Symbol: DHC
CIK: 1075415
Exchange: NASDAQ
HQ: Newton, MA, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Small-Cap
REIT Sector: Health Care
Externally Managed REIT
REITRating™ Score: 5.8
See DHC on Yahoo Finance
See DHC on SEC.gov
Diversified Healthcare Trust (Nasdaq: DHC) is a real estate investment trust (REIT) that owns approximately $7.1 billion of high-quality healthcare properties located in 36 states and Washington, D.C. DHC seeks diversification across the health services spectrum: by care delivery and practice type, by scientific research disciplines and by property type and location. DHC’s life science and medical office portfolio includes over 100 properties totaling approximately nine million square feet and is occupied by almost 500 tenants. DHC’s senior living portfolio contains more than 27,000 senior living units.
*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes. This graph does not include extraordinary dividend.
Below are the FFO amounts, dividends, and payout ratios for the last two quarters for DHC. Compare FFO to other REITs at REITFFO.
| Year | Quarter | Type | Amount | Dividend Paid | Payout Ratio |
|---|---|---|---|---|---|
| 2025 | Q3 | FFO | $0.04 | $0.01 | 25.00% |
| 2025 | Q3 | Normalized AFFO | $0.04 | $0.01 | 25.00% |
| 2025 | Q2 | FFO | $0.08 | $0.01 | 12.50% |
| 2025 | Q2 | Normalized AFFO | $0.08 | $0.01 | 12.50% |
REITNotes uses the REIT's Funds From Operation (FFO) per diluted share informed in the REIT’s Quarterly Earning Reports and its announced dividend per diluted share. For some REITs, we also display the Adjusted Funds From Operations (AFFO), Core FFO, Normalized FFO (NFFO), Modified FFO (MFFO), Operating FFO as provided by the REIT. REITNotes™ calculates the payout ratio by dividing the dividend value paid during the current quarter by the FFO declared in the previous Quarter. E.g., we divide the dividend value paid in Q3 by the FFO reported in Q2. This is because although paid in Q3, the dividend value is usually declared during the previous quarter. FFO is a non-GAAP measure recognized by the SEC and provided by the REITs as a supplemental measure of their operating performance. FFO is not meant to be an indicator of the REIT’s capacity to pay current or future dividends nor to be a substitute to the REIT's cash flow from operations. It is recommended to check the REIT's website, Earning Reports and dividend announcements for the latest and updated information. The “Payout Ratio” is calculated by dividing the “Dividends Paid” column by the “FFO Amount” column. Some REITs may have two types of FFO (eg. FFO and Modified FFO) while others may have just one type of FFO.
REITNotes' Dividend to FFO Payout Ratio graph is based on the REIT's Funds From Operation (FFO) per diluted share informed in the REIT’s Quarterly Earning Reports and its announced dividend per diluted share. For some REITs, we also display the Adjusted Funds From Operations (AFFO), Core FFO, Normalized FFO (NFFO), Modified FFO (MFFO), Operating FFO as provided by the REIT. REITNotes™ calculates the payout ratio by dividing the dividend value paid during the current quarter by the FFO declared in the previous Quarter. E.g., we divide the dividend value paid in Q3 by the FFO reported in Q2. This is because although paid in Q3, the dividend value is usually declared during the previous quarter. FFO is a non-GAAP measure recognized by the SEC and provided by the REITs as a supplemental measure of their operating performance. FFO is not meant to be an indicator of the REIT’s capacity to pay current or future dividends nor to be a substitute to the REIT's cash flow from operations. It is recommended to check the REIT's website, Earning Reports and dividend announcements for the latest and updated information.
REITNotes' Price to FFO (P/FFO) Multiples graph is calculated by dividing the REIT’s closing stock price for the day by the Trailing Twelve Month (TTM) Funds from Operations (FFO). For some REITs we also display the Price-to-Adjusted Funds From Operations (P/AFFO), Price-to-Core FFO (P/CFFO), Price-to-Normalized FFO (P/NFFO), Price-to-Modified FFO (P/MFFO), Price-to-Operating (P/FFO), depending on the data provided in the REIT’s Quarterly Earning Reports.
As you may be familiar with, the price-to-earnings ratio (P/E ratio) is a useful tool for investors to gauge the market's valuation of a company’s stock price. The price-to-FFO ratio (or multiple) is a comparable measure used in the REIT industry that compares the REIT’s stock price to its FFO per share instead of its earnings per share (EPS).
Sample of REIT’s Properties. Image Source - REIT’s website
Below is a simulation of how much money you would have made in dividends, and how much the shares would be worth had you purchased them 1 year ago for the amounts below.
| With $1,000 USD | With $500 USD | With $250 USD | With $100 USD | With $50 USD | |
|---|---|---|---|---|---|
| Initial investment | @ $2.46 per share you would have been able to buy 406 shares of DHC on 2025-03-24 costing $998.76 | @ $2.46 per share you would have been able to buy 203 shares of DHC on 2025-03-24 costing $499.38 | @ $2.46 per share you would have been able to buy 101 shares of DHC on 2025-03-24 costing $248.46 | @ $2.46 per share you would have been able to buy 40 shares of DHC on 2025-03-24 costing $98.40 | @ $2.46 per share you would have been able to buy 20 shares of DHC on 2025-03-24 costing $49.20 |
| Current worth | On 2026-03-23 these 406 shares would be worth $2,720.20 @ $6.70 | On 2026-03-23 these 203 shares would be worth $1,360.10 @ $6.70 | On 2026-03-23 these 101 shares would be worth $676.70 @ $6.70 | On 2026-03-23 these 40 shares would be worth $268.00 @ $6.70 | On 2026-03-23 these 20 shares would be worth $134.00 @ $6.70 |
| Dividends earned | $16.24 in dividends would have been earned since 2025-03-24 with 406 shares. | $8 in dividends would have been earned since 2025-03-24 with 203 shares. | $4.04 in dividends would have been earned since 2025-03-24 with 101 shares. | $1.60 in dividends would have been earned since 2025-03-24 with 40 shares. | $0.80 in dividends would have been earned since 2025-03-24 with 203 shares. |
| Net (gain / loss)* | 1,737.68 USD | 868.84 USD | 432.28 USD | 171.20 USD | 85.60 USD |
| ROI** | 173.98% | 173.98% | 173.98% | 173.98% | 173.98% |
*Net (Gains/Loss): Includes the stock price (appreciate or depreciate ) + dividends earned during period held. Stock prices based on closing price for the date. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Note: Past performance is no guarantee of future results. This is a high-level simulation and does not account for many factors such as inflation and taxes so we cannot guarantee the accuracy of this simulation.
Below are the most recent cash dividends paid by DHC. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.
| Symbol | Ex Date | Cash Amount | Change in Dividend | Declaration Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| DHC | 2026-01-26 | 0.010 | --- | 2026-01-15 | 2026-01-26 | 2026-02-19 |
| DHC | 2025-10-27 | 0.010 | --- | 2025-10-09 | 2025-10-27 | 2025-11-13 |
| DHC | 2025-07-21 | 0.010 | --- | 2025-07-10 | 2025-07-21 | 2025-08-14 |
| DHC | 2025-04-22 | 0.010 | --- | 2025-04-10 | 2025-04-22 | 2025-05-15 |
| DHC | 2025-01-27 | 0.010 | --- | 2025-01-16 | 2025-01-27 | 2025-02-20 |
| DHC | 2024-10-28 | 0.010 | --- | 2024-10-16 | 2024-10-28 | 2024-11-14 |
| DHC | 2024-07-22 | 0.010 | --- | 2024-07-11 | 2024-07-22 | 2024-08-15 |
| DHC | 2024-04-19 | 0.010 | --- | 2024-04-11 | 2024-04-22 | 2024-05-16 |
| DHC | 2024-01-19 | 0.010 | --- | 2024-01-11 | 2024-01-22 | 2024-02-15 |
| DHC | 2023-10-20 | 0.010 | --- | 2023-10-12 | 2023-10-23 | 2023-11-16 |
| DHC | 2023-07-21 | 0.010 | --- | 2023-07-13 | 2023-07-24 | 2023-08-17 |
| DHC | 2023-04-21 | 0.010 | --- | 2023-04-13 | 2023-04-24 | 2023-05-18 |