Diversified Healthcare Trust (DHC)
Owns senior housing, medical offices, and life science real estate across the United States.
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Owns senior living communities, medical offices, and life science properties across the United States. Resident fees from third-party-operated communities provide most revenue, while healthcare and biotech tenants pay rent; The RMR Group externally manages the trust.
Owns healthcare real estate across the United States, with a Senior Housing Operating Portfolio alongside medical office and life science properties. The senior living communities span independent living, assisted living, memory care, and skilled nursing; regional operators run them under management agreements, while resident fees and services generate most revenue. Medical providers, clinics, biotechnology laboratories, and related businesses lease the office and research space under a mix of net and full-service leases.
Combines a geographically broad property base with specialized regional managers, allowing pricing, staffing, sales, and resident care to be handled locally. REIT rules generally prevent direct operation of senior living communities, so taxable subsidiaries contract with third-party managers. Business and much of property management are provided under long-term agreements with The RMR Group.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jun 18, 2026 | RBC Capital | Reiterate | Rating: —Target: — | Target: $8 |
| Jun 3, 2026 | Maxim Group | Reiterate | Rating: —Target: $10 | Target: $10.50 |
| May 6, 2026 | Maxim Group | Target | Target: $9.50 | Target: $10 |
| Apr 27, 2026 | Maxim Group | Target | Target: — | Target: $9.50 |
| Nov 13, 2025 | RBC Capital | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $116.8M · Total debt $2.42B · Total assets $4.24B · Shareholders' equity $1.58B
- Revenue
- $365.4M
- Operating income
- −$518.0K
- Net income
- −$37.4M
HistoryDividendAnnual yield
| Institutions | ≈ 86.74% | 210.02M shares | |
|---|---|---|---|
| 250 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 0.05% | 114.0K shares | |
| 1 holder · as of Sep 18, 2025 | |||
| Other | ≈ 13.21% | 32.00M shares | |
| remainder | |||
242.13M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Flat Footed LLCInstitution | 9.70% | 23.49M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 9.53% | 23.08M | as of Jun 30, 2026 |
Silver Point Capital L.P.Institution | 6.40% | 15.50M | as of Jun 30, 2026 |
H/2 Credit Manager LPInstitution | 5.29% | 12.82M | as of Jun 30, 2026 |
Security Capital Research & Management IncorportatedInstitution | 4.68% | 11.33M | filed Feb 9, 2018 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- Welltower
Largest US senior-housing REIT, dominant SHOP peer with vastly greater scale.
- Ventas
Closest segment-for-segment peer: SHOP + MOB + research at much greater scale.
- Healthpeak Properties
Largest pure-play outpatient medical + life-science REIT; head-to-head on MOB.
- Healthcare Realty
Largest pure-play US medical outpatient REIT; head-to-head on MOB.
- Alexandria Real Estate Equities
Premier US life-science REIT; direct overlap on DHC's life-science campuses.
- Sabra Health Care REIT
Self-managed REIT shifting from NNN to SHOP — overlap on DHC's top segment.
- Omega Healthcare Investors
Largest US SNF-focused triple-net REIT growing into senior housing via RIDEA.
- CareTrust REIT
Triple-net REIT in SNF and senior housing, expanding into DHC's NNN space.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Diversified Healthcare Trust | $7.98 | −2.32% | $1.98B | — | — | 1.3 | −4.5% |
| Welltower | $229.76 | −0.27% | $165.95B | 121.9 | 82.9 | 13.2 | +39.1% |
| Ventas | $86.31 | −0.63% | $42.23B | 160.9 | 119.5 | 6.6 | +21.7% |
| Healthpeak Properties | $20.77 | +0.80% | $14.20B | 58.9 | 104.9 | 4.8 | +10.5% |
| Healthcare Realty | $18.08 | −0.58% | $6.38B | — | 314.2 | 5.6 | −1.8% |
| Alexandria Real Estate Equities | $53.52 | −0.62% | $9.38B | — | — | 3.2 | −12.8% |
| Sabra Health Care REIT | $19.72 | −0.48% | $5.00B | 75.5 | 27.2 | 5.8 | +24.7% |
| Omega Healthcare Investors | $46.40 | −0.15% | $13.90B | 16.6 | 23.9 | 10.8 | +11.5% |
| CareTrust REIT | $37.11 | −0.87% | $8.84B | 23.2 | 22.9 | 16.3 | +37.4% |
| Median | 67.2 | 82.9 | 6.2 | +16.6% |