Corebridge Financial Inc. Cuts Position in Diversified Healthcare Trust (NASDAQ:DHC)

Corebridge Financial Inc. reduced its stake in shares of Diversified Healthcare Trust (NASDAQ:DHC) by 7.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,593 shares of the real estate investment trust’s stock after selling 8,197 shares during the quarter. Corebridge Financial Inc.’s holdings in Diversified Healthcare Trust were worth $250,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in DHC. Geode Capital Management LLC increased its position in shares of Diversified Healthcare Trust by 1.0% during the third quarter. Geode Capital Management LLC now owns 5,667,451 shares of the real estate investment trust’s stock worth $23,751,000 after purchasing an additional 54,602 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Diversified Healthcare Trust by 60.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 863,806 shares of the real estate investment trust’s stock worth $3,619,000 after buying an additional 324,787 shares during the last quarter. Cibc World Markets Corp acquired a new position in Diversified Healthcare Trust during the 4th quarter valued at about $990,000. Public Employees Retirement System of Ohio raised its stake in Diversified Healthcare Trust by 26.0% in the third quarter. Public Employees Retirement System of Ohio now owns 418,447 shares of the real estate investment trust’s stock valued at $1,753,000 after buying an additional 86,353 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Diversified Healthcare Trust by 310.2% in the third quarter. Barclays PLC now owns 324,514 shares of the real estate investment trust’s stock worth $1,360,000 after acquiring an additional 245,405 shares in the last quarter. Institutional investors own 75.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on DHC. StockNews.com raised shares of Diversified Healthcare Trust from a “sell” rating to a “hold” rating in a research report on Thursday. B. Riley assumed coverage on shares of Diversified Healthcare Trust in a research note on Thursday, April 3rd. They set a “buy” rating and a $4.50 price target on the stock.

Diversified Healthcare Trust Stock Down 1.9 %

Shares of DHC stock opened at $2.07 on Friday. Diversified Healthcare Trust has a fifty-two week low of $2.00 and a fifty-two week high of $4.24. The company has a debt-to-equity ratio of 1.44, a quick ratio of 11.57 and a current ratio of 11.57. The firm has a market capitalization of $499.36 million, a PE ratio of -1.29 and a beta of 2.02. The stock’s 50-day simple moving average is $2.53 and its 200-day simple moving average is $2.69.

Diversified Healthcare Trust (NASDAQ:DHC) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.31. Diversified Healthcare Trust had a negative net margin of 26.09% and a negative return on equity of 17.55%. The business had revenue of $379.62 million for the quarter, compared to analysts’ expectations of $370.97 million.

Diversified Healthcare Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 22nd will be given a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $0.04 annualized dividend and a dividend yield of 1.93%. Diversified Healthcare Trust’s dividend payout ratio (DPR) is -2.60%.

Diversified Healthcare Trust 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.