Diversified Healthcare Trust (Nasdaq: DHC) is a real estate investment trust (REIT) that owns a diverse portfolio of healthcare and life science properties across the United States. The company's real estate assets are primarily categorized into two main segments: the Office Portfolio, which includes medical office buildings and life science/research facilities, and the Senior Housing Operating Portfolio (SHOP), which consists of senior living communities. DHC generates revenue by leasing its properties to healthcare providers, life science companies, and senior living operators who require specialized real estate for patient care, medical research, or housing older adults.
The company does not operate hospitals or medical practices itself; rather, it provides the critical real estate infrastructure that supports the healthcare industry. As of recent filings, DHC's multi-billion dollar portfolio spans over 30 states and Washington, D.C., encompassing millions of square feet of medical office and life science space, alongside tens of thousands of senior living units. DHC is externally managed by The RMR Group, a leading alternative asset management company, which oversees its day-to-day operations, property management, and strategic acquisitions. The company's competitive position is bolstered by its strategic diversification across different healthcare sub-sectors, mitigating risks associated with any single property type or tenant class while capitalizing on long-term demographic trends such as the aging U.S. population and increased healthcare spending.
