NEWTON, Mass.--(BUSINESS WIRE)--Diversified Healthcare Trust (Nasdaq: DHC) today announced a regular quarterly cash distribution on its common shares of $0.01 per common share ($0.04 per share per year). This distribution will be paid to DHC’s common shareholders of record as of the close of business on July 24, 2023 and distributed on or about August 17, 2023.
About Diversified Healthcare Trust:
DHC is a real estate investment trust, or REIT, focused on owning high-quality healthcare properties located throughout the United States. DHC seeks diversification across the health services spectrum by care delivery and practice type, by scientific research disciplines and by property type and location. As of March 31, 2023, DHC’s approximately $7.1 billion portfolio included 376 properties in 36 states and Washington, D.C., occupied by approximately 500 tenants, and totaling approximately 9 million square feet of life science and medical office properties and more than 27,000 senior living units. DHC is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $37 billion in assets under management as of March 31, 2023 and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. DHC is headquartered in Newton, MA. For more information, visit www.dhcreit.com.
WARNING CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements are based upon DHC’s present intent, beliefs and expectations, but these statements and the implications of these statements are not guaranteed to occur and may not occur for various reasons, some of which are beyond DHC’s control.
For example, this press release states that DHC’s regular quarterly cash distribution rate is $0.01/share per quarter or $0.04/share per year. A possible implication of this statement is that DHC will continue to pay quarterly distributions of $0.01/share per quarter or $0.04/share per year in the future. DHC’s distribution rate may be set and reset from time to time by DHC’s Board of Trustees. DHC’s Board of Trustees considers many factors when setting or resetting DHC’s distribution rate, including DHC’s historical and projected net income, normalized funds from operations, requirements to maintain DHC’s qualification for taxation as a REIT, limitations in DHC’s debt agreements, the availability to DHC of debt and equity capital, DHC’s expectation of its future capital requirements and operating performance, DHC’s expected needs for and availability of cash to pay its obligations and other factors deemed relevant by DHC’s Board of Trustees in its discretion. Further, DHC’s projected cash available for distribution may change and may vary from its expectations. Accordingly, future distributions to DHC’s shareholders may be increased or decreased and DHC cannot be sure as to the rate at which future distributions will be paid.
You should not place undue reliance upon forward-looking statements.
Except as required by law, DHC does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.
A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.