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DIVERSIFIED HEALTHCARE TRUST
American real estate investment trust, incorporated in Maryland.
Price unavailable
Last updated Oct 18, 2026.
Overview
Compare with EQUITY LIFESTYLE PROPERTIES INC, Regency Centers or Starwood Real Estate Income Trust, Inc., or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Resident Fees and Services brought in 87% of the revenue DIVERSIFIED HEALTHCARE TRUST broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Resident Fees and Services | $1.2B | $1.2B | $1.3B |
| Rental Income | $220.5M | $213.3M | $193.8M |
Business segments
Senior Housing Operating Portfolio brought in 87% of the revenue DIVERSIFIED HEALTHCARE TRUST broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Senior Housing Operating Portfolio | $1.2B | $1.2B | $1.3B |
| Medical Office and Life Science Portfolio | $220.5M | $213.3M | $193.8M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs100¢$1.5B
- Income tax0¢$1.7M
Out of $1.5B in revenue.3 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenues | $1.5B | $1.5B | $1.4B |
| Property operating expenses | $1.3B | $1.2B | $1.2B |
| Depreciation and amortization | $261.9M | $285.0M | $284.1M |
| General and administrative | $45.5M | $26.5M | $26.1M |
| Acquisition and certain other transaction related costs | $10.4M | $2.5M | $10.9M |
| Impairment of assets | $165.7M | $70.7M | $18.4M |
| Total expenses | $1.7B | $1.6B | $1.5B |
| Gain (loss) on sale of properties | $117.7M | -$18.9M | $1.2M |
| Gains and losses on equity securities, net | $0 | $0 | $8.1M |
| Gain on insurance recoveries | $7.5M | $0 | $0 |
| Interest and other income | $5.8M | $8.9M | $15.5M |
| Interest expense (including net amortization of debt premiums, discounts and issuance costs of $77,942, $103,437 and $11,811, respectively) | -$204.5M | -$235.2M | -$191.8M |
| Loss on modification or early extinguishment of debt | -$42.5M | -$324.0K | -$2.5M |
| Loss before income taxes and equity in net earnings (losses) of investees | -$320.9M | -$371.4M | -$272.7M |
| Income tax expense | -$1.7M | -$467.0K | -$445.0K |
| Equity in net earnings (losses) of investees | $36.8M | $1.6M | -$20.5M |
| Net loss | -$285.9M | -$370.3M | -$293.6M |
| Equity in unrealized gains (losses) of an investee | $17.0K | -$17.0K | $0 |
| Unrealized loss on derivative | -$12.0K | $0 | $0 |
| Other comprehensive loss | $5.0K | -$17.0K | $0 |
| Comprehensive loss | -$285.9M | -$370.3M | -$293.6M |
| Weighted average common shares outstanding (basic) (in shares) | 240.3M shares | 239.5M shares | 238.8M shares |
| Weighted average common shares outstanding (diluted) (in shares) | 240.3M shares | 239.5M shares | 238.8M shares |
| Net loss - basic (in dollars per share) | -$1.19 | -$1.55 | -$1.23 |
| Net loss - diluted (in dollars per share) | -$1.19 | -$1.55 | -$1.23 |
| Interest expense (including net amortization of debt premiums, discounts and issuance costs) | $77.9M | $103.4M | $11.8M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Land | $542.4M | $606.0M | |
| Buildings and improvements | $5.4B | $5.8B | |
| Total real estate properties, gross | $5.9B | $6.4B | |
| Accumulated depreciation | -$2.1B | -$2.1B | |
| Total real estate properties, net | $3.9B | $4.3B | |
| Investments in unconsolidated joint ventures | $120.1M | $126.9M | |
| Assets of properties held for sale | $23.1M | $276.3M | |
| Cash and cash equivalents | $105.4M | $144.6M | $245.9M |
| Restricted cash | $16.4M | $5.3M | $1.0M |
| Equity method investment | $27.2M | $24.6M | |
| Acquired real estate leases and other intangible assets, net | $20.7M | $26.3M | |
| Other assets, net | $185.5M | $188.6M | |
| Total assets | $4.4B | $5.1B | $5.4B |
| Secured revolving credit facility | $0 | $0 | |
| Secured debt and finance leases, net | $455.1M | $126.6M | |
| Liabilities of properties held for sale | $3.4M | $6.0M | |
| Accrued interest | $30.7M | $23.1M | |
| Other liabilities | $238.1M | $229.2M | |
| Total liabilities | $2.7B | $3.2B | |
| Common shares of beneficial interest, $.01 par value: 300,000,000 shares authorized, 242,121,025 and 241,271,703 shares issued and outstanding, respectively | $2.4M | $2.4M | |
| Additional paid in capital | $4.6B | $4.6B | |
| Cumulative net income | $1.1B | $1.4B | |
| Cumulative other comprehensive loss | -$12.0K | -$17.0K | |
| Cumulative distributions | -$4.1B | -$4.1B | |
| Total shareholders' equity | $1.7B | $2.0B | |
| Total liabilities and shareholders' equity | $4.4B | $5.1B | |
| Common shares of beneficial interest, par value (in dollars per share) | $0.01 | $0.01 | |
| Common shares of beneficial interest, shares authorized (in shares) | 300.0M shares | 300.0M shares | |
| Common shares of beneficial interest, shares issued (in shares) | 242.1M shares | 241.3M shares | |
| Common shares of beneficial interest, shares outstanding (in shares) | 242.1M shares | 241.3M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Land | $542.4M | $606.0M | |
| Buildings and improvements | $5.4B | $5.8B | |
| Total real estate properties, gross | $5.9B | $6.4B | |
| Accumulated depreciation | -$2.1B | -$2.1B | |
| Total real estate properties, net | $3.9B | $4.3B | |
| Investments in unconsolidated joint ventures | $120.1M | $126.9M | |
| Assets of properties held for sale | $23.1M | $276.3M | |
| Cash and cash equivalents | $105.4M | $144.6M | $245.9M |
| Restricted cash | $16.4M | $5.3M | $1.0M |
| Equity method investment | $27.2M | $24.6M | |
| Acquired real estate leases and other intangible assets, net | $20.7M | $26.3M | |
| Other assets, net | $185.5M | $188.6M | |
| Total assets | $4.4B | $5.1B | $5.4B |
| Secured revolving credit facility | $0 | $0 | |
| Secured debt and finance leases, net | $455.1M | $126.6M | |
| Liabilities of properties held for sale | $3.4M | $6.0M | |
| Accrued interest | $30.7M | $23.1M | |
| Other liabilities | $238.1M | $229.2M | |
| Total liabilities | $2.7B | $3.2B | |
| Common shares of beneficial interest, $.01 par value: 300,000,000 shares authorized, 242,121,025 and 241,271,703 shares issued and outstanding, respectively | $2.4M | $2.4M | |
| Additional paid in capital | $4.6B | $4.6B | |
| Cumulative net income | $1.1B | $1.4B | |
| Cumulative other comprehensive loss | -$12.0K | -$17.0K | |
| Cumulative distributions | -$4.1B | -$4.1B | |
| Total shareholders' equity | $1.7B | $2.0B | |
| Total liabilities and shareholders' equity | $4.4B | $5.1B | |
| Common shares of beneficial interest, par value (in dollars per share) | $0.01 | $0.01 | |
| Common shares of beneficial interest, shares authorized (in shares) | 300.0M shares | 300.0M shares | |
| Common shares of beneficial interest, shares issued (in shares) | 242.1M shares | 241.3M shares | |
| Common shares of beneficial interest, shares outstanding (in shares) | 242.1M shares | 241.3M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$285.9M | -$370.3M | -$293.6M |
| Depreciation and amortization | $261.9M | $285.0M | $284.1M |
| Net amortization of debt premiums, discounts and issuance costs | $77.9M | $103.4M | $11.8M |
| Payment of accreted interest on senior secured notes | -$152.9M | $0 | $0 |
| Straight line rental income | -$962.0K | -$1.4M | $1.1M |
| Amortization of acquired real estate leases and other intangible assets, net | $113.0K | $106.0K | -$242.0K |
| Loss on modification or early extinguishment of debt | $42.5M | $324.0K | $2.5M |
| Impairment of assets | $165.7M | $70.7M | $18.4M |
| (Gain) loss on sale of properties | -$117.7M | $18.9M | -$1.2M |
| Gains on equity securities, net | $0 | $0 | -$8.1M |
| Gain on insurance recoveries | -$7.5M | $0 | $0 |
| Other non-cash adjustments, net | -$359.0K | -$1.0M | -$1.9M |
| Unconsolidated joint venture distributions | $1.0M | $1.2M | $5.1M |
| Equity in net (earnings) losses of investees | -$36.8M | -$1.6M | $20.5M |
| Deferred leasing costs, net | -$4.3M | -$3.6M | -$9.8M |
| Other assets | -$2.7M | $16.7M | $10.7M |
| Accrued interest | $7.6M | $245.0K | -$6.6M |
| Other liabilities | $32.6M | -$6.5M | -$22.1M |
| Net cash (used in) provided by operating activities | -$19.6M | $112.2M | $10.5M |
| Real estate improvements | -$146.8M | -$201.7M | -$235.0M |
| Proceeds from sale of properties, net | $589.2M | $34.2M | $18.4M |
| Proceeds from insurance recoveries | $1.3M | $1.7M | $534.0K |
| Investment in AlerisLife Inc. | $0 | -$15.5M | $0 |
| Proceeds from AlerisLife Inc. tender offer | $0 | $0 | $14.0M |
| Equity method investment distributions | $48.4M | $0 | $0 |
| Contributions to unconsolidated joint ventures | -$8.5M | -$5.7M | $0 |
| Purchase of interest rate cap | -$47.0K | $0 | $0 |
| Net cash provided by (used in) investing activities | $483.6M | -$187.0M | -$202.1M |
| Proceeds from issuance of senior secured notes, net | $369.4M | $0 | $750.0M |
| Proceeds from mortgage notes payable | $343.2M | $120.0M | $0 |
| Repayments of borrowings on credit facility | $0 | $0 | -$700.0M |
| Redemption of senior secured notes | -$750.0M | $0 | $0 |
| Redemption of senior unsecured notes | -$380.0M | -$120.0M | -$250.0M |
| Repayment of other debt | -$3.8M | -$3.2M | -$17.0M |
| Early extinguishment of debt settled in cash | -$37.7M | $0 | -$978.0K |
| Payment of debt issuance costs | -$22.2M | -$8.6M | -$21.7M |
| Repurchase of common shares | -$1.1M | -$904.0K | -$393.0K |
| Distributions to shareholders | -$9.7M | -$9.6M | -$9.6M |
| Net cash used in financing activities | -$492.0M | -$22.3M | -$249.7M |
| Decrease in cash and cash equivalents and restricted cash | -$28.1M | -$97.1M | -$441.3M |
| Interest paid | $271.8M | $131.6M | $186.5M |
| Income taxes paid | $1.8M | $484.0K | $677.0K |
| Real estate improvements accrued, not paid | $20.4M | $23.9M | $38.8M |
No quarter-by-quarter statement was filed.
Leadership
Who has led DIVERSIFIED HEALTHCARE TRUST, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
2010201520202025
- Chief executive officerChristopher J. Bilotto Jan 2, 2024 to now11
- Chief executive officerJennifer F. Mintzer Jun 4, 2021 to Sep 20, 202312
- PresidentChristopher J. Bilotto Jan 2, 2024 to now11
- PresidentJennifer F. Mintzer May 7, 2018 to Sep 20, 202313
- PresidentDavid J. Hegarty Sep 22, 2006 to Sep 18, 201714
- Chief financial officerRichard W. Siedel Jr. Sep 19, 2016 to Sep 20, 202315
- Chief financial officerRichard A. Doyle Jr. Mar 15, 2007 to Sep 4, 201516
- Chief financial officerJohn R. Hoadley Sep 22, 2006 to Sep 22, 200617
- Chief operating officerJennifer F. Mintzer May 7, 2018 to Sep 23, 202013
- Chief operating officerDavid J. Hegarty Sep 22, 2006 to Sep 18, 201714
Board members and other officers (17)
- Treasurer and C.F.O.Richard W. Siedel Jr. Jan 4, 2016 to Jan 4, 201618
- Board memberAlan L. Felder Mar 20, 2025 to now19
- Board memberChristopher J. Bilotto Jun 4, 2024 to now20
- Board memberDawn K. Neher Jun 4, 2024 to now21
- Board memberPhyllis M. Hollis Sep 26, 2023 to now22
- Board memberDavid A. Pierce Mar 30, 2022 to Jun 6, 202323
- Board memberJennifer F. Mintzer Jun 4, 2021 to Sep 20, 202312
- Board memberDaniel F. Lepage May 19, 2020 to Jun 6, 202324
- Board memberJennifer B. Clark Apr 2, 2018 to Sep 23, 202025
- Board memberLisa Harris Jones Sep 29, 2015 to now26
- Board memberJeffrey P. Somers Jan 30, 2009 to now27
- Board memberAdam Portnoy May 30, 2007 to now28
- Board memberBarry M. Portnoy May 10, 2006 to May 19, 201729
- Board memberFrank J. Bailey May 10, 2006 to May 16, 200830
- Board memberFrederick N. Zeytoonjian May 10, 2006 to May 20, 201531
- Board memberGerard M. Martin May 10, 2006 to May 10, 200632
- Board memberJohn L. Harrington May 10, 2006 to Jun 4, 202433
Former names
- SENIOR HOUSING PROPERTIES TRUSTDec 24, 1998 to Nov 7, 20192
Timeline
Filings
264 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 63 major events, 73 insider forms, 36 large holders, 72 other. The latest 20:
- Sep 21, 20264 OWNERSHIP DOCUMENT EDGAR
- Sep 21, 20264 OWNERSHIP DOCUMENT EDGAR
- Sep 21, 20264 OWNERSHIP DOCUMENT EDGAR
- Sep 14, 20264 OWNERSHIP DOCUMENT EDGAR
- Sep 14, 20264 OWNERSHIP DOCUMENT EDGAR
- Sep 14, 20264 OWNERSHIP DOCUMENT EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 12, 2026SCHEDULE 13D/A EDGAR
- Aug 3, 202610-Q EDGAR
- Aug 3, 20268-K EDGAR
- Jul 28, 2026SCHEDULE 13G/A EDGAR
- Jun 12, 20264 OWNERSHIP DOCUMENT EDGAR
- Jun 12, 20264 OWNERSHIP DOCUMENT EDGAR
- Jun 12, 20264 OWNERSHIP DOCUMENT EDGAR
- Jun 12, 20264 OWNERSHIP DOCUMENT EDGAR
- Jun 12, 20264 OWNERSHIP DOCUMENT EDGAR
- Jun 12, 20264 OWNERSHIP DOCUMENT EDGAR
- Jun 12, 20264 OWNERSHIP DOCUMENT EDGAR
- Jun 12, 20268-K EDGAR
- Jun 1, 20268-K EDGAR
The 264 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 36 such filings since October 2021, the latest 10:
- Aug 14, 2026SCHEDULE 13G/A
- Aug 12, 2026SCHEDULE 13D/A
- Jul 28, 2026SCHEDULE 13G/A
- Mar 26, 2026SCHEDULE 13G/A
- Nov 8, 2024SC 13G/A
- Oct 22, 2024SCHEDULE 13G/A
- Oct 9, 2024SC 13D/A
- Feb 14, 2024SC 13G
- Feb 13, 2024SC 13G/A
- Feb 9, 2024SC 13G
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Flat Footed LLC | 23,487,002 | $218.4M | 37.9% | No change |
| BlackRock, Inc. | 23,076,173 | $214.6M | 0.0% | −802,514 |
| Silver Point Capital L.P. | 15,504,810 | $144.2M | 14.8% | No change |
| Vanguard Portfolio Management LLC | 10,592,743 | $98.5M | 0.0% | +1,774,923 |
| Vanguard Capital Management LLC | 9,675,173 | $90.0M | 0.0% | +75,470 |
| State Street Corp | 9,002,069 | $83.7M | 0.0% | +15,157 |
| Geode Capital Management, LLC | 7,060,965 | $65.7M | 0.0% | +452,468 |
| Davidson Kempner Capital Management LP | 6,409,530 | $59.6M | 1.5% | +161,700 |
| Nomura Holdings Inc | 6,277,985 | $58.4M | 0.2% | −1,054,287 |
| Carronade Capital Management, LP | 6,139,329 | $57.1M | 1.0% | +870,894 |
| Charles Schwab Investment Management Inc | 5,237,744 | $48.7M | 0.0% | −647,076 |
| Healthcare Of Ontario Pension Plan Trust Fund | 5,000,000 | $46.5M | 0.1% | No change |
| BlackBarn Capital Partners LP | 4,075,000 | $37.9M | 9.4% | −737,413 |
| Jpmorgan Chase & Co | 3,010,894 | $28.9M | 0.0% | +237,506 |
| Arrowstreet Capital, Limited Partnership | 3,041,186 | $28.3M | 0.0% | +686,362 |
| Centersquare Investment Management LLC | 2,862,591 | $26.6M | 0.2% | +160 |
| Northern Trust Corp | 2,801,935 | $26.1M | 0.0% | +602,662 |
| Dimensional Fund Advisors LP | 2,617,725 | $24.3M | 0.0% | +217,921 |
| Bank of New York Mellon Corp | 2,376,453 | $22.1M | 0.0% | −13,960 |
| Goldman Sachs Group Inc | 2,248,031 | $20.9M | 0.0% | +949,934 |
| Hudson Bay Capital Management LP | 2,000,000 | $18.6M | 0.1% | −4,550 |
| Allianz Asset Management GmbH | 1,767,596 | $16.4M | 0.0% | +1,234,822 |
| Morgan Stanley | 1,728,981 | $16.1M | 0.0% | +327,379 |
| First Trust Advisors LP | 1,632,802 | $15.2M | 0.0% | +1,605,130 |
| Vanguard Fiduciary Trust Co | 1,451,932 | $13.5M | 0.0% | +26,443 |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 13SEC EDGARJennifer F. Mintzer, President
- 14SEC EDGARDavid J. Hegarty, President
- 15
- 16
- 17
- 18
- 19SEC EDGARAlan L. Felder, Board member
- 20SEC EDGARChristopher J. Bilotto, Board member
- 21SEC EDGARDawn K. Neher, Board member
- 22SEC EDGARPhyllis M. Hollis, Board member
- 23SEC EDGARDavid A. Pierce, Board member
- 24SEC EDGARDaniel F. Lepage, Board member
- 25SEC EDGARJennifer B. Clark, Board member
- 26SEC EDGARLisa Harris Jones, Board member
- 27SEC EDGARJeffrey P. Somers, Board member
- 28SEC EDGARAdam Portnoy, Board member
- 29SEC EDGARBarry M. Portnoy, Board member
- 30SEC EDGARFrank J. Bailey, Board member
- 31
- 32SEC EDGARGerard M. Martin, Board member
- 33SEC EDGARJohn L. Harrington, Board member