American Healthcare REIT (NYSE:AHR) Reaches New 12-Month High – Time to Buy?

American Healthcare REIT, Inc. (NYSE:AHR) hit a new 52-week high during trading on Monday . The company traded as high as $38.12 and last traded at $37.81, with a volume of 953708 shares changing hands. The stock had previously closed at $37.26.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AHR shares. Jefferies Financial Group initiated coverage on American Healthcare REIT in a report on Monday, April 28th. They issued a “buy” rating and a $37.00 target price for the company. Baird R W raised American Healthcare REIT to a “strong-buy” rating in a research report on Thursday. KeyCorp lifted their target price on American Healthcare REIT from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, June 11th. Truist Financial boosted their price target on American Healthcare REIT from $32.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Finally, Scotiabank assumed coverage on American Healthcare REIT in a research note on Monday, June 30th. They issued a “sector outperform” rating and a $42.00 price target for the company. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $38.11.

American Healthcare REIT Stock Performance

The business’s 50 day simple moving average is $35.70 and its two-hundred day simple moving average is $31.60. The firm has a market capitalization of $6.09 billion, a PE ratio of -141.40, a price-to-earnings-growth ratio of 2.13 and a beta of 1.09. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.45.

American Healthcare REIT (NYSE:AHR) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. American Healthcare REIT had a negative return on equity of 1.85% and a negative net margin of 1.96%. The business had revenue of $540.60 million during the quarter, compared to analyst estimates of $542.32 million. During the same quarter in the prior year, the business posted $0.30 EPS. American Healthcare REIT’s revenue for the quarter was up 8.2% compared to the same quarter last year. Research analysts expect that American Healthcare REIT, Inc. will post 1.41 earnings per share for the current fiscal year.

American Healthcare REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Monday, June 30th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Monday, June 30th. American Healthcare REIT’s payout ratio is -370.37%.

Insider Activity at American Healthcare REIT

In other American Healthcare REIT news, CIO Stefan K.L. Oh sold 3,860 shares of the firm’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $36.10, for a total value of $139,346.00. Following the completion of the sale, the executive owned 95,671 shares of the company’s stock, valued at $3,453,723.10. This trade represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On American Healthcare REIT

A number of institutional investors have recently modified their holdings of the stock. Wolff Wiese Magana LLC purchased a new position in American Healthcare REIT during the first quarter valued at approximately $25,000. MassMutual Private Wealth & Trust FSB increased its holdings in American Healthcare REIT by 189.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 968 shares of the company’s stock valued at $29,000 after buying an additional 633 shares during the period. Spirit of America Management Corp NY purchased a new position in American Healthcare REIT during the first quarter valued at approximately $30,000. Physician Wealth Advisors Inc. purchased a new position in American Healthcare REIT in the second quarter worth $34,000. Finally, Avalon Trust Co purchased a new position in American Healthcare REIT in the first quarter worth $36,000. 16.68% of the stock is owned by hedge funds and other institutional investors.

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.