Tearsheet

Diversified Healthcare Trust (DHC)

Market Price (6/13/2026): $9.035 | Market Cap: $2.2 BilSector: Real Estate | Industry: Health Care REITs

Diversified Healthcare Trust (DHC)

Market Price (6/13/2026): $9.035
Market Cap: $2.2 Bil
Sector: Real Estate
Industry: Health Care REITs

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Low stock price volatility
Vol 12M is 41%

Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Geriatric Care, and Biopharmaceutical R&D.

Trading close to highs
Dist 52W High is -1.1%, Dist 3Y High is -1.1%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -25 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.7%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 105%

Stock price has recently run up significantly
12M Rtn12 month market price return is 164%

Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -5.3%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 89%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -18%

Key risks
DHC key risks include [1] substantial leverage and challenging debt maturities that have raised going concern doubts, Show more.

0	Low stock price volatility Vol 12M is 41%
1	Megatrend and thematic drivers Megatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Geriatric Care, and Biopharmaceutical R&D.
2	Trading close to highs Dist 52W High is -1.1%, Dist 3Y High is -1.1%
3	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -25 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.7%
4	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 105%
5	Stock price has recently run up significantly 12M Rtn12 month market price return is 164%
6	Weak revenue growth Rev Chg QQuarterly Revenue Change % is -5.3%
7	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 89%
8	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -18%
9	Key risks DHC key risks include [1] substantial leverage and challenging debt maturities that have raised going concern doubts, Show more.

Valuation & Metrics

FYE: 12/31	Forward FYE		Now	Historical (CYE & TTM)
	2027	2026	6/13/26	2025	2024	2023	2022
Share Price			$9.04	$4.85	$2.30	$3.74	$0.65
Mkt Cap ($ Bil)			2.2	1.2	0.6	0.9	0.2
+ Debt ($ Bil)			2.4	2.4	2.9	2.8	3.0
- Cash ($ Bil)			0.1	0.1	0.1	0.2	0.7
TEV ($ Bil)			4.5	3.6	3.5	3.7	3.2
Valuation Ratios
P/S	1.4	1.5	1.4	0.8	0.4	0.6	0.1
P/EBIT	21.8	23.2	-12.9	-10.1	-4.1	-11.1	0.8
P/E	—	—	-6.8	-4.1	-1.5	-3.0	-9.8
P/FCF	—	—	-270.7	-59.5	4.9	85.3	-3.8
Sector Ratios (* = sector average)
P/S *			4.1	4.0	4.5	4.6	4.6
P/EBIT *			13.7	12.3	13.1	13.5	14.0
P/E *			20.9	18.0	22.8	20.2	19.5
P/FCF *			13.8	11.8	13.1	12.3	11.4

FYE: 12/31	Forward FYE		Now
	2027	2026	6/13/26
Share Price			$9.04
Mkt Cap ($ Bil)			2.2
+ Debt ($ Bil)			2.4
- Cash ($ Bil)			0.1
TEV ($ Bil)			4.5
Valuation Ratios
P/S	1.4	1.5	1.4
P/EBIT	21.8	23.2	-12.9
P/E	—	—	-6.8
P/FCF	—	—	-270.7
Sector Ratios (* = sector average)
P/S *			4.1
P/EBIT *			13.7
P/E *			20.9
P/FCF *			13.8

FYE: 12/31	DHC [1]	S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]	$1.5 Bil	—
FY 2026 Sales	$1.5 Bil	—
FY 2027 Sales	$1.6 Bil	—
FY 2026 Sales Growth	-1.6%	—
FY 2027 Sales Growth	6.7%	7.8%
EARNINGS
LTM Net Income (GAAP) [3]	$-320.2 Mil	—
FY 2026 Net Income (Non-GAAP)	$-141.9 Mil	—
FY 2027 Net Income (Non-GAAP)	$-105.2 Mil	—
FY 2027 Net Income Growth	—	14.6%
FY 2026 EPS (Non-GAAP)	$-0.60	—
FY 2027 EPS (Non-GAAP)	$-0.44	—
FY 2027 EPS Growth	—	—
VALUATION
FY 2026 P/S	1.5	3.3
FY 2027 P/S	1.4	—
FY 2026 P/E	—	20.1
FY 2027 P/E	—	—

[1] DHC forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 6/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).

	DHC	S&P 500
REVENUE GROWTH
Rev LTM ($ Bil)	1.5
Rev Chg Q	-5.3%	8.8%
Rev Chg LTM	0.4%	7.4%
Rev Chg 3Y Avg	4.8%	5.8%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	-0.0
CFO LTM ($ Bil)	-0.0
Net Inc LTM ($ Bil)	-0.3
Op Mgn LTM	-1.7%	18.4%
CFO/Rev LTM	-0.5%	21.3%
Net Inc Mgn	-21.1%	13.0%
VALUATION	LOW
P/S	1.4	3.3
P/CFO	-270.7	15.0
P/FCF	-270.7	19.4
P/E	-6.8	24.0

AI Analysis | Feedback

Metric	Value	Date	Source
Number of Properties	335	11052025	Link
Number of Senior Living Units	more than 26,000	11052025	Link
Medical Office and Life Science Properties Square Feet	approximately 6.9 million	11052025	Link
Number of Tenants	around 420	11052025	Link
SHOP Same-Property NOI Growth	18.5%	7252025	Link
SHOP NOI Margin	11.2%	7252025	Link
Number of Properties Sold Year-to-Date	44	11042025	Link
Proceeds from Properties Sold Year-to-Date	$396 million	11042025	Link
Number of Properties Under Agreement to Sell	38	11032025	Link
Proceeds from Properties Under Agreement to Sell	$237 million	11032025	Link

Price Chart

No Events

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/12/2026

Diversified Healthcare Trust (DHC) stock has gained about 35% since 2/28/2026 because of the following key factors:

1. Diversified Healthcare Trust demonstrated significant operational improvements in its fiscal Q1 2026, driving investor confidence. The company reported a Normalized FFO of $0.14 per share for the quarter ended March 31, 2026, surpassing analyst estimates of $0.13 by 7.69%. This was more than double the Normalized FFO from the prior-year quarter. Key to this improvement was a 13.5% year-over-year increase in same-property Senior Housing Operating Portfolio (SHOP) Net Operating Income (NOI), reaching $44.3 million in fiscal Q1 2026. Additionally, same-property medical office and life science cash basis NOI grew 3.0%, with occupancy at 95.3%. Despite missing revenue and EPS forecasts, the stock rose 4.2% in after-hours trading following the fiscal Q1 2026 earnings announcement, signaling investor focus on these operational strengths and the company's reaffirmed full-year 2026 guidance, which projects 26-33% SHOP NOI growth.

2. The company's financial stability improved, marked by reduced leverage and a credit rating upgrade. In fiscal Q1 2026, Diversified Healthcare Trust decreased its net debt to annualized Adjusted EBITDAre to 7.8x, down from 8.1x in the prior quarter and 8.8x a year earlier. This improvement in leverage, along with an Adjusted EBITDAre to interest expense ratio strengthening to 2.0x from 1.3x year-over-year, contributed to enhanced financial health. Further bolstering investor sentiment, Moody's upgraded DHC's credit rating to B3 with a positive outlook, citing stronger balance sheet management.

Show more

Holding a concentrated position? Know your true downside before the momentum shifts.

Protect Your Wealth →

Stock Movement Drivers

Fundamental Drivers

The 33.6% change in DHC stock from 2/28/2026 to 6/12/2026 was primarily driven by a 35.4% change in the company's P/S Multiple.

(LTM values as of)	2282026	6122026	Change
Stock Price ($)	6.76	9.03	33.6%
Change Contribution By:
Total Revenues ($ Mil)	1,538	1,517	-1.3%
P/S Multiple	1.1	1.4	35.4%
Shares Outstanding (Mil)	241	241	0.0%
Cumulative Contribution			33.6%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/12/2026

	Return	Correlation
DHC	33.6%
Market (SPY)	8.4%	37.9%
Sector (XLRE)	4.2%	52.0%

Fundamental Drivers

The 87.3% change in DHC stock from 11/30/2025 to 6/12/2026 was primarily driven by a 90.0% change in the company's P/S Multiple.

(LTM values as of)	11302025	6122026	Change
Stock Price ($)	4.82	9.03	87.3%
Change Contribution By:
Total Revenues ($ Mil)	1,538	1,517	-1.3%
P/S Multiple	0.8	1.4	90.0%
Shares Outstanding (Mil)	240	241	-0.1%
Cumulative Contribution			87.3%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/12/2026

	Return	Correlation
DHC	87.3%
Market (SPY)	9.2%	22.2%
Sector (XLRE)	10.8%	40.2%

Fundamental Drivers

The 190.5% change in DHC stock from 5/31/2025 to 6/12/2026 was primarily driven by a 190.3% change in the company's P/S Multiple.

(LTM values as of)	5312025	6122026	Change
Stock Price ($)	3.11	9.03	190.5%
Change Contribution By:
Total Revenues ($ Mil)	1,512	1,517	0.4%
P/S Multiple	0.5	1.4	190.3%
Shares Outstanding (Mil)	240	241	-0.3%
Cumulative Contribution			190.5%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/12/2026

	Return	Correlation
DHC	190.5%
Market (SPY)	27.3%	22.5%
Sector (XLRE)	12.5%	39.3%

Fundamental Drivers

The 590.5% change in DHC stock from 5/31/2023 to 6/12/2026 was primarily driven by a 505.4% change in the company's P/S Multiple.

(LTM values as of)	5312023	6122026	Change
Stock Price ($)	1.31	9.03	590.5%
Change Contribution By:
Total Revenues ($ Mil)	1,319	1,517	15.1%
P/S Multiple	0.2	1.4	505.4%
Shares Outstanding (Mil)	239	241	-0.9%
Cumulative Contribution			590.5%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/12/2026

	Return	Correlation
DHC	590.5%
Market (SPY)	84.5%	25.2%
Sector (XLRE)	39.5%	38.7%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
DHC Return	-24%	-79%	498%	-38%	114%	82%	135%
Peers Return	10%	-11%	17%	27%	27%	10%	101%
S&P 500 Return	27%	-19%	24%	23%	16%	8%	97%
Monthly Win Rates [3]
DHC Win Rate	42%	25%	75%	50%	67%	83%
Peers Win Rate	53%	43%	62%	70%	58%	53%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
DHC Max Drawdown	-54%	-81%	-56%	-48%	-27%	-12%
Peers Max Drawdown	-20%	-31%	-20%	-16%	-11%	-14%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: WELL, VTR, OHI, NHI, HR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/12/2026 (YTD)

Event	DHC	S&P 500
2025 US Tariff Shock
% Loss	-23.0%	-18.8%
% Gain to Breakeven	30.0%	23.1%
Time to Breakeven	25 days	79 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-26.7%	-9.5%
% Gain to Breakeven	36.5%	10.5%
Time to Breakeven	11 days	24 days
2022 Inflation Shock & Fed Tightening
% Loss	-71.5%	-24.5%
% Gain to Breakeven	250.6%	32.4%
Time to Breakeven	305 days	427 days
2020 COVID-19 Crash
% Loss	-72.4%	-33.7%
% Gain to Breakeven	261.8%	50.9%
Time to Breakeven	2175 days	140 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-18.0%	-12.2%
% Gain to Breakeven	21.9%	13.9%
Time to Breakeven	112 days	62 days
2014-2016 Oil Price Collapse
% Loss	-34.4%	-6.8%
% Gain to Breakeven	52.4%	7.3%
Time to Breakeven	221 days	15 days

Compare to WELL, VTR, OHI, NHI, HR

In The Past

Diversified Healthcare Trust's stock fell -23.0% during the 2025 US Tariff Shock. Such a loss loss requires a 30.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	DHC	S&P 500
2025 US Tariff Shock
% Loss	-23.0%	-18.8%
% Gain to Breakeven	30.0%	23.1%
Time to Breakeven	25 days	79 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-26.7%	-9.5%
% Gain to Breakeven	36.5%	10.5%
Time to Breakeven	11 days	24 days
2022 Inflation Shock & Fed Tightening
% Loss	-71.5%	-24.5%
% Gain to Breakeven	250.6%	32.4%
Time to Breakeven	305 days	427 days
2020 COVID-19 Crash
% Loss	-72.4%	-33.7%
% Gain to Breakeven	261.8%	50.9%
Time to Breakeven	2175 days	140 days
2014-2016 Oil Price Collapse
% Loss	-34.4%	-6.8%
% Gain to Breakeven	52.4%	7.3%
Time to Breakeven	221 days	15 days
2013 Taper Tantrum
% Loss	-21.9%	-0.2%
% Gain to Breakeven	28.1%	0.2%
Time to Breakeven	880 days	1 days
2011 US Debt Ceiling Crisis & European Contagion
% Loss	-22.0%	-17.9%
% Gain to Breakeven	28.3%	21.8%
Time to Breakeven	344 days	123 days
2008-2009 Global Financial Crisis
% Loss	-54.4%	-53.4%
% Gain to Breakeven	119.4%	114.4%
Time to Breakeven	249 days	1085 days

Compare to WELL, VTR, OHI, NHI, HR

In The Past

Diversified Healthcare Trust's stock fell -23.0% during the 2025 US Tariff Shock. Such a loss loss requires a 30.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Diversified Healthcare Trust (DHC)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

DHC is a real estate investment trust, or REIT, that owns medical office and life science properties, senior living communities and wellness centers throughout the United States. DHC is managed by the operating subsidiary of The RMR Group Inc., an alternative asset management company that is headquartered in Newton, MA.

AI Analysis | Feedback

Here are 1-2 brief analogies for Diversified Healthcare Trust (DHC):

It's like Realty Income (O), but exclusively owns real estate for medical offices, life science properties, and senior living communities.
Consider it the American Tower (AMT) of healthcare real estate, providing the physical spaces for medical offices, labs, and senior living facilities.

AI Analysis | Feedback

Medical Office Properties: Real estate leased to medical practices, clinics, and other healthcare providers.
Life Science Properties: Facilities designed and leased for biotechnology, pharmaceutical research, and development companies.
Senior Living Communities: Residential properties that provide housing and services for older adults.
Wellness Centers: Real estate dedicated to health, fitness, and overall well-being services.

AI Analysis | Feedback

Diversified Healthcare Trust (DHC) is a real estate investment trust (REIT) that primarily generates revenue by leasing its medical office and life science properties, senior living communities, and wellness centers to other companies and organizations.

Its major customer is:

Five Star Senior Living Inc. (NASDAQ: FVE)

As of December 31, 2023, Five Star Senior Living Inc. accounted for approximately 38.3% of DHC's total rental revenues, primarily through the lease of senior living communities. DHC's medical office and life science properties are leased to a diverse group of approximately 1,140 tenants, with no single tenant in this segment representing more than 2.0% of total rental revenues.

AI Analysis | Feedback

The RMR Group Inc. (RMR)

AI Analysis | Feedback

Chris Bilotto President and Chief Executive Officer

Chris Bilotto was appointed President and Chief Executive Officer of Diversified Healthcare Trust in January 2024.

Matthew Brown Chief Financial Officer and Treasurer

Matthew Brown was appointed Chief Financial Officer and Treasurer of Diversified Healthcare Trust, effective October 1, 2023. He also serves as a Senior Vice President of The RMR Group (Nasdaq: RMR), where he is responsible for overseeing accounting and finance functions. Mr. Brown is a certified public accountant and previously held the position of Chief Financial Officer at Office Properties Income Trust (Nasdaq: OPI).

Adam D. Portnoy Chairman and Managing Trustee

Adam D. Portnoy serves as the Chairman and Managing Trustee of Diversified Healthcare Trust. He is also the President and Chief Executive Officer of The RMR Group Inc. (Nasdaq: RMR), which manages DHC, and a Managing Director of RMR. Mr. Portnoy co-founded Senior Housing Properties Trust (the former name of DHC) in 1999 with his father, Barry M. Portnoy, through The RMR Group. He serves on the Boards of several RMR-managed companies. Prior to joining RMR in 2003, Mr. Portnoy held various positions in the finance industry and public sector, including working as a banker at Donaldson, Lufkin & Jenrette and ABN AMRO, and in private equity at the International Finance Corporation (a member of The World Bank Group) and DLJ Merchant Banking Partners. He also previously served as Chief Executive Officer of a telecommunications company.

Anthony Paula Vice President

Anthony Paula holds the title of Vice President at Diversified Healthcare Trust.

Lindsey Getz Secretary

Lindsey Getz serves as the Secretary for Diversified Healthcare Trust.

AI Analysis | Feedback

```html

Key Risks to Diversified Healthcare Trust (DHC)

Diversified Healthcare Trust (DHC) faces several key risks inherent to the real estate investment trust (REIT) sector, particularly concerning its focus on healthcare-related properties and senior living communities. The most significant risks include its financial leverage, the operational performance of its senior housing portfolio, and broader market and industry volatility.

1. High Leverage and Refinancing Risk

DHC has historically grappled with a considerable financial burden, characterized by a high net debt-to-EBITDAre ratio. While the company has made efforts to manage its near-term debt maturities, including the full repayment of its 2026 zero coupon senior secured notes as of December 2025, the overall level of leverage and the need for future refinancing remain a significant concern. The successful navigation of upcoming obligations will necessitate continued refinancing efforts or strategic asset divestitures.

2. Senior Housing Operating Portfolio (SHOP) Performance and Operational Risks

The performance of DHC's Senior Housing Operating Portfolio (SHOP) segment is a critical factor influencing its financial health. This segment is exposed to various operational challenges, including elevated labor costs, labor availability issues, and high staffing turnover. Additionally, a trend of seniors delaying or opting against moves to senior living communities poses a risk to occupancy rates and revenue. DHC has recently undertaken significant transitions of management agreements for numerous SHOP communities to new operators, aiming to improve performance, but the success and effectiveness of these new management relationships in driving occupancy gains and operational efficiencies are ongoing risks.

3. Market and Industry Volatility and Competition

DHC operates within a highly competitive real estate and healthcare sector, making it susceptible to market and economic volatility. Factors such as interest rate uncertainties, inflation, and broader geopolitical instability can negatively impact demand for healthcare-related properties and senior living communities. These external pressures can affect occupancy levels, property income, and increase operating costs for DHC's tenants, potentially challenging the company's financial condition and its ability to pay distributions to shareholders.

```

AI Analysis | Feedback

```html

The continued expansion and adoption of telemedicine and virtual healthcare services, which reduces the need for in-person medical office visits and could decrease demand for DHC's medical office properties.
Technological advancements and societal preferences enabling "aging in place," allowing seniors to live independently in their homes for longer periods and potentially delaying or reducing the demand for DHC's senior living communities.
The proliferation of digital and home-based wellness and fitness platforms, offering alternatives to traditional physical wellness centers and potentially impacting the tenant demand and occupancy for DHC's wellness center properties.

```

AI Analysis | Feedback

Here are the addressable market sizes for Diversified Healthcare Trust's main products or services in the U.S. region:

Medical Office Properties: The U.S. medical office market is valued at over $150 billion.

Life Science Properties: null

Senior Living Communities: The U.S. senior living market size was valued at USD 943.90 billion in 2025.

Wellness Centers: The U.S. wellness real estate market was valued at $223 billion in 2024.

AI Analysis | Feedback

Diversified Healthcare Trust (DHC) is expected to drive future revenue growth over the next two to three years through several key initiatives and market trends:

Increased Occupancy and Higher Rates in Senior Housing Operating Portfolio (SHOP): DHC anticipates continued growth in both occupancy and average monthly rates within its Senior Housing Operating Portfolio (SHOP) properties. In the fourth quarter of 2025, the company reported a 90 basis point increase in same-property occupancy year-over-year and a 5.8% increase in average monthly rates. Management expects occupancy gains to be realized throughout 2026, with rate increases contributing to revenue generation early in the year.
Enhanced Operational Performance in SHOP Segment Post-Transition: The completion of the transition of 116 SHOP communities to new, regionally focused operators by December 31, 2025, is a significant driver. This operational overhaul is aimed at stabilizing and improving the financial performance of the SHOP segment, including optimizing operator cost structures, which is projected to lead to strong net operating income (NOI) margin growth.
Strong Leasing and Rent Growth in Medical Office and Life Science Properties: DHC's Medical Office and Life Science portfolio has demonstrated robust performance in leasing activity. In Q4 2025, the company completed approximately 81,000 square feet of leasing at weighted average rents 7.9% higher than prior leases for the same space. Consolidated occupancy in this segment also saw a sequential increase of 460 basis points to 91.2% in Q4 2025, indicating continued demand and revenue potential from these properties.
Strategic Reinvestment in Existing Properties: DHC plans to unlock value through operational growth by strategically reinvesting in its existing portfolio. The company has identified approximately 15 locations within its SHOP segment for potential expansion, which could add around 500 units with an anticipated mid-teens return on investment. These targeted capital expenditures are expected to increase capacity and directly contribute to future revenue.

AI Analysis | Feedback

Share Repurchases

In 2025, Diversified Healthcare Trust repurchased 16,845 shares to satisfy tax withholding obligations.

Share Issuance

Information regarding significant dollar amounts of shares issued for capital raising purposes over the last 3-5 years is not prominently disclosed in the available search results. The company's capital raising activities have focused on diversified funding sources, including debt.

Inbound Investments

In January 2022, DHC formed a new joint venture for 10 properties in its Office Portfolio segment with two third-party global institutional investors, receiving cash proceeds of $653.3 million.
In 2021, the company recapitalized a joint venture for a two-building life science complex in Boston's Seaport district.

Outbound Investments

Diversified Healthcare Trust is undertaking a capital recycling program, which included the sale of 69 properties for approximately $605 million in 2025.
Subsequent to the fourth quarter of 2025, DHC sold an additional 16 senior housing operating portfolio (SHOP) and 21 medical office and life science properties, generating approximately $251.2 million.
As of February 20, 2026, DHC had agreements to sell 13 more properties for an aggregate of $23 million, with expected closings in March 2026.

Capital Expenditures

For 2026, projected recurring capital expenditures for the SHOP segment are between $80 million and $90 million.
Recurring capital expenditures for the Medical Office Building/Life Science (MOB/LS) segment are estimated to be between $20 million and $25 million for 2026.
The company plans to invest in property redevelopment projects, particularly within its SHOP segment, to enhance market positioning and returns, including potentially adding 500 SHOP units through repositioning underutilized areas.

Interactive Breakdown

null

null

Better Bets vs. Diversified Healthcare Trust (DHC)

INDUSTRY: Health Care REITs

Amazon.com

AAPL (3.2%)

Apple

NVDA (3.2%)

NVIDIA

Best Bets in Real Estate

What You Pay

P/EBIT (Value for DHC: -12.9x)

CTRE (21.1x)

CareTrust REIT

WPC (19.7x)

W.P. Carey

NNN (14.8x)

NNN REIT

OHI (15.4x)

Omega Healthcare Investors

EPRT (17.4x)

Essential Properties Realty Trust

EPR (11.4x)

EPR Properties

VICI (7.6x)

VICI Properties

NHI (17.3x)

National Health Investors

GLPI (10.4x)

Gaming and Leisure Properties

SPG (10.9x)

Simon Property

P/E (Value for DHC: -6.8x)

CTRE (24.5x)

CareTrust REIT

WPC (32.7x)

W.P. Carey

NNN (22.7x)

NNN REIT

OHI (21.5x)

Omega Healthcare Investors

EPRT (25.3x)

Essential Properties Realty Trust

EPR (16.8x)

EPR Properties

VICI (9.8x)

VICI Properties

NHI (23.5x)

National Health Investors

GLPI (15.1x)

Gaming and Leisure Properties

SPG (15.2x)

Simon Property

What You Get

Rev Chg 3Y Avg (Value for DHC: 4.8%)

CTRE (32.7%)

CareTrust REIT

WPC (4.4%)

W.P. Carey

NNN (5.9%)

NNN REIT

OHI (13.4%)

Omega Healthcare Investors

EPRT (25.3%)

Essential Properties Realty Trust

EPR (2.9%)

EPR Properties

VICI (9.9%)

VICI Properties

NHI (11.6%)

National Health Investors

GLPI (6.2%)

Gaming and Leisure Properties

SPG (7.6%)

Simon Property

Rev Chg LTM (Value for DHC: 0.4%)

CTRE (68.8%)

CareTrust REIT

WPC (9.9%)

W.P. Carey

NNN (5.8%)

NNN REIT

OHI (14.0%)

Omega Healthcare Investors

EPRT (24.2%)

Essential Properties Realty Trust

EPR (4.8%)

EPR Properties

VICI (4.1%)

VICI Properties

NHI (17.1%)

National Health Investors

GLPI (4.4%)

Gaming and Leisure Properties

SPG (10.9%)

Simon Property

Rev Chg Q (Value for DHC: -5.3%)

CTRE (64.8%)

CareTrust REIT

WPC (10.9%)

W.P. Carey

NNN (4.1%)

NNN REIT

OHI (16.7%)

Omega Healthcare Investors

EPRT (22.8%)

Essential Properties Realty Trust

EPR (4.8%)

EPR Properties

VICI (3.5%)

VICI Properties

NHI (28.9%)

National Health Investors

GLPI (6.3%)

Gaming and Leisure Properties

SPG (19.3%)

Simon Property

FCF/Rev 3Y Avg (Value for DHC: 2.4%)

CTRE (92.3%)

CareTrust REIT

WPC (82.5%)

W.P. Carey

NNN (72.3%)

NNN REIT

OHI (71.1%)

Omega Healthcare Investors

EPRT (68.7%)

Essential Properties Realty Trust

EPR (63.2%)

EPR Properties

VICI (61.7%)

VICI Properties

NHI (60.6%)

National Health Investors

GLPI (59.7%)

Gaming and Leisure Properties

SPG (51.0%)

Simon Property

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 9.6%, alpha of 3.1%, and sharpe of 0.44

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	Diversified Healthcare Trust Earnings Notes	12/16/2025
2	Can Diversified Healthcare Trust Stock Hold Up When Markets Turn?	10/17/2025
3	Diversified Healthcare Trust (DHC) Revenue Comparison	08/08/2025
4	Diversified Healthcare Trust (DHC) Operating Cash Flow Comparison	08/08/2025
5	Diversified Healthcare Trust (DHC) Debt Comparison	08/08/2025
6	Diversified Healthcare Trust (DHC) Tax Expense Comparison	08/08/2025
7	Diversified Healthcare Trust (DHC) EBITDA Comparison	08/08/2025
8	Diversified Healthcare Trust (DHC) Net Income Comparison	08/08/2025
9	Diversified Healthcare Trust (DHC) Operating Income Comparison	08/08/2025
10	Why Diversified Healthcare Trust Stock Moved: DHC Stock Has Gained 745% Since 2022 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)	08/08/2025

	Title
0	ARTICLES

Trade Ideas

Select ideas related to DHC.

null

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ROKU	Roku	21.2	20.1%	32.4%
TBN	Tamboran Resources	0.9	19.9%	48.3%
STTK	Shattuck Labs	0.6	18.2%	35.3%
SENEA	Seneca Foods	1.2	17.5%	58.5%
ALMS	Alumis	3.0	15.6%	147.4%
ELVN	Enliven Therapeutics	2.9	14.3%	199.5%
AKTS	Aktis Oncology	1.1	12.7%	∞%
ZBIO	Zenas BioPharma	1.1	11.5%	-45.5%
POET	POET Technologies	1.8	11.4%	97.9%
VYX	NCR Voyix	1.1	10.3%	-23.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FLY	Firefly Aerospace	5.1	-19.1%	42.5%
YSS	York Space Systems	3.5	-17.9%	-17.6%
VELO	Velo3D	0.5	-16.7%	85.6%
ASTS	AST SpaceMobile	24.0	-15.5%	13.5%
OMER	Omeros	0.6	-14.2%	-49.1%
VOYG	Voyager Technologies	2.4	-14.0%	57.4%
LUNR	Intuitive Machines	3.2	-13.1%	64.0%
SHAZ	SharonAI	0.9	-12.9%	-32.6%
SWMR	Swarmer	0.7	-12.7%	45.8%
NAVN	Navan	5.0	-11.9%	16.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
VELO	Velo3D	0.5	60.9%	85.6%
TNGX	Tango Therapeutics	4.4	53.0%	249.2%
CBRL	Cracker Barrel Old Country Store	1.0	39.2%	86.6%
ICHR	Ichor	3.0	38.0%	371.0%
NUVL	Nuvalent	9.7	35.5%	22.5%
CNTN	Canton Strategic	0.6	34.3%	2.0%
PAYO	Payoneer Global	2.3	33.9%	20.1%
ELVN	Enliven Therapeutics	2.9	32.9%	199.5%
GLXY	Galaxy Digital	6.4	32.7%	49.2%
UCTT	Ultra Clean	4.9	32.7%	329.9%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
PCT	PureCycle Technologies	1.6	-29.0%	3.4%
SMCI	Super Micro Computer	18.3	-26.8%	4.1%
SWMR	Swarmer	0.7	-25.6%	45.8%
WOLF	Wolfspeed	1.7	-21.6%	147.8%
NRGV	Energy Vault	0.7	-21.4%	-6.7%
MRLN	Merlin	0.5	-20.8%	-71.0%
SAIL	SailPoint	8.2	-19.8%	-27.7%
PRIM	Primoris Services	5.3	-19.0%	-20.5%
ADBE	Adobe	83.6	-18.9%	-41.7%
TMCR	Metals Royalty	0.5	-18.6%	-33.3%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
NVRI	Enviri	1.8	295.5%	329.9%
APPS	Digital Turbine	1.1	136.9%	95.2%
HYLN	Hyliion	1.3	106.1%	302.2%
AMC	AMC Entertainment	1.3	75.9%	50.0%
REPL	Replimune	0.8	67.5%	-8.6%
ALAB	Astera Labs	62.7	63.8%	120.7%
UMAC	Unusual Machines	0.9	63.2%	91.8%
GENI	Genius Sports	1.8	62.7%	-37.8%
DELL	Dell Technologies	261.1	62.2%	215.6%
CBRL	Cracker Barrel Old Country Store	1.0	61.3%	86.6%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
ADCT	ADC Therapeutics	0.2	-69.8%	-70.3%
VRRM	Verra Mobility	0.7	-65.2%	-79.2%
BTGO	BitGo	0.5	-58.2%	-73.1%
FULC	Fulcrum Therapeutics	0.3	-52.4%	-69.5%
LWLG	Lightwave Logic	1.4	-47.4%	196.0%
MRAM	Everspin Technologies	0.6	-41.1%	163.0%
HYMC	Hycroft Mining	2.3	-41.0%	8.4%
OMER	Omeros	0.6	-39.3%	-49.1%
JBIO	Jade Biosciences	0.9	-38.8%	-0.6%
PLAB	Photronics	1.8	-38.7%	-0.7%

Peer Comparisons

Peers to compare with:

Financials

	DHC	WELL	VTR	OHI	NHI	HR	Median
Name	Diversif.	Welltower	Ventas	Omega He.	National.	Healthca.
Mkt Price	9.03	214.23	84.60	45.77	72.10	20.70	58.94
Mkt Cap	2.2	149.9	40.3	13.6	3.5	7.2	10.4
Rev LTM	1,517	11,584	6,133	1,236	401	1,132	1,377
Op Inc LTM	-25	535	868	795	195	108	365
FCF LTM	-8	2,922	1,047	912	244	140	578
FCF 3Y Avg	35	2,298	775	783	215	210	495
CFO LTM	-8	2,953	1,720	912	244	462	687
CFO 3Y Avg	35	2,345	1,416	783	217	481	632

Growth & Margins

	DHC	WELL	VTR	OHI	NHI	HR	Median
Name	Diversif.	Welltower	Ventas	Omega He.	National.	Healthca.
Rev Chg LTM	0.4%	37.7%	20.7%	14.0%	17.1%	-7.3%	15.5%
Rev Chg 3Y Avg	4.8%	25.3%	13.7%	13.4%	11.6%	1.5%	12.5%
Rev Chg Q	-5.3%	38.4%	22.0%	16.7%	28.9%	-6.7%	19.3%
QoQ Delta Rev Chg LTM	-1.3%	8.6%	5.1%	3.9%	6.9%	-1.7%	4.5%
Op Inc Chg LTM	41.3%	-55.8%	21.1%	16.6%	2.1%	149.5%	18.9%
Op Inc Chg 3Y Avg	29.4%	-0.9%	25.2%	30.1%	12.4%	34.2%	27.3%
Op Mgn LTM	-1.7%	4.6%	14.2%	64.3%	48.6%	9.5%	11.8%
Op Mgn 3Y Avg	-3.3%	11.5%	12.5%	59.7%	53.3%	5.8%	12.0%
QoQ Delta Op Mgn LTM	0.2%	1.3%	-0.5%	1.8%	-2.2%	1.3%	0.8%
CFO/Rev LTM	-0.5%	25.5%	28.0%	73.8%	60.7%	40.8%	34.4%
CFO/Rev 3Y Avg	2.4%	26.3%	26.7%	71.1%	61.3%	39.3%	33.0%
FCF/Rev LTM	-0.5%	25.2%	17.1%	73.8%	60.7%	12.4%	21.2%
FCF/Rev 3Y Avg	2.4%	25.7%	14.4%	71.1%	60.6%	16.9%	21.3%

Valuation

	DHC	WELL	VTR	OHI	NHI	HR	Median
Name	Diversif.	Welltower	Ventas	Omega He.	National.	Healthca.
Mkt Cap	2.2	149.9	40.3	13.6	3.5	7.2	10.4
P/S	1.4	12.9	6.6	11.0	8.7	6.4	7.6
P/Op Inc	-86.4	280.2	46.4	17.1	17.9	66.6	32.1
P/EBIT	-12.9	409.4	46.2	15.4	17.3	-902.6	16.4
P/E	-6.8	106.5	154.7	21.5	23.5	-35.7	22.5
P/CFO	-270.6	50.8	23.4	14.9	14.3	15.6	15.2
Total Yield	-14.3%	0.9%	2.9%	10.5%	9.2%	2.2%	2.5%
Dividend Yield	0.4%	0.0%	2.2%	5.8%	5.0%	5.0%	3.6%
FCF Yield 3Y Avg	6.4%	2.5%	2.7%	7.6%	6.5%	3.7%	5.0%
D/E	1.1	0.1	0.3	0.3	0.4	0.6	0.3
Net D/E	1.0	0.1	0.3	0.3	0.4	0.6	0.3

Returns

	DHC	WELL	VTR	OHI	NHI	HR	Median
Name	Diversif.	Welltower	Ventas	Omega He.	National.	Healthca.
1M Rtn	3.4%	-2.7%	-6.4%	-4.6%	-3.9%	1.6%	-3.3%
3M Rtn	24.9%	3.4%	-1.6%	-3.4%	-14.4%	16.5%	0.9%
6M Rtn	92.9%	15.5%	10.0%	7.2%	-4.5%	23.5%	12.8%
12M Rtn	164.3%	43.2%	36.4%	31.6%	5.6%	46.4%	39.8%
3Y Rtn	202.9%	178.2%	103.1%	83.7%	60.0%	30.9%	93.4%
1M Excs Rtn	3.6%	-2.5%	-6.2%	-4.5%	-3.7%	1.8%	-3.1%
3M Excs Rtn	12.8%	-8.6%	-13.7%	-15.4%	-26.4%	4.5%	-11.2%
6M Excs Rtn	75.2%	5.0%	2.3%	-1.9%	-11.8%	13.9%	3.6%
12M Excs Rtn	146.4%	21.4%	13.7%	8.2%	-17.5%	24.8%	17.5%
3Y Excs Rtn	230.6%	109.3%	26.8%	10.2%	-19.7%	-46.3%	18.5%

FDIC Bank Data

$ Mil \| FY: 12/31	LTM	2025	2024	2023	2022	2021	2020
Period End	3/31/2026	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Filing Date	5/4/2026	2/24/2026	2/25/2025	2/26/2024	3/1/2023	2/24/2022	2/25/2021
Key Financials
Total Revenue	1,517	1,538	1,495	1,410	1,284	1,383	1,632
Net Income	-320	-286	-370	-294	-16	175	-139
EPS	-1.33	-1.19	-1.55	-1.23	-0.07	0.73	-0.59
Growth Rates
Total Revenue Growth	0.4%	2.8%	6.0%	9.9%	-7.2%	-15.2%	56.9%
Net Income Growth	-9.3%	22.8%	-26.1%	-1761.1%	-109.0%	225.1%	-58.0%
Margins
Net Income Margin	-21.1%	-18.6%	-24.8%	-20.8%	-1.2%	12.6%	-8.5%
Cash & Debt
Total Cash	122	105	145	246	658	635	74
Total Debt	2,402	2,401	2,911	2,817	3,048	3,677	3,567
Net Debt / (Cash)	2,280	2,295	2,766	2,571	2,390	3,042	3,492
Cash Flows & CapEx
Net Cash from Operations	-8	-20	112	10	-40	-63	159
Total CapEx	0	0	0	0	0	0	0
Free Cash from Operations	-8	-20	112	10	-40	-63	159
Returns to Shareholders
Dividends	10	10	10	10	10	10	43
Share Repurchases	1	1	1	0	0	0	0

$ Mil \| FY: 12/31	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2
Period End	3/31/2026	12/31/2025	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023
Filing Date	5/4/2026	2/24/2026	11/3/2025	8/4/2025	5/5/2025	2/25/2025	11/4/2024	8/1/2024	5/6/2024	2/26/2024	11/1/2023	8/1/2023
Key Financials Quarterly
Total Revenue	366	380	389	383	387	380	374	371	371	362	357	346
Net Income	-43	-21	-164	-92	-9	-87	-99	-98	-86	-103	-66	-73
EPS	-0.18	-0.09	-0.68	-0.38	-0.04	-0.37	-0.41	-0.41	-0.36	-0.43	-0.28	-0.30
Key Financials TTM
Total Revenue TTM	1,517	1,538	1,538	1,523	1,512	1,495	1,477	1,460	1,435	1,410	1,386	1,352
Net Income TTM	-320	-286	-352	-287	-293	-370	-385	-352	-327	-294	-256	-272
Growth Rates Quarterly
Total Revenue Growth	-5.3%	-0.0%	4.0%	3.0%	4.3%	5.0%	4.8%	7.3%	7.2%	7.3%	10.4%	10.6%
Net Income Growth	-381.6%	75.7%	-66.2%	6.4%	89.6%	14.7%	-50.0%	-34.8%	-63.8%	-57.0%	19.3%	33.7%
Margins Quarterly
Net Income Margin	-11.8%	-5.6%	-42.2%	-23.9%	-2.3%	-23.0%	-26.4%	-26.3%	-23.3%	-28.4%	-18.5%	-21.0%
Cash & Debt
Total Cash	122	105	201	142	303	145	257	266	207	246	278	338
Total Debt	2,402	2,401	2,723	2,637	2,800	2,911	2,945	2,920	2,838	2,817	2,785	2,785
Net Debt / (Cash)	2,280	2,295	2,522	2,495	2,498	2,766	2,689	2,654	2,631	2,571	2,507	2,446
Cash Flows Quarterly
FCF from Operations	8	-20	-49	53	-3	18	21	44	29	-7	-14	26
Cash Flows TTM
FCF from Operations TTM	-8	-20	19	89	80	112	87	52	33	10	14	23
Returns to Shareholders Quarterly
Dividends	2	2	2	2	2	2	2	2	2	2	2	2
Share Repurchases	0	0	1	0	0	0	1	0	0	0	0	0
Return on Invested Capital (ROIC) Quarterly
ROIC	-0.1%	-0.1%	-0.8%	-0.4%	-0.3%	-0.6%	-1.0%	-0.4%	-0.8%	-1.8%	-0.9%	-0.9%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-0.4%	-0.4%	-0.5%	-0.6%	-0.6%	-0.7%	-1.0%	-1.0%	-1.1%	-1.0%	-0.8%	-1.1%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Senior housing operating portfolio (SHOP)	1,313	1,244	1,152	1,023	975
Medical Office and Life Science Portfolio	194	213	221	222	368
Other revenue	31	38	38	38	41
Total	1,538	1,495	1,410	1,284	1,383

Operating Income by Segment

$ Mil	2017	2016	2015	2014	2013
Triple Net Leased Senior Living Communities	199	190
MOBs	140	135	134	111	85
Managed Senior Living Communities	31	15
All Other	-95	-37	-35	-29	-24
managed senior living communities			29	41	39
triple net senior living communities			185	169	164
Total	275	303	314	291	265

Net Income by Segment

$ Mil	2024	2023	2022	2021	2020
Medical Office and Life Science Portfolio	-67	-12	378	576	89
Senior housing operating portfolio (SHOP)	-90	-100	-140	-104	-115
Other revenue		-182	-254	-297	-113
Total	-156	-294	-16	175	-139

Assets by Segment

$ Mil	2025	2024	2023	2022	2021
Senior housing operating portfolio (SHOP)	2,867	3,084	3,135	3,148	2,996
Medical Office and Life Science Portfolio	1,193	1,688	1,866	1,967	2,283
All Other	301	365
Other revenue			445	887	1,345
Total	4,361	5,137	5,446	6,002	6,624

Price Behavior

Price Behavior

Market Price	$9.03
Market Cap ($ Bil)	2.2
First Trading Date	02/23/2000
Distance from 52W High	-1.1%
	50 Days	200 Days
DMA Price	$8.02	$5.93
DMA Trend	up	up
Distance from DMA	12.6%	52.3%
	3M	1YR
Volatility	41.0%	41.0%
Downside Capture	73.76	12.84
Upside Capture	121.45	124.60
Correlation (SPY)	33.3%	22.7%

DHC Betas & Captures as of 5/31/2026

	1M	2M	3M	6M	1Y	3Y
Beta	2.59	1.55	1.37	0.85	0.83	1.10
Up Beta	4.61	1.42	0.37	0.85	1.24	0.86
Down Beta	2.92	1.80	1.65	1.07	0.53	0.80
Up Capture	192%	162%	201%	146%	152%	597%
Bmk +ve Days	13	28	36	67	141	432
Stock +ve Days	8	21	33	65	130	367
Down Capture	173%	165%	155%	11%	25%	105%
Bmk -ve Days	7	13	27	57	109	318
Stock -ve Days	10	18	28	54	105	348

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with DHC
DHC	170.9%	40.9%	2.53	-
Sector ETF (XLRE)	11.8%	13.8%	0.57	39.9%
Equity (SPY)	24.9%	12.3%	1.52	22.4%
Gold (GLD)	25.5%	27.4%	0.81	10.0%
Commodities (DBC)	30.1%	19.0%	1.25	-9.2%
Real Estate (VNQ)	13.5%	13.5%	0.69	45.5%
Bitcoin (BTCUSD)	-41.8%	42.2%	-1.16	10.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with DHC
DHC	21.3%	69.0%	0.55	-
Sector ETF (XLRE)	3.5%	19.1%	0.09	40.0%
Equity (SPY)	13.5%	17.1%	0.61	31.2%
Gold (GLD)	16.8%	18.2%	0.75	9.2%
Commodities (DBC)	8.4%	19.4%	0.33	6.0%
Real Estate (VNQ)	2.8%	18.8%	0.05	43.4%
Bitcoin (BTCUSD)	13.6%	54.4%	0.44	11.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with DHC
DHC	-3.0%	64.0%	0.22	-
Sector ETF (XLRE)	7.1%	20.4%	0.30	49.7%
Equity (SPY)	15.3%	17.9%	0.73	39.1%
Gold (GLD)	12.5%	16.1%	0.64	6.8%
Commodities (DBC)	6.7%	18.0%	0.29	14.3%
Real Estate (VNQ)	5.7%	20.7%	0.24	54.5%
Bitcoin (BTCUSD)	60.2%	66.8%	1.00	11.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	5292026
Short Interest: Shares Quantity	8.6 Mil
Short Interest: % Change Since 5152026	-7.8%
Average Daily Volume	1.8 Mil
Days-to-Cover Short Interest	4.8 days
Basic Shares Quantity	240.7 Mil
Short % of Basic Shares	3.6%

Returns Analyses

	Title
0	Can Diversified Healthcare Trust Stock Hold Up When Markets Turn?

Earnings Returns History

Updated 6/12/2026

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
5/4/2026	5.3%	8.5%	10.1%
2/23/2026	-0.8%	17.7%	9.1%
11/3/2025	-4.9%	1.8%	8.1%
8/4/2025	0.6%	-1.2%	9.7%
5/5/2025	31.2%	37.2%	47.7%
2/25/2025	8.6%	7.3%	-0.8%
11/4/2024	-19.6%	-23.0%	-27.0%
8/1/2024	-1.2%	-5.5%	5.8%
...
SUMMARY STATS
# Positive	12	12	12
# Negative	12	12	12
Median Positive	5.0%	7.9%	20.7%
Median Negative	-4.2%	-6.2%	-9.0%
Max Positive	59.1%	103.2%	167.7%
Max Negative	-19.6%	-23.0%	-32.2%

	Forward Returns
5/4/2026	5.3%	8.5%	10.1%
2/23/2026	-0.8%	17.7%	9.1%
11/3/2025	-4.9%	1.8%	8.1%
8/4/2025	0.6%	-1.2%	9.7%
5/5/2025	31.2%	37.2%	47.7%
2/25/2025	8.6%	7.3%	-0.8%
11/4/2024	-19.6%	-23.0%	-27.0%
8/1/2024	-1.2%	-5.5%	5.8%
5/6/2024	-9.8%	-6.6%	16.4%
2/26/2024	7.0%	3.0%	-21.7%
11/1/2023	4.7%	-3.3%	25.0%
8/1/2023	10.4%	53.8%	40.6%
5/8/2023	2.2%	0.9%	167.7%
3/1/2023	59.1%	103.2%	46.2%
11/2/2022	-12.6%	-13.3%	-26.3%
8/3/2022	0.0%	5.7%	-17.8%
5/3/2022	3.6%	-7.6%	-4.9%
2/23/2022	-1.0%	-5.7%	-2.0%
11/3/2021	-13.5%	-10.4%	-32.2%
8/4/2021	4.3%	3.2%	-0.3%
5/5/2021	-4.7%	-13.9%	-11.7%
2/24/2021	-3.7%	-4.8%	-1.0%
11/5/2020	-2.5%	18.2%	49.5%
8/6/2020	-0.5%	-0.5%	-6.2%
SUMMARY STATS
# Positive	12	12	12
# Negative	12	12	12
Median Positive	5.0%	7.9%	20.7%
Median Negative	-4.2%	-6.2%	-9.0%
Max Positive	59.1%	103.2%	167.7%
Max Negative	-19.6%	-23.0%	-32.2%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
03/31/2026	05/04/2026	10-Q
12/31/2025	02/24/2026	10-K
09/30/2025	11/03/2025	10-Q
06/30/2025	08/04/2025	10-Q
03/31/2025	05/05/2025	10-Q
12/31/2024	02/25/2025	10-K
09/30/2024	11/04/2024	10-Q
06/30/2024	08/01/2024	10-Q
03/31/2024	05/06/2024	10-Q
12/31/2023	02/26/2024	10-K
09/30/2023	11/01/2023	10-Q
06/30/2023	08/01/2023	10-Q
03/31/2023	05/08/2023	10-Q
12/31/2022	03/01/2023	10-K
09/30/2022	11/02/2022	10-Q
06/30/2022	08/03/2022	10-Q

Recent Forward Guidance

Updated 5/31/2026

Latest: Q1 2026 Earnings Reported 5/4/2026

null

Prior: Q4 2025 Earnings Reported 2/23/2026

null

Insider Activity

Updated 4/26/2026

Expand for More

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Bilotto, Christopher J	President and CEO	Direct	Buy	12162025	4.89	20,000	97,720	1,301,068	Form

DHC Trade Sentinel

Stock Conviction

null

CONVICTION RATIONALE

null

STOCK ARCHETYPE

null

Looking for high-conviction positions with a better risk/reward profile? See what's currently in the Trefis High Quality Portfolio.

INVESTMENT THESIS

null

Mechanism: null

Supporting Evidence:

PRIMARY RISK

null

Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Threshold	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

Diversification Alternatives

How Is The Market Pricing DHC?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What DHC Makes & Who Pays

TTM figures based on

DHC Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

Industry Resources

Real Estate Resources

The Real Deal

Commercial Observer

Inman

Health Care REITs Resources

Healthcare Real Estate Insights

Seniors Housing Business

RevistaMed

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

Core Cache Last Updated: 6/12/2026

Diversified Healthcare Trust (DHC)

Market Price (6/13/2026): $9.035 | Market Cap: $2.2 BilSector: Real Estate | Industry: Health Care REITs

Diversified Healthcare Trust (DHC)

Market Price (6/13/2026): $9.035Market Cap: $2.2 BilSector: Real EstateIndustry: Health Care REITs

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

About Diversified Healthcare Trust (DHC)

Key Risks to Diversified Healthcare Trust (DHC)

1. High Leverage and Refinancing Risk

2. Senior Housing Operating Portfolio (SHOP) Performance and Operational Risks

3. Market and Industry Volatility and Competition

Interactive Breakdown

Better Bets vs. Diversified Healthcare Trust (DHC)

INDUSTRY: Health Care REITs

Higher Rev Chg 3Y Avg | Lower P/S (Values for DHC: 4.8% | 1.4x)

Higher Rev Chg LTM (Value for DHC: 0.4%)

Higher Rev Chg 3Y Avg (Value for DHC: 4.8%)

Higher Op Mgn LTM (Value for DHC: -1.7%)

Higher CFO/Rev LTM (Value for DHC: -0.5%)

Higher FCF/Rev LTM (Value for DHC: -0.5%)

Higher Total Yield (Value for DHC: -14.3%)

SECTOR: Real Estate

Higher Rev Chg 3Y Avg | Lower P/S (Values for DHC: 4.8% | 1.4x)

Higher Rev Chg LTM (Value for DHC: 0.4%)

Higher Rev Chg 3Y Avg (Value for DHC: 4.8%)

Higher Op Mgn LTM (Value for DHC: -1.7%)

Higher CFO/Rev LTM (Value for DHC: -0.5%)

Higher FCF/Rev LTM (Value for DHC: -0.5%)

Higher Total Yield (Value for DHC: -14.3%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for DHC: 4.8% | 1.4x)

Higher Rev Chg LTM (Value for DHC: 0.4%)

Higher Rev Chg 3Y Avg (Value for DHC: 4.8%)

Higher Op Mgn LTM (Value for DHC: -1.7%)

Higher CFO/Rev LTM (Value for DHC: -0.5%)

Higher FCF/Rev LTM (Value for DHC: -0.5%)

Higher Total Yield (Value for DHC: -14.3%)

Best Bets in Real Estate

P/EBIT (Value for DHC: -12.9x)

P/E (Value for DHC: -6.8x)

Rev Chg 3Y Avg (Value for DHC: 4.8%)

Rev Chg LTM (Value for DHC: 0.4%)

Rev Chg Q (Value for DHC: -5.3%)

FCF/Rev 3Y Avg (Value for DHC: 2.4%)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

Top Gainers

Top Losers

Top Gainers

Top Losers

Top Gainers

Top Losers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons

Financials

Market Price (6/13/2026): $9.035
Market Cap: $2.2 Bil
Sector: Real Estate
Industry: Health Care REITs