The Manufacturers Life Insurance Company Has $257,000 Stock Position in Diversified Healthcare Trust (NASDAQ:DHC)

The Manufacturers Life Insurance Company lowered its position in shares of Diversified Healthcare Trust (NASDAQ:DHC) by 6.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,323 shares of the real estate investment trust’s stock after selling 5,368 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Diversified Healthcare Trust were worth $257,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Deerfield Management Company L.P. Series C raised its stake in Diversified Healthcare Trust by 4.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 88,223 shares of the real estate investment trust’s stock valued at $269,000 after purchasing an additional 4,055 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Diversified Healthcare Trust by 2.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 245,882 shares of the real estate investment trust’s stock valued at $602,000 after purchasing an additional 4,974 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Diversified Healthcare Trust by 99.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 15,300 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 7,629 shares in the last quarter. Garner Asset Management Corp raised its stake in Diversified Healthcare Trust by 2.7% in the first quarter. Garner Asset Management Corp now owns 466,431 shares of the real estate investment trust’s stock valued at $1,147,000 after purchasing an additional 12,103 shares in the last quarter. Finally, Wolverine Asset Management LLC raised its stake in Diversified Healthcare Trust by 3.3% in the second quarter. Wolverine Asset Management LLC now owns 399,023 shares of the real estate investment trust’s stock valued at $1,217,000 after purchasing an additional 12,769 shares in the last quarter. Institutional investors and hedge funds own 75.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. StockNews.com downgraded Diversified Healthcare Trust from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. B. Riley lifted their target price on Diversified Healthcare Trust from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Monday, August 5th. JMP Securities reiterated a “market perform” rating on shares of Diversified Healthcare Trust in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada lifted their target price on Diversified Healthcare Trust from $2.00 to $3.00 and gave the company an “underperform” rating in a research report on Monday, October 14th.

Diversified Healthcare Trust Stock Performance

NASDAQ:DHC opened at $3.70 on Friday. The stock has a market cap of $890.11 million, a P/E ratio of -2.50 and a beta of 2.22. The company has a current ratio of 11.63, a quick ratio of 11.63 and a debt-to-equity ratio of 1.36. The stock’s 50-day moving average is $3.56 and its 200-day moving average is $3.04. Diversified Healthcare Trust has a 1-year low of $1.68 and a 1-year high of $4.24.

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 for the quarter, missing the consensus estimate of $0.03 by ($0.44). Diversified Healthcare Trust had a negative return on equity of 15.36% and a negative net margin of 24.14%. The firm had revenue of $371.39 million for the quarter, compared to the consensus estimate of $372.11 million. During the same quarter last year, the firm posted $0.05 earnings per share. Equities research analysts anticipate that Diversified Healthcare Trust will post 0.2 earnings per share for the current year.

Diversified Healthcare Trust Announces Dividend

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

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.