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 Monday . The stock traded as high as $35.52 and last traded at $35.43, with a volume of 230405 shares. The stock had previously closed at $35.51.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AHR shares. KeyCorp decreased their target price on shares of American Healthcare REIT from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Jefferies Financial Group began coverage on American Healthcare REIT in a report on Monday, April 28th. They set a “buy” rating and a $37.00 price target on the stock. Morgan Stanley boosted their price objective on shares of American Healthcare REIT from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $34.00 price target on shares of American Healthcare REIT in a research note on Wednesday, March 19th. Finally, Citigroup reissued an “outperform” rating on shares of American Healthcare REIT in a research note on Tuesday, March 4th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $33.86.

American Healthcare REIT Trading Down 0.8%

The firm has a market capitalization of $5.62 billion, a P/E ratio of -73.42, a price-to-earnings-growth ratio of 1.57 and a beta of 1.40. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.59. The stock has a 50-day simple moving average of $30.78 and a two-hundred day simple moving average of $29.11.

American Healthcare REIT (NYSE:AHR) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. American Healthcare REIT had a negative return on equity of 1.87% and a negative net margin of 1.84%. The business had revenue of $540.60 million during the quarter, compared to analysts’ expectations of $542.32 million. During the same quarter in the previous year, the firm posted $0.30 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities research analysts anticipate that American Healthcare REIT, Inc. will post 1.41 earnings per share for the current year.

American Healthcare REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Monday, March 31st were given a dividend of $0.25 per share. The ex-dividend date was Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 2.84%. American Healthcare REIT’s payout ratio is -370.37%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of American Healthcare REIT by 94.8% during the fourth quarter. Vanguard Group Inc. now owns 15,357,331 shares of the company’s stock worth $436,455,000 after buying an additional 7,474,374 shares during the period. Invesco Ltd. lifted its stake in American Healthcare REIT by 1,543.1% during the 1st quarter. Invesco Ltd. now owns 5,022,455 shares of the company’s stock worth $152,180,000 after acquiring an additional 4,716,792 shares in the last quarter. Alliancebernstein L.P. lifted its stake in American Healthcare REIT by 350.7% during the 1st quarter. Alliancebernstein L.P. now owns 4,559,365 shares of the company’s stock worth $138,149,000 after acquiring an additional 3,547,635 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in American Healthcare REIT by 29.0% during the 4th quarter. Principal Financial Group Inc. now owns 12,238,887 shares of the company’s stock valued at $347,831,000 after acquiring an additional 2,750,137 shares during the period. Finally, Nuveen LLC acquired a new position in American Healthcare REIT in the 1st quarter valued at about $68,097,000. 16.68% of the stock is currently owned by hedge funds and other institutional investors.

American Healthcare REIT Company Profile

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.