trust in a research report on Thursday, October 15th. Wall Street Zen raised Diversified Healthcare Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Diversified Healthcare Trust has an average rating of “Moderate Buy” and a consensus price target of $9.83.

Diversified Healthcare Trust Price Performance

Diversified Healthcare Trust stock opened at $7.03 on Tuesday. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -10.98 and a beta of 2.34. Diversified Healthcare Trust has a 52-week low of $4.23 and a 52-week high of $9.66. The company has a debt-to-equity ratio of 1.57, a quick ratio of 4.67 and a current ratio of 5.32. The stock’s 50 day moving average price is $7.72 and its two-hundred day moving average price is $7.79.

Diversified Healthcare Trust (NASDAQ:DHC) last released its earnings results on Monday, November 2nd. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.06). Diversified Healthcare Trust had a negative net margin of 10.29% and a negative return on equity of 9.51%. The company had revenue of $367.67 million for the quarter, compared to analyst estimates of $370.87 million. On average, equities analysts predict that Diversified Healthcare Trust will post 0.49 earnings per share for the current year.

Diversified Healthcare Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Monday, October 19th will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, October 19th. This represents a $0.04 annualized dividend and a yield of 0.6%. Diversified Healthcare Trust’s dividend payout ratio (DPR) is presently -6.25%.

Institutional Trading of Diversified Healthcare Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Carronade Capital Management LP increased its stake in Diversified Healthcare Trust by 10.6% in the 1st quarter. Carronade Capital Management LP now owns 5,268,435 shares of the real estate investment trust’s stock valued at $34,982,000 after buying an additional 504,898 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Diversified Healthcare Trust in the second quarter valued at approximately $22,101,000. Bank of America Corp DE increased its position in shares of Diversified Healthcare Trust by 90.4% during the first quarter. Bank of America Corp DE now owns 2,682,265 shares of the real estate investment trust’s stock valued at $17,810,000 after acquiring an additional 1,273,681 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of Diversified Healthcare Trust by 231.8% during the second quarter. Allianz Asset Management GmbH now owns 1,767,596 shares of the real estate investment trust’s stock valued at $16,439,000 after acquiring an additional 1,234,822 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Diversified Healthcare Trust by 6.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,399,804 shares of the real estate investment trust’s stock valued at $15,935,000 after acquiring an additional 138,708 shares during the last quarter. 75.98% of the stock is owned by institutional investors.

About Diversified Healthcare Trust

Diversified Healthcare Trust (NASDAQ: DHC) is a real estate investment trust that owns and manages healthcare-related properties in the United States. Its portfolio includes medical office buildings, life science and research facilities, senior living communities, and wellness-oriented properties.

The trust leases its properties to healthcare providers, research organizations, senior living operators, and other related businesses. Its medical office and life science properties support outpatient care, medical research, and healthcare innovation, while its senior living portfolio serves older adults through independent living, assisted living, and related care services.

DHC was formerly known as Senior Housing Properties Trust and adopted its current name in 2020 to reflect its broader healthcare real estate strategy.