Hennessy Advisors Inc. Buys 1,099,800 Shares of Diversified Healthcare Trust $DHC

Hennessy Advisors Inc. purchased a new stake in Diversified Healthcare Trust (NASDAQ:DHC) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,099,800 shares of the real estate investment trust’s stock, valued at approximately $8,633,000.

A number of other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp acquired a new position in shares of Diversified Healthcare Trust during the 2nd quarter worth $22,101,000. Bank of America Corp DE grew its stake in Diversified Healthcare Trust by 90.4% in the 1st 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 grew its stake in Diversified Healthcare Trust by 231.8% in the 2nd 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. Arrowstreet Capital Limited Partnership increased its holdings in Diversified Healthcare Trust by 30.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,354,824 shares of the real estate investment trust’s stock valued at $15,636,000 after acquiring an additional 552,794 shares in the last quarter. Finally, Carronade Capital Management LP increased its holdings in Diversified Healthcare Trust by 10.6% during 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 acquiring an additional 504,898 shares in the last quarter. Hedge funds and other institutional investors own 75.98% of the company’s stock.

Analyst Ratings Changes

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

Diversified Healthcare Trust Stock Performance

Diversified Healthcare Trust stock opened at $7.78 on Monday. Diversified Healthcare Trust has a fifty-two week low of $3.92 and a fifty-two week high of $9.66. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -7.01 and a beta of 2.29. The stock has a fifty day moving average of $7.77 and a two-hundred day moving average of $7.75. The company has a debt-to-equity ratio of 1.52, a quick ratio of 4.67 and a current ratio of 4.66.

Diversified Healthcare Trust (NASDAQ:DHC) last issued its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $365.39 million during the quarter, compared to analysts’ expectations of $370.75 million. Diversified Healthcare Trust had a negative net margin of 17.73% and a negative return on equity of 16.22%. On average, analysts anticipate that Diversified Healthcare Trust will post 0.60 EPS for the current fiscal year.

Diversified Healthcare Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Monday, October 19th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, October 19th. Diversified Healthcare Trust’s dividend payout ratio (DPR) is currently -3.60%.

Diversified Healthcare Trust Company Profile

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.