Diversified Healthcare Trust (NASDAQ:DHC – Get Rating)’s stock price hit a new 52-week high on Wednesday following insider buying activity. The company traded as high as $2.40 and last traded at $2.31, with a volume of 4560311 shares. The stock had previously closed at $1.98.
Specifically, Director Adam D. Portnoy purchased 635,253 shares of the stock in a transaction on Tuesday, May 30th. The stock was bought at an average price of $1.21 per share, for a total transaction of $768,656.13. Following the acquisition, the director now directly owns 3,185,272 shares of the company’s stock, valued at $3,854,179.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Adam D. Portnoy bought 2,318,081 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were acquired at an average cost of $1.75 per share, with a total value of $4,056,641.75. Following the transaction, the director now owns 9,648,222 shares of the company’s stock, valued at approximately $16,884,388.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Adam D. Portnoy purchased 635,253 shares of the stock in a transaction on Tuesday, May 30th. The shares were purchased at an average cost of $1.21 per share, with a total value of $768,656.13. Following the transaction, the director now owns 3,185,272 shares of the company’s stock, valued at approximately $3,854,179.12. The disclosure for this purchase can be found here. Insiders have acquired a total of 4,407,722 shares of company stock valued at $6,963,248 in the last quarter. 1.28% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on DHC. StockNews.com began coverage on Diversified Healthcare Trust in a research note on Thursday. They issued a “sell” rating on the stock. TheStreet cut shares of Diversified Healthcare Trust from a “c-” rating to a “d+” rating in a research report on Thursday, April 20th. Finally, B. Riley reissued a “buy” rating on shares of Diversified Healthcare Trust in a research report on Friday, March 3rd.
Diversified Healthcare Trust Price Performance
Diversified Healthcare Trust Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Monday, April 24th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend was Friday, April 21st. Diversified Healthcare Trust’s dividend payout ratio is presently -3.10%.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Prelude Capital Management LLC purchased a new stake in Diversified Healthcare Trust during the 2nd quarter worth $26,000. Virtu Financial LLC acquired a new stake in shares of Diversified Healthcare Trust during the third quarter valued at about $31,000. Simplicity Solutions LLC purchased a new stake in shares of Diversified Healthcare Trust during the first quarter worth about $33,000. Bleakley Financial Group LLC purchased a new stake in shares of Diversified Healthcare Trust during the first quarter worth about $33,000. Finally, M&T Bank Corp boosted its holdings in Diversified Healthcare Trust by 48.0% in the third quarter. M&T Bank Corp now owns 36,126 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 11,716 shares during the last quarter. 80.19% of the stock is owned by institutional investors and hedge funds.
About Diversified Healthcare Trust
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.
Read More
- Get a free copy of the StockNews.com research report on Diversified Healthcare Trust (DHC)
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