Diversified Healthcare Trust (DHC) Stock Overview
A real estate investment trust focused on owning high-quality healthcare properties located throughout the United States. More details
| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 0/6 |
| Past Performance | 0/6 |
| Financial Health | 4/6 |
| Dividends | 0/6 |
DHC Community Fair Values
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Analyst Price Targets
Diversified Healthcare Trust Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$8.32 |
| 52 Week High | US$9.14 |
| 52 Week Low | US$3.07 |
| Beta | 2.32 |
| 1 Month Change | 6.12% |
| 3 Month Change | 14.60% |
| 1 Year Change | 163.29% |
| 3 Year Change | 378.16% |
| 5 Year Change | 121.28% |
| Change since IPO | -50.33% |
Recent News & Updates
Narrative Update • May 25
DHC: 2026 Outlook And Firmer Margins Will Narrow Peer Discount
Analysts have nudged their fair value estimate for Diversified Healthcare Trust to $10.00 from $9.50, citing refreshed models that reflect updated assumptions on revenue growth, profit margins, and a slightly adjusted P/E multiple, along with a series of recent bullish initiations and price target increases on the stock. Analyst Commentary Recent Street research has leaned constructive on Diversified Healthcare Trust, with several bullish analysts revisiting their models and price targets in light of updated outlooks through 2026.Narrative Update • May 10
DHC: 2026 Outlook And Firmer Margins Will Support Peer Repricing Potential
Analysts lifted their average price target on Diversified Healthcare Trust to $9.50 from $8.50, citing updated fair value work, slightly adjusted discount rate assumptions, expectations for steadier revenue growth with firming profit margins, and the potential for a higher future P/E multiple supported by recent bullish research coverage. Analyst Commentary Recent research has tilted firmly positive, with bullish analysts pointing to the updated fair value work, the refined discount rate assumptions, and the 2026 outlook as key supports for higher valuation scenarios.Narrative Update • Apr 24
DHC: 2026 Outlook And Peer Discount Will Drive Repricing Potential
Analysts have raised their price target on Diversified Healthcare Trust to $8.50 from $6.50, noting what they describe as attractive value growth potential into 2026 and a discount to peers that they consider too severe. Analyst Commentary Bullish analysts are pointing to what they see as a mismatch between the updated price target on Diversified Healthcare Trust and where the shares currently trade, highlighting a discount to peers that they describe as too severe.Recent updates
Narrative Update • May 25
DHC: 2026 Outlook And Firmer Margins Will Narrow Peer Discount
Analysts have nudged their fair value estimate for Diversified Healthcare Trust to $10.00 from $9.50, citing refreshed models that reflect updated assumptions on revenue growth, profit margins, and a slightly adjusted P/E multiple, along with a series of recent bullish initiations and price target increases on the stock. Analyst Commentary Recent Street research has leaned constructive on Diversified Healthcare Trust, with several bullish analysts revisiting their models and price targets in light of updated outlooks through 2026.Narrative Update • May 10
DHC: 2026 Outlook And Firmer Margins Will Support Peer Repricing Potential
Analysts lifted their average price target on Diversified Healthcare Trust to $9.50 from $8.50, citing updated fair value work, slightly adjusted discount rate assumptions, expectations for steadier revenue growth with firming profit margins, and the potential for a higher future P/E multiple supported by recent bullish research coverage. Analyst Commentary Recent research has tilted firmly positive, with bullish analysts pointing to the updated fair value work, the refined discount rate assumptions, and the 2026 outlook as key supports for higher valuation scenarios.Narrative Update • Apr 24
DHC: 2026 Outlook And Peer Discount Will Drive Repricing Potential
Analysts have raised their price target on Diversified Healthcare Trust to $8.50 from $6.50, noting what they describe as attractive value growth potential into 2026 and a discount to peers that they consider too severe. Analyst Commentary Bullish analysts are pointing to what they see as a mismatch between the updated price target on Diversified Healthcare Trust and where the shares currently trade, highlighting a discount to peers that they describe as too severe.Narrative Update • Apr 10
DHC: Steep Peer Discount And 2026 Outlook Will Support Repricing
Analysts have raised their price target on Diversified Healthcare Trust to $8.50 from $6.50, citing what they describe as strong value growth potential into 2026 and a current discount to peers that they view as too steep. Analyst Commentary Bullish analysts point to the higher price target of $8.50 as a reflection of what they view as attractive value growth potential into 2026.Narrative Update • Mar 27
DHC: Steeper Peer Discount And 2026 Outlook Will Drive Repricing
Analysts have raised their price target on Diversified Healthcare Trust to $8.50 from $6.50, citing what they describe as stronger value growth potential by 2026 and a current discount to peers they consider too steep. Analyst Commentary Bullish analysts see the higher US$8.50 price target as a reflection of what they describe as stronger value growth potential by 2026, compared with their earlier US$6.50 view.
Narrative Update • Mar 09
DHC: 2026 Outlook And Peer Discount Will Shape Balanced Risk Profile
Analysts have lifted their fair value estimate for Diversified Healthcare Trust to $7.25 from $5.75, citing updated assumptions on discount rate, revenue growth, profit margins and future P/E, as well as recent Street research that highlights perceived value growth potential and a discount to peers viewed as too severe. Analyst Commentary Bullish Takeaways Bullish analysts see the lift in fair value to $7.25 and the separate price target of $8.50 as consistent with a view that current pricing does not fully reflect perceived value growth potential.
Narrative Update • Feb 23
DHC: Lower Discount Rate Will Clash With Weaker Margin Assumptions
Analysts have modestly adjusted their price target for Diversified Healthcare Trust to $5.00, reflecting updated assumptions around discount rates, revenue growth, profit margins, and future P/E, while keeping their fair value view steady at $5.00. Valuation Changes Fair Value: Modelled fair value is held steady at $5.00 per share, indicating no change in the overall valuation anchor.Narrative Update • Feb 09
DHC: Sector Upgrade To US$5 Will Mask Ongoing Overvaluation Risk
Analysts raised their price target for Diversified Healthcare Trust to $5.00 from $3.00 after incorporating updated assumptions on discount rates, profitability and forward P/E. This shift was reflected in a recent upgrade to Sector Perform.Narrative Update • Jan 26
DHC: Sector Upgrade And Refined Assumptions Will Support Balanced Risk Reward
Analysts have raised their price target for Diversified Healthcare Trust to $5.75 from $5.25, reflecting updated assumptions on the discount rate, revenue growth, profit margin and future P/E. These assumptions are broadly consistent with the recent upgrade to Sector Perform and the higher $5 price target cited in Street research.Narrative Update • Jan 11
DHC: Sector Perform Upgrade Will Support Repricing On Revised Discount And P/E Assumptions
Analysts have lifted their price target for Diversified Healthcare Trust from about $5.50 to roughly $6.50, citing updated assumptions for the discount rate, revenue growth, profit margin and future P/E, along with a recent upgrade to Sector Perform with a higher US$5 target from Street research. Analyst Commentary Recent Street research points to a more constructive stance on Diversified Healthcare Trust, with bullish analysts moving to a neutral footing and setting higher price targets that they see as better aligned with updated assumptions on discount rate, revenue trajectory, profit margins and future P/E.Narrative Update • Dec 26
DHC: Sector Upgrade Will Test Revenue Outlook Against Execution Risks
Analysts have raised their price target on Diversified Healthcare Trust from $3.00 to $5.00 per share, citing a lower perceived discount rate and an improved revenue growth outlook that more than offset slightly softer margin expectations. Analyst Commentary Following the recent price target increase, Bearish analysts are emphasizing that the new valuation already embeds a substantial portion of the anticipated recovery in fundamentals.Narrative Update • Dec 12
DHC: Improved Capital Flexibility Will Drive Repricing Despite Higher Interest Costs
The analyst price target for Diversified Healthcare Trust has been raised from $4.50 to $5.50 per share, as analysts point to improved capital flexibility and more favorable growth and valuation assumptions that outweigh modest margin and interest headwinds. Analyst Commentary Bullish analysts have recently highlighted a more constructive outlook on Diversified Healthcare Trust, reflecting growing confidence in the company’s balance sheet, earnings trajectory, and ability to execute on its strategic priorities.Narrative Update • Nov 28
DHC: Greater Capital Flexibility Will Offset Debt and Interest Rate Headwinds
Analysts have increased their price target for Diversified Healthcare Trust from $4.50 to as high as $5.50, citing improved capital flexibility. This improvement is expected to offset headwinds from higher interest expenses and provide greater certainty around upcoming debt repayments.Narrative Update • Nov 14
DHC: Greater Capital Flexibility Will Drive Stability Amid Higher Interest Costs
The analyst price target for Diversified Healthcare Trust has increased from $4.25 to $5.25 per share. Analysts point to greater capital flexibility and an improved profit margin outlook as the factors supporting the upward revision.Narrative Update • Sep 18
Aging US Population And Outpatient Care Demand Will Transform Markets
Analysts have raised their price target for Diversified Healthcare Trust from $3.75 to $4.25, citing improved capital flexibility and a de-risked near-term debt profile that enhances balance sheet visibility despite higher interest expense expectations. Analyst Commentary Increased capital flexibility following recent debt pricing improves the company’s financial positioning.Seeking Alpha • Sep 15
Diversified Healthcare Trust: Debt Composition And Cash Flow Weigh On Baby Bonds
Summary Diversified Healthcare Trust faces ongoing challenges, with high leverage, weak earnings, and increased reliance on secured debt. Despite revenue and occupancy gains in 2025, DHC continues to post net losses and negative free cash flow, raising concerns about long-term sustainability. The shift from unsecured to secured debt, with more assets pledged as collateral, heightens risk for unsecured noteholders and equity investors. Given persistent cash flow issues and rising financial risk, I recommend avoiding DHC shares and baby bonds at this time. Read the full article on Seeking Alpha
New Narrative • Mar 28
Asset Sales And Refinancing Will Reignite REIT Liquidity Amid Risks
Planned property sales may not offset lost future revenue, risking an overall revenue decline and impacting profitability.Seeking Alpha • Nov 21
Diversified Healthcare Trust: Cash Flow Burn And Debt Refinance Continue To Raise Concerns
Summary Diversified Healthcare Trust's stock underperforms due to liquidity issues, with medical office properties dragging down earnings despite senior living segment support. Third-quarter revenue rose, but higher expenses and interest costs led to a significant net loss and declining shareholder equity. The company improved operating cash flow but still burns free cash flow and faces substantial debt maturities in 2025 and 2026. Occupancy risks and potential pivot to more secured debt make investing in Diversified Healthcare's baby bonds too risky at this time. Read the full article on Seeking AlphaSeeking Alpha • Nov 05
Diversified Healthcare: The Baby Bonds Still Look The Most Appealing
Summary Diversified Healthcare Trust's (DHC) reported Q3-2024 results and the stock tanked. Despite improvements in the SHOP segment, DHC struggles with high debt and poor cash flow visibility. We examine the different bonds one can consider in lieu of the common shares. Read the full article on Seeking AlphaSeeking Alpha • Aug 06
Diversified Healthcare Trust: Progress Being Made, But I'm Still Neutral
Summary Diversified Healthcare Trust's revenue improved in Q2, but there was a growing net loss primarily due to increased interest expenses. Occupancy levels in senior housing are rising, but challenges in the medical office and life science portfolio remain. DHC faces a debt maturity wall in 2025 and 2026, with plans to refinance through secured debt deals to lower interest expenses. Read the full article on Seeking AlphaSeeking Alpha • Mar 05
Diversified Healthcare Trust: A Look At The 9% Yielding Baby Bonds
Summary Diversified Healthcare Trust's merger with Office Properties Income Trust was called off and Office Properties has underperformed Diversified Healthcare by 85% since then. Diversified Healthcare's Q4 2023 results showed significant improvement in net operating income, but the company is translating very little NOI into funds from operations. We update our outlook for the Diversified Healthcare Trust equity and the bonds. Read the full article on Seeking AlphaSeeking Alpha • Jan 26
Diversified Healthcare Trust: Hurtin' For Certain
Summary Diversified Healthcare Trust is down 22.2% YTD, while the average REIT is down 3.44%. However, DHC shares are up a phenomenal 295.5% in the trailing 12 months, while VNQ shares are down 2.5%. The company's fundamentals, particularly in the balance sheet, raise questions about its long-term prospects and whether last year's gains were sustainable. Read the full article on Seeking AlphaSeeking Alpha • Oct 13
Diversified Healthcare Trust declares $0.01 dividend
Diversified Healthcare Trust (NASDAQ:DHC) declares $0.01/share quarterly dividend, in line with previous. Forward yield 4.12% Payable Nov. 17; for shareholders of record Oct. 24; ex-div Oct. 21. See DHC Dividend Scorecard, Yield Chart, & Dividend Growth.Seeking Alpha • Jul 14
Diversified Healthcare Trust declares $0.01 dividend
Diversified Healthcare Trust (NASDAQ:DHC) declares $0.01/share quarterly dividend, in line with previous. Forward yield 2.34% Payable Aug. 18; for shareholders of record July 25; ex-div July 22. See DHC Dividend Scorecard, Yield Chart, & Dividend Growth.Seeking Alpha • Jun 29
Diversified Healthcare sells 10% stake in Boston complex for $108M
Diversified Healthcare Trust (NASDAQ:DHC) has sold an additional 10% equity interest in a two-building life science complex in Boston to an existing joint venture partner for ~$108M, it said Wednesday. The purchasing partner now owns a 45% stake in the joint venture, another partners continues to own a 45% equity interest, and DHC now owns 10% of the venture. The transaction price is based on a property valuation of $1.7B less the $620M of existing secured debt on the property. Diversified Healthcare (DHC) plans to use the proceeds to fund capital expenditures, to reduce outstanding debt, and for other general business purposes. The property was acquired by DHC in May 2014 for $1.1B and consists of two 15-story class A LEED Gold certified life science buildings in Boston's Seaport district. The buildings are ~95% leased to Vertex Pharmaceuticals and include 1.1M rentable square feet of lab, corporate office, and street level retail space. In January, DHC entered into a $703M joint venture for 10 properties in its office portfolio with two institutional investors.Shareholder Returns
| DHC | US Health Care REITs | US Market | |
|---|---|---|---|
| 7D | -4.9% | -3.9% | 1.6% |
| 1Y | 163.3% | 26.6% | 28.2% |
Return vs Industry: DHC exceeded the US Health Care REITs industry which returned 26.6% over the past year.
Return vs Market: DHC exceeded the US Market which returned 28.2% over the past year.
Price Volatility
| DHC volatility | |
|---|---|
| DHC Average Weekly Movement | 6.3% |
| Health Care REITs Industry Average Movement | 3.9% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.8% |
| 10% least volatile stocks in US Market | 3.0% |
Stable Share Price: DHC has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: DHC's weekly volatility (6%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1998 | n/a | Chris Bilotto | www.dhcreit.com |
Diversified Healthcare Trust is a real estate investment trust 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. As of March 31, 2026, DHC’s approximately 6.2 billion dollars portfolio included 285 properties in 33 states and Washington, D.C., with 23,901 senior living units, approximately 5.6 million square feet of medical office and life science properties and occupied by approximately 250 tenants.
Diversified Healthcare Trust Fundamentals Summary
| DHC fundamental statistics | |
|---|---|
| Market cap | US$2.01b |
| Earnings (TTM) | -US$320.17m |
| Revenue (TTM) | US$1.52b |
1.3x
P/S Ratio-6.3x
P/E RatioIs DHC overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| DHC income statement (TTM) | |
|---|---|
| Revenue | US$1.52b |
| Cost of Revenue | US$1.25b |
| Gross Profit | US$267.87m |
| Other Expenses | US$588.04m |
| Earnings | -US$320.17m |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | -1.32 |
| Gross Margin | 17.65% |
| Net Profit Margin | -21.10% |
| Debt/Equity Ratio | 148.2% |
How did DHC perform over the long term?
See historical performance and comparisonDividends
0.5%
Current Dividend Yield27%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/01 04:29 |
| End of Day Share Price | 2026/05/29 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Diversified Healthcare Trust is covered by 16 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Andrew Babin | Baird |
| Joshua Dennerlein | BofA Global Research |
| Michael Gorman | Brean Capital Historical (Janney Montgomery) |