# Diversified Healthcare Trust (DHC)

> Source: Nexqual · https://nexqual.com/DHC · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Diversified Healthcare Trust (DHC), nexqual.com/DHC" · informational, not investment advice.

**Price:** USD 7.87 (+2.34% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 7.69 · day 7.65–7.91 · 52w 3.92–9.66 · market cap $1.91B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.50B, net income -$266M (-17.7% margin), free cash flow -$155M (SEC filings).
- Analysts: Buy (mean 2.20 on a 1–5 scale) (5 analysts), mean target USD 10.15 (range 8–11.5).
- Total return with dividends: 1Y +84.5% vs S&P 500 +14.9%; 5Y +130.6% vs S&P 500 +80.3%.
- Next earnings: 2026-11-02, EPS estimate USD -0.13, revenue estimate $369M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.38B | $1.28B | $1.41B | $1.50B | $1.54B | $1.50B |
| Net income | $175M | -$15.8M | -$294M | -$370M | -$286M | -$266M |
| EPS (diluted) | $0.73 | -$0.07 | -$1.23 | -$1.55 | -$1.19 | — |
| Free cash flow | -$291M | -$340M | -$225M | -$89.5M | -$166M | -$155M |
| Net margin | 12.6% | -1.2% | -20.8% | -24.8% | -18.6% | -17.7% |
| Revenue growth | -15.2% | -7.2% | +9.9% | +6.0% | +2.8% | — |
| Cash + short-term investments | $635M | $658M | $246M | $145M | $105M | — |
| Total debt | — | — | — | $3.05B | $2.44B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 1.3x · EV/Sales 2.8x · P/B 1.2x · FCF yield -8.13% · Earnings yield -13.96% · Dividend yield (paid, TTM) 0.51% · Buyback yield (TTM) 0.06% · Net debt $2.33B · EV $4.23B

## Analysts
Consensus Buy (mean 2.20 on a 1–5 scale), 5 analysts; mean target USD 10.15 (low 8, high 11.5).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +84.5% | +130.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +84.9% | +18.1% |
| Volatility (annualized) | 38.2% | 71.6% |
| Max drawdown | -23.4% (Jul 2026→Oct 2026) | -82.2% (Oct 2021→Dec 2022) |

## Peers (REIT - Healthcare Facilities)
MPT (Medical Properties Trust, Inc.) USD 2.71 +3.04% · LTC (LTC Properties, Inc.) USD 43.33 +2.70% · NHI (National Health Investors, Inc.) USD 66.96 +3.14% · SBRA (Sabra Health Care REIT, Inc.) USD 19.6 +3.70% · HR (Healthcare Realty Trust Incorpo) USD 17.93 +4.00% · UHT (Universal Health Realty Income ) USD 37.81 +2.41%

## More
Full page: https://nexqual.com/DHC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in DHC's own 10-K filed 2026-02-24 (https://www.sec.gov/Archives/edgar/data/1075415/000107541526000013/dhc-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | The RMR Group | "In addition, RMR provides management services to joint ventures, including our existing joint ventures." |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| SHOP | $317.9M | 87.0% | -2.9% |
| Medical Office and Life Science Portfolio | $40.1M | 11.0% | -16.5% |
| Total revenue | $365.4M | 100% | — |
The lines above cover 98% of total revenue.

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Residents fees and services | $317.9M | 87.0% | -2.9% |
| Rental income | $47.5M | 13.0% | -14.0% |
| Total revenue | $365.4M | 100% | — |

## Company outlook (8-K filed 2026-08-03)

- "Newton, MA (August 3, 2026): Diversified Healthcare Trust (Nasdaq: DHC) today announced its financial results for the quarter ended June 30, 2026, and provided updated full year 2026 financial guidance, which can be found at the Quarterly Reports section of DHC's website at https://www.dhcreit.com/investors/financial-information/quarterly/default.aspx."
- "The updated full year 2026 financial guidance is consistent with DHC's news release issued on June 1, 2026."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.13 | $-0.16 | -18.8% | $368.7M | 1 |
| Next quarter (ends 2026-12-31) | $-0.13 | $-0.15 | -13.3% | $373.2M | 1 |
| Current fiscal year (ends 2026-12-31) | $-0.63 | $-0.59 | +7.4% | $1.47B | 3 |
| Next fiscal year (ends 2027-12-31) | $-0.43 | $-0.47 | -6.5% | $1.56B | 2 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-02): ±12.7%; last 8 reports averaged ±6.6%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 63.7% | ±12.7% |
| 2026-12-18 | 56 | 39.2% | ±10.3% |
| 2027-03-19 | 147 | 46.7% | ±27.6% |