American Healthcare REIT (NYSE:AHR) Hits New 12-Month High – Here’s Why

Shares of American Healthcare REIT, Inc. (NYSE:AHR) hit a new 52-week high during trading on Tuesday . The stock traded as high as $31.04 and last traded at $30.77, with a volume of 795280 shares traded. The stock had previously closed at $30.30.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JMP Securities set a $35.00 price target on shares of American Healthcare REIT in a report on Tuesday, March 4th. Citigroup reiterated an “outperform” rating on shares of American Healthcare REIT in a report on Tuesday, March 4th. Royal Bank of Canada restated an “outperform” rating and set a $34.00 price target on shares of American Healthcare REIT in a research note on Wednesday, March 19th. Morgan Stanley raised their price objective on American Healthcare REIT from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Finally, KeyCorp decreased their target price on American Healthcare REIT from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Monday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $33.33.

American Healthcare REIT Stock Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a fifty day simple moving average of $29.15 and a two-hundred day simple moving average of $27.73. The stock has a market cap of $4.94 billion and a PE ratio of -65.41.

American Healthcare REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be paid a $0.25 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 3.19%. American Healthcare REIT’s dividend payout ratio (DPR) is presently -370.37%.

Hedge Funds Weigh In On American Healthcare REIT

A number of institutional investors have recently added to or reduced their stakes in AHR. Janus Henderson Group PLC grew its stake in shares of American Healthcare REIT by 79.8% during the third quarter. Janus Henderson Group PLC now owns 94,112 shares of the company’s stock valued at $2,456,000 after acquiring an additional 41,755 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in American Healthcare REIT during the 4th quarter valued at approximately $758,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in American Healthcare REIT by 407.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 356,497 shares of the company’s stock worth $9,305,000 after purchasing an additional 286,292 shares during the last quarter. Zacks Investment Management acquired a new position in shares of American Healthcare REIT in the 3rd quarter valued at approximately $1,129,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of American Healthcare REIT during the 3rd quarter valued at approximately $5,552,000. Institutional investors and hedge funds own 16.68% of the company’s stock.

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.