Diversified Healthcare Trust (NASDAQ:DHC) Stock Price Up 8.8% After Earnings Beat

Diversified Healthcare Trust (NASDAQ:DHC)’s stock price rose 8.8% on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $2.65 and last traded at $2.67. Approximately 599,430 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 1,078,663 shares. The stock had previously closed at $2.45.

The real estate investment trust reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.31. The business had revenue of $379.62 million during the quarter, compared to analyst estimates of $370.97 million. Diversified Healthcare Trust had a negative net margin of 26.09% and a negative return on equity of 17.55%.

Diversified Healthcare Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, January 27th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Monday, January 27th. Diversified Healthcare Trust’s payout ratio is -2.48%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Diversified Healthcare Trust from a “hold” rating to a “sell” rating in a report on Wednesday.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Deerfield Management Company L.P. Series C bought a new position in Diversified Healthcare Trust during the 4th quarter valued at $36,000. Boothbay Fund Management LLC bought a new position in Diversified Healthcare Trust during the 4th quarter valued at $41,000. Proficio Capital Partners LLC bought a new position in shares of Diversified Healthcare Trust in the 4th quarter worth about $44,000. RPO LLC bought a new position in shares of Diversified Healthcare Trust in the 4th quarter worth about $54,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Diversified Healthcare Trust in the 4th quarter worth about $65,000. 75.98% of the stock is currently owned by institutional investors.

Diversified Healthcare Trust Stock Performance

The stock’s 50-day moving average price is $2.36 and its 200-day moving average price is $2.91. The company has a current ratio of 11.57, a quick ratio of 11.57 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $641.79 million, a P/E ratio of -1.65 and a beta of 2.17.

Diversified Healthcare Trust Company Profile

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.