DIVERSIFIED HEALTHCARE TRUST (DHC)

What DIVERSIFIED HEALTHCARE TRUST does

Diversified Healthcare Trust is a REIT that owns and operates senior living communities (independent living, assisted living, memory care, and skilled nursing facilities) as well as medical office and life science properties across the United States. As of December 31, 2025, the company owned 298 properties in 33 states and Washington, D.C., with an additional equity interest in two unconsolidated joint ventures owning medical office and life science properties. The company generates revenue through rental income from properties and residents' fees and services at senior living communities.

Fundamentals

• Price$9.06 as of 2026-07-09 close
• Market cap$2.2B as of 2026-07-10
• 1-year return+147.5% as of 2026-07-09 close
• Net margin-21.1% as of 2026-07-10
• Gross margin+18.6% as of 2026-07-10
• ROE-18.8% as of 2026-07-10
• Debt / equity1.48 as of 2026-07-10
• Revenue growth (YoY)+0.4% as of 2026-07-10
• Revenue CAGR (3y)+6.2% SEC XBRL
• Beta2.28 as of 2026-07-10

Dividend: yield +0.4%; 5-year non-decreasing per-share dividend streak (SEC XBRL).

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Key risks (from latest filing)

["Senior living operator financial distress and tenant defaults, as evidenced by ongoing portfolio losses and impairments affecting cash flows and asset values","High leverage and debt refinancing risk with $2.4 billion in total debt against $4.3 billion in total assets, constraining financial flexibility","Persistent negative operating margins (-21.1% net margin) and unprofitability despite demographic tailwinds, indicating structural operational challenges"]

See DHC's biggest risks from its latest 10-Q →

Competitors & peers

• Welltower (WELL)
• Ventas (VTR)
• LTC Properties (LTC)
• Medical Properties Trust (MPW)
• Healthcare Trust, Inc. (PEAK)

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