Diversified Healthcare Trust (DHC) reported third-quarter 2026 revenue of $367.7 million, down 5.4% from $388.7 million, and a net loss of $50.2 million, compared with $164.0 million a year earlier. Comparable SHOP residents fees and services increased 5.8%; occupancy across all SHOP properties was 83.8%, versus 81.5%. Cash provided by operating activities for the nine months ended September 30, 2026 was $74.1 million, compared with $492,000 a year earlier.
On October 1, 2026, DHC transitioned seven skilled nursing facilities with 807 units to a 15-year triple net lease with operating subsidiaries of The Ensign Group, Inc. Initial annual rent is $8.0 million, with annual increases based on the Consumer Price Index. DHC also expects to transition six communities with 486 units to a new manager as early as the fourth quarter of 2026 after giving notice to terminate their management agreements. It declared a quarterly distribution of $0.01 per share, payable on or about November 12, 2026.
Diversified Healthcare Trust (DHC) reported third-quarter 2026 revenue of $367.7 million and a net loss of $50.2 million, compared with $388.7 million of revenue and a $164.0 million net loss a year earlier. Adjusted EBITDAre rose 28.4% to $73.4 million, same-property cash-basis NOI rose 25.6% to $77.9 million, and Normalized FFO per share increased to $0.13 from $0.02.
SHOP same-property occupancy was 84.4%, up 200 basis points year over year, while average monthly rates increased 5.2%. DHC leased approximately 130,000 square feet in its Medical Office and Life Science portfolio at weighted average rents 25.2% above prior rents, with a 9.7-year weighted average lease term. On October 1, seven skilled nursing facilities transitioned to a 15-year triple-net lease with initial annual rent of $8.0 million; DHC expects the arrangement to significantly reduce future capital expenditure requirements.
Updated full-year 2026 guidance includes Normalized FFO of $0.46–$0.52 per common share and Adjusted EBITDAre of $275.7–$290.7 million. These measures include estimated incentive management fees.
DIVERSIFIED HEALTHCARE TRUST (DHC) reported that director Adam D. Portnoy had common shares withheld on September 17, 2026 to pay taxes due upon vesting of equity awarded under Rule 16b-3. The tax liability was satisfied by withholding 19,315 shares at $8.13 per share, leaving him with 467,923.55 common shares held directly and 23,250,019 shares held indirectly through ABP Trust, for which he disclaims beneficial ownership except to the extent of his pecuniary interest. No Rule 10b5-1 trading plan is reported.
DIVERSIFIED HEALTHCARE TRUST (DHC) reported that its CFO and Treasurer, Matthew C. Brown, had 13,895 Common Shares of Beneficial Interest withheld on September 17, 2026 to satisfy tax liabilities related to a vesting equity award, as permitted under Rule 16b-3. The shares were valued at $8.13 per share for this tax-withholding transaction, and Brown now holds 153,109 shares directly.
DIVERSIFIED HEALTHCARE TRUST (DHC) reported that President and CEO, and director, Christopher J. Bilotto had 25,118 common shares of beneficial interest withheld on September 17, 2026 to pay tax liability upon vesting of equity compensation under Rule 16b-3. After this tax-withholding disposition, he holds 314,066.96 shares directly. No Rule 10b5-1 trading plan is reported.
DIVERSIFIED HEALTHCARE TRUST (symbol: DHC) is the issuer of record for a Form 4 filing submitted to the SEC. PORTNOY ADAM D. reported acquisition or exercise transactions in this Form 4 filing.
DIVERSIFIED HEALTHCARE TRUST (DHC) reported that director Adam D. Portnoy received an award of 59,681 common shares of beneficial interest on September 10, 2026 under the company’s equity compensation plan. Following this grant, he holds 487,238.55 shares directly and has additional indirect ownership through ABP Trust, subject to a beneficial ownership disclaimer.
DIVERSIFIED HEALTHCARE TRUST (symbol: DHC) is the issuer of record for a Form 4 filing submitted to the SEC. Brown Matthew C. reported acquisition or exercise transactions in this Form 4 filing.
DIVERSIFIED HEALTHCARE TRUST (DHC) reported that its Chief Financial Officer and Treasurer, Matthew C. Brown, received an award of 53,050 Common Shares of Beneficial Interest on September 10, 2026. The award was granted under the company’s equity compensation plan, increasing his direct holdings to 167,004 shares.
DIVERSIFIED HEALTHCARE TRUST (DHC) reported that President and CEO Christopher J. Bilotto received an award of 59,681 common shares of beneficial interest on September 10, 2026, as an equity grant under the company’s equity compensation plan.
Following this award and related changes, he now directly holds a total of 339,184.96 shares, including 256.99 shares previously acquired through the dividend reinvestment plan; 0.475 fractional shares from that plan were sold for cash. No Rule 10b5-1 trading plan is indicated.
Diversified Healthcare Trust received an updated ownership report from FF Hybrid, LP, Flat Footed LLC and Marc Andersen. FF Hybrid, LP reports beneficial ownership of 18,054,554 common shares, representing 7.5% of the class. Flat Footed LLC and Marc Andersen each report beneficial ownership of 23,487,002 common shares, or 9.7% of the class, based on 242,106,926 shares outstanding as of April 30, 2026.
The reporting persons indicate shared voting and dispositive power over their reported shares and no sole voting or dispositive power. Flat Footed LLC is an SEC-registered investment adviser and acts as investment manager to FF Hybrid, LP and other funds, which hold the securities for the benefit of their investors. The funds have the right to receive dividends and sale proceeds, and they expressly disclaim beneficial ownership under Rule 13d-4.
Diversified Healthcare Trust investor H/2 Special Opportunities IV L.P. filed an amended Schedule 13D reporting that it now beneficially owns 12,067,366 common shares, representing 4.98% of the outstanding shares as of August 10, 2026. As a result, the reporting person ceased to be a beneficial owner of more than five percent of the shares on that date, and this amendment is stated to be the final amendment to the prior Schedule 13D.
The filing notes that earlier correspondence from an affiliate regarding a proposed merger with Office Properties Income Trust is no longer relevant because that merger agreement was mutually terminated and the transaction was abandoned. The reporting person reports broker-dealer sales totaling 750,000 shares on August 4, 5, and 10, 2026 at prices between $8.40 and $9.15 per share, and confirms no other share transactions in the prior 60 days.