American Healthcare REIT (NYSE:AHR) Hits New 1-Year High – Still a Buy?

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

Wall Street Analyst Weigh In

Several analysts have weighed in on AHR shares. KeyCorp cut their target price on American Healthcare REIT from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Monday. JMP Securities set a $35.00 price target on shares of American Healthcare REIT in a research report on Tuesday, March 4th. Morgan Stanley lifted 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 note on Tuesday, March 25th. Royal Bank of Canada restated an “outperform” rating and set a $34.00 price target on shares of American Healthcare REIT in a report on Wednesday, March 19th. Finally, Citigroup restated an “outperform” rating on shares of American Healthcare REIT in a research note on Tuesday, March 4th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $33.33.

American Healthcare REIT Price Performance

The company’s fifty day moving average price is $29.15 and its 200 day moving average price is $27.73. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $4.94 billion and a P/E ratio of -65.41.

American Healthcare REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 3.19%. American Healthcare REIT’s payout ratio is currently -370.37%.

Institutional Trading of American Healthcare REIT

Institutional investors and hedge funds have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB lifted its position in shares of American Healthcare REIT by 189.0% during the 1st 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 last quarter. GAMMA Investing LLC raised its position in shares of American Healthcare REIT by 104.1% in the fourth quarter. GAMMA Investing LLC now owns 988 shares of the company’s stock worth $28,000 after buying an additional 504 shares in the last quarter. Richardson Capital Management LLC purchased a new position in shares of American Healthcare REIT during the fourth quarter worth about $29,000. Carolina Wealth Advisors LLC bought a new position in shares of American Healthcare REIT in the 4th quarter worth $29,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of American Healthcare REIT during the 3rd quarter valued at about $28,000. 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.