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Companies / Real Estate / Diversified Healthcare Trust
DHC

Diversified Healthcare Trust

Ticker DHCNEWTON, MAFiscal year ends DecemberBook value per share $6.35Diluted shares 240.8M

Diversified Healthcare Trust (Nasdaq: DHC) is a real estate investment trust that primarily owns senior living communities, medical office and life science properties, and other healthcare-related real estate across the United States. Its senior living portfolio includes independent living, assisted living, memory… From the company’s description.

Over the twelve months to Sep 30, 2026, Diversified Healthcare Trust reported revenue of $1.48B, down 3.8% from a year earlier, and a net loss of $152.14M. Its operating margin was −2.3%, and operations generated $54.01M in cash. In fiscal 2025, it reported revenue of $1.54B, up 2.8% from fiscal 2024, and a net loss of $285.89M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$1.54BFY2025
+2.8% year over year
Last 12 mo $1.48B
-12.84%FY2025
−4.4 percentage points
Last 12 mo -2.30%
$-285.89MFY2025
+22.8% year over year
Last 12 mo $-152.14M
-7.22%FY2025
+8.1 percentage points
Last 12 mo -8.80%
Cash & financing
$-19.62MFY2025
−117.5% year over year
Last 12 mo $54.01M
$-166.44MFY2025
−86.0% year over year
Last 12 mo $-64.65M
1.46FY2025
Was 1.49× a year earlier
Last 12 mo 1.57
240.3MFY2025
+0.3% year over year
Last 12 mo 240.8M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Diversified Healthcare Trust does

In the company’s own words

Diversified Healthcare Trust (Nasdaq: DHC) is a real estate investment trust that primarily owns senior living communities, medical office and life science properties, and other healthcare-related real estate across the United States. Its senior living portfolio includes independent living, assisted living, memory care and skilled nursing communities; third-party managers operate nearly all of these properties, while the trust leases them through taxable REIT subsidiaries. Medical office and life science properties serve physicians, healthcare providers and businesses in medical-related fields, including clinics and laboratory users, and generate rental income under a range of lease structures. The portfolio also includes wellness centers. The trust reports two segments: Senior Housing Operating Portfolio (SHOP), consisting of managed senior living communities, and Medical Office and Life Science, consisting of leased properties. As of December 31, 2025, it owned 298 properties in 33 states and Washington, D.C., and held interests in two unconsolidated joint ventures that owned medical office and life science properties. Diversified Healthcare Trust was organized in 1998 under Maryland law. Its website is www.dhcreit.com.

Company details
Sector
Real Estate
Industry (SIC)
REITs
Headquarters
NEWTON, MA
Fiscal year end
December
CIK
1075415
SIC
6798

Financial performance, year by year

Fiscal 2011–2025 · USD
$-570.48M$30.20M$630.89M$1.23B$1.83B201120122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Diversified Healthcare Trust — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

193
funds hold it
0 of 35
superinvestors hold it
$503.23M
held by funds, at market
24.2%
of shares held by funds

Largest fund holders · Diversified Healthcare Trust’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.07%of fund net assets
VANGUARD REAL ESTATE INDEX FUND
VNQ · VANGUARD SPECIALIZED FUNDS
—of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.02%of fund net assets
T. Rowe Price Small-Cap Value Fund, Inc.
PRSVX · T. ROWE PRICE SMALL-CAP VALUE FUND, INC.
0.20%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Diversified Healthcare Trust and its peers compare on margins and cash generation over ten years?”
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