American Healthcare REIT (NYSE:AHR) Hits New 52-Week High Following Analyst Upgrade

American Healthcare REIT, Inc. (NYSE:AHR)’s share price hit a new 52-week high during mid-day trading on Monday after Citizens Jmp raised their price target on the stock from $50.00 to $60.00. Citizens Jmp currently has a market outperform rating on the stock. American Healthcare REIT traded as high as $50.16 and last traded at $49.9250, with a volume of 718 shares traded. The stock had previously closed at $49.42.

Other equities research analysts have also issued reports about the company. Citigroup restated an “outperform” rating on shares of American Healthcare REIT in a research report on Friday, October 17th. Baird R W raised shares of American Healthcare REIT to a “strong-buy” rating in a research report on Thursday, July 17th. JMP Securities increased their price target on shares of American Healthcare REIT from $45.00 to $50.00 and gave the stock a “market outperform” rating in a research note on Friday, October 17th. Robert W. Baird initiated coverage on shares of American Healthcare REIT in a research note on Friday, July 18th. They set an “outperform” rating and a $41.00 price objective on the stock. Finally, KeyCorp restated an “overweight” rating on shares of American Healthcare REIT in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, American Healthcare REIT has an average rating of “Buy” and an average price target of $46.50.

Insiders Place Their Bets

In other American Healthcare REIT news, EVP Mark E. Foster sold 3,850 shares of American Healthcare REIT stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $41.89, for a total value of $161,276.50. Following the completion of the sale, the executive vice president owned 59,100 shares of the company’s stock, valued at approximately $2,475,699. This trade represents a 6.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On American Healthcare REIT

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of American Healthcare REIT by 2.7% in the third quarter. Vanguard Group Inc. now owns 23,529,739 shares of the company’s stock worth $988,484,000 after buying an additional 611,809 shares in the last quarter. State Street Corp raised its holdings in shares of American Healthcare REIT by 6.5% during the 2nd quarter. State Street Corp now owns 6,902,944 shares of the company’s stock worth $255,289,000 after acquiring an additional 422,931 shares in the last quarter. Invesco Ltd. boosted its position in shares of American Healthcare REIT by 15.9% during the 2nd quarter. Invesco Ltd. now owns 5,820,530 shares of the company’s stock valued at $213,846,000 after acquiring an additional 798,075 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of American Healthcare REIT by 16.7% in the second quarter. Alliancebernstein L.P. now owns 5,318,866 shares of the company’s stock valued at $195,415,000 after purchasing an additional 759,501 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in American Healthcare REIT by 20.5% during the second quarter. Geode Capital Management LLC now owns 4,578,867 shares of the company’s stock valued at $174,882,000 after purchasing an additional 779,109 shares in the last quarter. Institutional investors own 16.68% of the company’s stock.

American Healthcare REIT Stock Up 1.7%

The firm has a market cap of $8.47 billion, a P/E ratio of 355.83, a price-to-earnings-growth ratio of 2.44 and a beta of 0.98. The company’s 50-day simple moving average is $42.96 and its 200 day simple moving average is $38.90. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.48.

American Healthcare REIT (NYSE:AHR) last announced its earnings results on Thursday, August 7th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $542.50 million during the quarter, compared to analysts’ expectations of $539.49 million. American Healthcare REIT had a return on equity of 1.13% and a net margin of 1.21%.During the same quarter in the previous year, the business earned $0.33 EPS. The company’s quarterly revenue was up 7.5% on a year-over-year basis. Research analysts anticipate that American Healthcare REIT, Inc. will post 1.41 EPS for the current fiscal year.

American Healthcare REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. American Healthcare REIT’s dividend payout ratio (DPR) is 714.29%.

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.