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Diversified Healthcare Trust (DHC) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Diversified Healthcare Trust $6.16, price $8.13, upside -24.2%, quality 40 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Real Estate · US · ISIN US25525P1075

DH Diversified Healthcare Trust logo Some data Sep 24, 2026

Diversified Healthcare Trust

DHC · US

Weak valuationQuality is weak on top of the rich price.

!Fair value $6.16 · Overvalued (−24%)
!Quality 40/100
!Weak Growth (revenue 5y −1.2 %/yr)
!Loss-making · -21.1% net margin (TTM)
!Moderate debt · negative free cash flow
·0.49% dividend yield
!Trails peers (3/13)
!Narrow moat 12/100
!Evidence only medium, so the estimate is less certain
!The models disagree: range $2.25 to $10.07
!Weak on valuation: 1 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$9.64 $0.5890 Fair Value $6.16 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range $0.5890 – $9.64 · fair‑value band $2.25 – $10.07 · the $8.13 price screens above the $6.16 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Diversified Healthcare Trust is a real estate investment trust 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.

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Diversified Healthcare Trust is a real estate investment trust 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, 2026, DHC's approximately 6.2 billion dollars portfolio included 285 properties in 33 states and Washington, D.C., with 23,901 senior living units, approximately 5.6 million square feet of medical office and life science properties and occupied by approximately 250 tenants. DHC is managed by The RMR Group, a leading U.S. alternative asset management company with over 37 billion dollars in assets under management as of March 31, 2026 and 40 years of institutional experience in buying, selling, financing and operating commercial real estate. DHC is headquarters in Newton, MA. Diversified Healthcare Trust was incorporated in 1998 in Maryland.

Stock analysis

Diversified Healthcare Trust (DHC) currently trades at $8.13, while our model-based Fair Value estimate is $6.16, implying the stock looks roughly 32.0% overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of $6.23 per share, and 0 of the 4 models we run sit above the $8.13 price.

Bear case: the Asset-Based group reads lowest at $4.61, and 4 of the 4 models stay below the price. Evidence for this calculation is medium.

Scenario range: $2.25 (bear) to $10.07 (bull), the price of $8.13 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 40/100 (below-average quality), in the Real Estate sector.

Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.

Diversified Healthcare Trust reported revenue of $1.5B in FY2025 versus $1.4B in FY2021, a compound +2.7%/yr. Reported net income was −$286M in FY2025.

Key figures

Market cap $2.1B · P/S ratio 1.41 · EPS (TTM) $−1.33 · Dividend yield 0.5% · Net margin −18.6% · Return on equity −17.9% · Return on assets (EBIT) 1.1% · Operating margin −1.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).

What moves the price

The share trades about 16% below its 52-week high and 102% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at 6% fair-value upside, at −24%, DHC screens richer than that median.

Fair Value models

Bear $2.25 Fair Value $6.16 Bull $10.07
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Gordon GGM $0.3500 $0.7000 $1.06 67
DDM Multi-Stage $0.3500 $0.6000 $0.7400 67
EV/EBITDA $2.32 $6.23 $10.14 62
All 4 models by family
Dividend Discount
Gordon GGM $0.3500 $0.7000 $1.06 67
DDM Multi-Stage $0.3500 $0.6000 $0.7400 67
Multiples
EV/EBITDA $2.32 $6.23 $10.14 62
Asset-Based
NCAV (Graham) $3.44 $4.61 $6.88 54

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Quality Score breakdown

Overall quality 40/100

Of which business quality 38 · Market factors (momentum, volatility) 59

Profitability 4
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 31
Earnings quality: real cash, not paper profit
Fin. Strength 23
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 24
Calm price path (market factor)
Momentum 66
Price trend over the last 3–12 months (market factor)
52W Momentum 87
Distance to the 52-week high (market factor)
Net Issuance 79
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 8/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
+2.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.2%
Start year 2020 (pandemic). Over 10 years: +4.4% a year
Revenue growth 27 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.2%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
22.3% (2020) → −2.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

DHC screens 32% overvalued. Compare with Welltower Inc →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.REIT - Healthcare Facilities · 25 stocks

Beats the industry median on 3/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 41 · Bottom 25%
Fair Value upside −24% · Bottom 25%
Profitability
Return on assets −1% · Bottom 25%
Net margin (TTM) −21% · Bottom 25%
Operating margin (TTM) −1% · Bottom 25%
Growth and dividend
Revenue growth −5% · Bottom 25%
Dividend yield (TTM) 0.5% · Bottom 25%
Balance sheet
Debt / equity 1.44× · Highest 25%

Valuation Multiplesvs REIT - Healthcare Facilities median · lower = cheaper

P/B 1.29× · Cheaper than median
P/S (TTM) 1.41× · Cheapest 25%
EV/EBITDA 20.4× · Pricier than median
PEG 1.89× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)1 · sector 42
FUTURE (revenue growth)0 · sector 36
PAST (return on equity)0 · sector 23
HEALTH (low debt)28 · sector 73
DIVIDEND (yield)10 · sector 100

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more REIT - Healthcare Facilities stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Welltower Inc WELL $230.39 $76.38 −67%
Ventas, Inc VTR $86.86 $36.31 −58%
Omega Healthcare Investors, Inc OHI $46.47 $57.49 +24%
Healthpeak Properties, Inc DOC $20.60 $22.31 +8%
American Healthcare REIT, Inc AHR $51.69 $14.43 −72%
CareTrust REIT, Inc CTRE $37.43 $39.80 +6%
Healthcare Realty Trust Incorporated HR $18.18 $20.60 +13%
Aedifica NV AED €66.40 €59.48 −10%
Sabra Health Care REIT, Inc SBRA $19.81 $22.66 +14%
National Health Investors, Inc NHI $67.41 $71.68 +6%

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$6.16 −32%Fair Value
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Cite: Fair Value Calculator (2026). "Diversified Healthcare Trust Fair Value". https://www.fairvalue-calculator.com/stock/DHC

Frequently asked questions

Is Diversified Healthcare Trust (DHC) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $6.16 versus a price of $8.13, about −24% upside (overvalued).
What is the fair value of DHC?
Our model-based fair value for Diversified Healthcare Trust is $6.16 (as of Sep 24, 2026), built from audited fundamentals. The current price: $8.13.
What is the quality score of DHC?
Diversified Healthcare Trust has a Quality Score of 40/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Diversified Healthcare Trust (DHC)?
Our model-based price target is the fair value of $6.16 (as of Sep 24, 2026) from 4 valuation models. Cautious scenario $2.25, optimistic scenario $10.07. It is a calculation from audited fundamentals, not an analyst target.
What is the Diversified Healthcare Trust stock forecast for 2026?
Our models put fair value at $6.16, about −24% upside versus a price of $8.13 (overvalued). Cautious scenario $2.25, optimistic scenario $10.07. The calculation is refreshed regularly with new filings.
What is the revenue of Diversified Healthcare Trust (DHC)?
Diversified Healthcare Trust reported trailing-twelve-month revenue of about $1.5B (latest available figure, as of Sep 24, 2026).
Does Diversified Healthcare Trust pay a dividend?
Diversified Healthcare Trust currently shows a dividend yield of about 0.49% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Diversified Healthcare Trust (DHC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Diversified Healthcare Trust it is $6.16 per share (as of Sep 24, 2026), against a price of $8.13. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Diversified Healthcare Trust stock overvalued or undervalued in 2026?
As of Sep 24, 2026, DHC trades above its calculated fair value: price $8.13, fair value $6.16, a gap of about −24% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of DHC?
No. The price is what the market pays today ($8.13); the fair value is what the company's own numbers justify ($6.16). For Diversified Healthcare Trust the two are $1.97 per share apart. That gap is exactly why we show both numbers side by side.
How much is Diversified Healthcare Trust worth?
The market values Diversified Healthcare Trust at about $2.1B (market capitalisation, as of Sep 24, 2026). Per share that is $8.13; our models calculate a fair value of $6.16 per share.
What do the bullish and bearish scenarios say about DHC?
Our models span a range for Diversified Healthcare Trust: cautious scenario $2.25, base $6.16, optimistic $10.07 per share (as of Sep 24, 2026, price $8.13). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of DHC?
The PEG ratio of Diversified Healthcare Trust is 1.89 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Diversified Healthcare Trust (DHC)?
Balance-sheet figures for Diversified Healthcare Trust (as of Sep 24, 2026): return on equity −17.9%, debt of 1.44 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is DHC from its 52-week high?
Diversified Healthcare Trust trades at $8.13, about 16% below its 52-week high of $9.64 and 102% above the low of $4.03 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $6.16 is for.
Which stocks are comparable to Diversified Healthcare Trust?
From the same area (Real Estate) we also value Welltower Inc, Ventas, Inc, Omega Healthcare Investors, Inc, Healthpeak Properties, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Diversified Healthcare Trust stock attractive at the current price?
The data as of Sep 24, 2026: price $8.13, calculated fair value $6.16 (−24%), Quality Score 40/100, from 4 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of DHC calculated?
We run Diversified Healthcare Trust through 4 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $6.16, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Diversified Healthcare Trust itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Diversified Healthcare Trust (DHC)?
The closing price on Sep 23, 2026 was $8.13. Our model-based fair value is $6.16, about −24% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Diversified Healthcare Trust right now?
Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide ($2.25 to $10.07). The outcome hinges heavily on assumptions, so read the point estimate with caution. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Key figures of Diversified Healthcare Trust

How large is the market capitalisation of Diversified Healthcare Trust (DHC)?
The market capitalisation of Diversified Healthcare Trust is $2.1B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Diversified Healthcare Trust (DHC)?
The price-to-sales ratio of Diversified Healthcare Trust is 1.41 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Diversified Healthcare Trust (DHC)?
Earnings per share at Diversified Healthcare Trust are $−1.33. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Diversified Healthcare Trust (DHC)?
The dividend yield of Diversified Healthcare Trust is 0.5%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Diversified Healthcare Trust (DHC)?
The net margin of Diversified Healthcare Trust is −18.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Diversified Healthcare Trust (DHC)?
The return on equity (ROE) of Diversified Healthcare Trust is −17.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Diversified Healthcare Trust (DHC)?
On an EBIT basis the return on assets of Diversified Healthcare Trust is 1.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Diversified Healthcare Trust (DHC)?
The operating margin of Diversified Healthcare Trust is −1.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Diversified Healthcare Trust (DHC)?
Revenue at Diversified Healthcare Trust is growing −5.3% versus a year earlier (3y avg +6.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Diversified Healthcare Trust (DHC)?
Earnings per share at Diversified Healthcare Trust are growing −68.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Diversified Healthcare Trust (DHC) generate?
The free cash flow of Diversified Healthcare Trust is −$19.6M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Diversified Healthcare Trust (DHC) carry?
The net debt of Diversified Healthcare Trust is $2.3B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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