Why Diversified Healthcare Trust Stock Is Skyrocketing Today
Shares of Diversified Healthcare Trust (NASDAQ: DHC) were skyrocketing 54.8% higher as of 11:17 a.m. ET on Thursday. The huge gain came after the company announced its fourth-quarter results following the market close on Wednesday.
Diversified Healthcare Trust reported total revenue in the fourth quarter of $336.9 million, up slightly from revenue of $336.7 million in the prior-year period. This result came in well above the consensus estimate of $330.1 million.
The healthcare REIT posted a net loss in Q4 of $65.3 million, or $0.27 per share, compared to positive earnings of $365.6 million, or $1.54 per share, in the prior-year period. The average analysts' estimate was for a net loss in Q4 of $0.26 per share.
Source Fool.com
