Principal Financial Group Inc. Lowers Stock Position in Diversified Healthcare Trust (NASDAQ:DHC)

Principal Financial Group Inc. trimmed its position in shares of Diversified Healthcare Trust (NASDAQ:DHC) by 29.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,218 shares of the real estate investment trust’s stock after selling 6,201 shares during the period. Principal Financial Group Inc.’s holdings in Diversified Healthcare Trust were worth $64,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. boosted its position in shares of Diversified Healthcare Trust by 2.8% in the third quarter. Asset Management One Co. Ltd. now owns 325,171 shares of the real estate investment trust’s stock worth $1,362,000 after buying an additional 8,879 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Diversified Healthcare Trust by 68.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 40,340 shares of the real estate investment trust’s stock worth $169,000 after acquiring an additional 16,456 shares in the last quarter. Creative Planning boosted its holdings in Diversified Healthcare Trust by 14.1% in the 3rd quarter. Creative Planning now owns 22,401 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 2,767 shares during the period. Inspire Investing LLC acquired a new stake in Diversified Healthcare Trust in the third quarter valued at approximately $411,000. Finally, SG Americas Securities LLC lifted its holdings in Diversified Healthcare Trust by 82.1% in the 3rd quarter. SG Americas Securities LLC now owns 75,293 shares of the real estate investment trust’s stock worth $315,000 after buying an additional 33,942 shares in the last quarter. Institutional investors and hedge funds own 75.98% of the company’s stock.

Diversified Healthcare Trust Stock Performance

Shares of DHC opened at $2.55 on Wednesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 11.57 and a quick ratio of 11.57. The firm’s 50 day moving average is $3.37 and its 200-day moving average is $3.14. Diversified Healthcare Trust has a 12-month low of $1.97 and a 12-month high of $4.24. The stock has a market capitalization of $615.25 million, a P/E ratio of -1.58 and a beta of 2.23.

Diversified Healthcare Trust (NASDAQ:DHC) last issued its earnings results on Monday, November 4th. The real estate investment trust reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.46). Diversified Healthcare Trust had a negative return on equity of 17.55% and a negative net margin of 26.09%. The company had revenue of $373.64 million during the quarter, compared to analyst estimates of $376.80 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. Equities research analysts anticipate that Diversified Healthcare Trust will post 0.05 EPS for the current fiscal year.

Diversified Healthcare Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, October 28th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.57%. The ex-dividend date was Monday, October 28th. Diversified Healthcare Trust’s dividend payout ratio is currently -2.48%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DHC. Royal Bank of Canada upped their target price on shares of Diversified Healthcare Trust from $2.00 to $3.00 and gave the company an “underperform” rating in a research note on Monday, October 14th. StockNews.com upgraded Diversified Healthcare Trust from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. JMP Securities reiterated a “market perform” rating on shares of Diversified Healthcare Trust in a research report on Wednesday, August 21st. Finally, B. Riley upped their price target 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.

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.