American Healthcare REIT (NYSE:AHR) Hits New 1-Year High Following Analyst Upgrade

American Healthcare REIT, Inc. (NYSE:AHR) shares reached a new 52-week high during mid-day trading on Monday after Bank of America raised their price target on the stock from $27.00 to $31.00. Bank of America currently has a buy rating on the stock. American Healthcare REIT traded as high as $26.42 and last traded at $26.36, with a volume of 70605 shares traded. The stock had previously closed at $25.68.

Several other research firms have also issued reports on AHR. JMP Securities lifted their price target on American Healthcare REIT from $18.00 to $30.00 and gave the stock a “market outperform” rating in a research report on Friday, September 20th. Truist Financial lifted their price target on American Healthcare REIT from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Morgan Stanley boosted their target price on American Healthcare REIT from $17.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, KeyCorp boosted their target price on American Healthcare REIT from $16.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in shares of American Healthcare REIT by 2.6% during the 2nd quarter. Principal Financial Group Inc. now owns 6,158,036 shares of the company’s stock valued at $89,970,000 after acquiring an additional 157,762 shares during the period. Centersquare Investment Management LLC bought a new position in shares of American Healthcare REIT during the 1st quarter valued at approximately $63,269,000. V3 Capital Management L.P. bought a new position in American Healthcare REIT in the 1st quarter worth approximately $42,337,000. Land & Buildings Investment Management LLC boosted its stake in American Healthcare REIT by 19.3% in the 2nd quarter. Land & Buildings Investment Management LLC now owns 1,797,400 shares of the company’s stock worth $26,260,000 after purchasing an additional 290,740 shares during the period. Finally, Goldentree Asset Management LP bought a new position in American Healthcare REIT in the 1st quarter worth approximately $22,125,000. 16.68% of the stock is currently owned by institutional investors.

American Healthcare REIT Stock Up 0.7 %

The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.60. The company has a 50 day simple moving average of $19.82 and a two-hundred day simple moving average of $16.26.

American Healthcare REIT (NYSE:AHR) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.28). American Healthcare REIT had a negative return on equity of 2.20% and a negative net margin of 1.99%. The business had revenue of $504.60 million during the quarter, compared to the consensus estimate of $506.55 million. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, sell-side analysts expect that American Healthcare REIT, Inc. will post 1.28 EPS for the current fiscal year.

American Healthcare REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, September 20th will be paid a $0.25 dividend. The ex-dividend date is Friday, September 20th. This represents a $1.00 annualized dividend and a yield of 3.82%.

About American Healthcare REIT

Formed by the successful merger of Griffin-American Healthcare REIT III and Griffin-American Healthcare REIT IV, as well as the acquisition of the business and operations of American Healthcare Investors, American Healthcare REIT is one of the larger healthcare-focused real estate investment trusts globally with assets totaling approximately $4.2 billion in gross investment value.