Diversified Healthcare Trust -
DHCNI
NASDAQ Global Select18.01
USD
-0.14
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Diversified Healthcare Trust -
DHCNI
(NASDAQ Global Select)
Recent
price
18.01
P/E
ratio
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div
yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Diversified Healthcare Trust (Nasdaq: DHC; DHCNI) is a real estate investment trust (REIT) focused on owning and operating high-quality healthcare-related properties across the United States, including medical office buildings, life science facilities, and senior living communities. The company owns approximately $6.7 billion in assets located in 34 states and Washington, D.C., comprising over 85 medical office and life science properties totaling about 6.9 million square feet occupied by roughly 420 tenants, as well as more than 26,000 senior living units in its Senior Housing Operating Portfolio (SHOP) segment where properties are managed by third-party operators. It operates through two primary segments: the Office Portfolio, which includes medical office properties leased to physicians, healthcare providers, biotech laboratories, and related businesses; and the SHOP segment, offering independent living, assisted living, memory care, and nursing services through managed communities. Founded in 1998 and headquartered in Newton, Massachusetts, Diversified Healthcare Trust is externally managed by The RMR Group, Inc. (Nasdaq: RMR), an alternative asset manager with over $40 billion in assets under management and extensive experience in healthcare real estate. The company's diversified portfolio targets healthcare providers, scientific research entities, and senior living operators, generating revenue primarily from rents, operating fees, and reimbursements. In recent strategic developments, Diversified Healthcare Trust has transitioned management agreements for 116 SHOP communities from AlerisLife Inc., in which DHC holds a 34% stake, to seven new high-quality operators including Sinceri Senior Living, Discovery Senior Living, and Tutera Senior Living, with 85 communities completed by late 2025 and the remainder expected by year-end to enhance occupancy, NOI growth, operational efficiencies, and market concentration. These transactions, stemming from a competitive bidding process involving over 300 parties, are projected to yield $25 million to $40 million in net proceeds to DHC from AlerisLife's wind-down, bolstering liquidity for debt reduction and reinvestment. Additionally, in late 2025, DHC priced $375 million of 7.25% senior secured notes due 2030 to refinance $307 million of 2026 notes and support capital recycling, while pursuing $280 million in asset sales to lower leverage amid ongoing portfolio renovations and SHOP performance improvements.
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