Diversified Healthcare Trust (NASDAQ:DHC) Stock Price Up 7.9%

Diversified Healthcare Trust (NASDAQ:DHC) rose 7.9% during mid-day trading on Friday . The stock traded as high as $2.65 and last traded at $2.61. Approximately 308,692 shares traded hands during trading, a decline of 73% from the average daily volume of 1,141,415 shares. The stock had previously closed at $2.42.

Analysts Set New Price Targets

Separately, StockNews.com cut Diversified Healthcare Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th.

Diversified Healthcare Trust Price Performance

The company has a quick ratio of 8.46, a current ratio of 8.46 and a debt-to-equity ratio of 1.21. The stock’s 50-day moving average is $2.59 and its 200-day moving average is $2.65. The firm has a market cap of $629.90 million, a P/E ratio of -2.13 and a beta of 2.09.

Diversified Healthcare Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, April 22nd will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Friday, April 19th. Diversified Healthcare Trust’s payout ratio is presently -3.25%.

Institutional Trading of Diversified Healthcare Trust

A number of institutional investors and hedge funds have recently modified their holdings of DHC. Allspring Global Investments Holdings LLC raised its stake in shares of Diversified Healthcare Trust by 84.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 7,671 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 3,510 shares in the last quarter. Verum Partners LLC bought a new stake in Diversified Healthcare Trust in the fourth quarter valued at about $43,000. Oak Thistle LLC acquired a new position in Diversified Healthcare Trust in the fourth quarter worth about $53,000. Simplicity Wealth LLC bought a new position in Diversified Healthcare Trust during the first quarter worth about $56,000. Finally, Victory Capital Management Inc. boosted its holdings in Diversified Healthcare Trust by 22.7% during the fourth quarter. Victory Capital Management Inc. now owns 29,096 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 5,379 shares in the last quarter. 75.98% of the stock is currently 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.