Diversified Healthcare Trust (NASDAQ:DHC) Price Target Raised to $3.00 at Royal Bank of Canada

Diversified Healthcare Trust (NASDAQ:DHC) had its price target raised by Royal Bank of Canada from $2.00 to $3.00 in a research note released on Monday, Benzinga reports. They currently have an underperform rating on the real estate investment trust’s stock.

A number of other research firms have also commented on DHC. B. Riley lifted their price objective on shares of Diversified Healthcare Trust from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Monday, August 5th. StockNews.com downgraded Diversified Healthcare Trust from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Diversified Healthcare Trust in a research report on Wednesday, August 21st.

Diversified Healthcare Trust Price Performance

Shares of NASDAQ DHC opened at $3.72 on Monday. The stock’s 50-day simple moving average is $3.54 and its 200-day simple moving average is $3.03. The firm has a market capitalization of $894.92 million, a PE ratio of -2.51 and a beta of 2.22. Diversified Healthcare Trust has a fifty-two week low of $1.68 and a fifty-two week high of $4.24. The company has a debt-to-equity ratio of 1.36, a quick ratio of 11.63 and a current ratio of 11.63.

Diversified Healthcare Trust (NASDAQ:DHC) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.44). The firm had revenue of $371.39 million for the quarter, compared to analysts’ expectations of $372.11 million. Diversified Healthcare Trust had a negative return on equity of 15.36% and a negative net margin of 24.14%. During the same quarter in the prior year, the business earned $0.05 EPS. As a group, equities research analysts forecast that Diversified Healthcare Trust will post 0.2 EPS for the current fiscal year.

Diversified Healthcare Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, October 28th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.04 annualized dividend and a yield of 1.08%. Diversified Healthcare Trust’s dividend payout ratio is currently -2.70%.

Institutional Trading of Diversified Healthcare Trust

A number of institutional investors have recently modified their holdings of DHC. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Diversified Healthcare Trust by 68.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 40,340 shares of the real estate investment trust’s stock valued at $169,000 after purchasing an additional 16,456 shares in the last quarter. Creative Planning grew its position in 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 worth $94,000 after buying an additional 2,767 shares during the period. Inspire Investing LLC purchased a new position in Diversified Healthcare Trust in the third quarter valued at about $411,000. SG Americas Securities LLC lifted its position in shares of Diversified Healthcare Trust by 82.1% during the 3rd quarter. SG Americas Securities LLC now owns 75,293 shares of the real estate investment trust’s stock valued at $315,000 after acquiring an additional 33,942 shares during the period. Finally, Algert Global LLC boosted its stake in shares of Diversified Healthcare Trust by 3.0% during the 2nd quarter. Algert Global LLC now owns 307,915 shares of the real estate investment trust’s stock worth $939,000 after acquiring an additional 8,878 shares in the last quarter. 75.98% of the stock is currently owned by hedge funds and other 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.