PNC Financial Services Group Inc. Reduces Position in Diversified Healthcare Trust (NASDAQ:DHC)

PNC Financial Services Group Inc. lessened its holdings in shares of Diversified Healthcare Trust (NASDAQ:DHC) by 33.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,476 shares of the real estate investment trust’s stock after selling 6,675 shares during the period. PNC Financial Services Group Inc.’s holdings in Diversified Healthcare Trust were worth $57,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of DHC. FMR LLC grew its stake in shares of Diversified Healthcare Trust by 8.9% in the 1st quarter. FMR LLC now owns 2,911,571 shares of the real estate investment trust’s stock valued at $34,298,000 after buying an additional 237,216 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Diversified Healthcare Trust by 38.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 72,015 shares of the real estate investment trust’s stock worth $344,000 after acquiring an additional 20,131 shares during the last quarter. Standard Life Aberdeen plc lifted its holdings in shares of Diversified Healthcare Trust by 49.6% in the 1st quarter. Standard Life Aberdeen plc now owns 23,076 shares of the real estate investment trust’s stock worth $110,000 after acquiring an additional 7,648 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Diversified Healthcare Trust by 1.0% in the 1st quarter. Rhumbline Advisers now owns 907,243 shares of the real estate investment trust’s stock worth $4,337,000 after acquiring an additional 9,022 shares during the last quarter. Finally, The PNC Financial Services Group Inc. lifted its holdings in Diversified Healthcare Trust by 28.0% during the 1st quarter. The PNC Financial Services Group Inc. now owns 20,151 shares of the real estate investment trust’s stock worth $96,000 after buying an additional 4,403 shares in the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

A number of research firms have issued reports on DHC. Morgan Stanley reduced their target price on shares of Diversified Healthcare Trust from $5.00 to $4.75 and set an “equal weight” rating on the stock in a report on Thursday, July 29th. Colliers Securities reaffirmed a “hold” rating and issued a $5.00 target price on shares of Diversified Healthcare Trust in a research report on Friday, July 16th. Finally, Zacks Investment Research raised shares of Diversified Healthcare Trust from a “sell” rating to a “hold” rating in a research report on Thursday, August 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.50.

Shares of DHC opened at $3.54 on Thursday. The stock has a market cap of $843.85 million, a P/E ratio of -3.76, a PEG ratio of 2.32 and a beta of 1.39. Diversified Healthcare Trust has a 12-month low of $2.85 and a 12-month high of $5.58. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.39. The company has a 50-day moving average of $3.75 and a two-hundred day moving average of $4.11.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 19th. Stockholders of record on Monday, July 26th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, July 23rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.13%. Diversified Healthcare Trust’s dividend payout ratio (DPR) is presently 5.97%.

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.

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Institutional Ownership by Quarter for Diversified Healthcare Trust (NASDAQ:DHC)

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