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

American Healthcare REIT, Inc. (NYSE:AHR) reached a new 52-week high during trading on Monday . The company traded as high as $31.64 and last traded at $31.43, with a volume of 246404 shares. The stock had previously closed at $31.11.

Analyst Ratings Changes

A number of equities analysts have weighed in on AHR shares. Jefferies Financial Group initiated coverage on shares of American Healthcare REIT in a research report on Monday. They issued a “buy” rating and a $37.00 price target for the company. Morgan Stanley raised their price target on American Healthcare REIT from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Citigroup reaffirmed an “outperform” rating on shares of American Healthcare REIT in a research note on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $34.00 price target on shares of American Healthcare REIT in a report on Wednesday, March 19th. Finally, JMP Securities set a $35.00 price objective on shares of American Healthcare REIT in a report on Tuesday, March 4th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, American Healthcare REIT currently has an average rating of “Buy” and an average target price of $33.86.

American Healthcare REIT Price Performance

The company has a debt-to-equity ratio of 0.59, a current ratio of 0.37 and a quick ratio of 0.37. The stock’s fifty day moving average is $29.51 and its 200-day moving average is $28.30. The stock has a market capitalization of $4.93 billion, a PE ratio of -65.26, a P/E/G ratio of 1.57 and a beta of 1.42.

American Healthcare REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Monday, March 31st were given a $0.25 dividend. The ex-dividend date was 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 the stock. Vanguard Group Inc. raised its stake in 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 purchasing an additional 7,474,374 shares during the period. Principal Financial Group Inc. grew its position in American Healthcare REIT by 29.0% in the fourth quarter. Principal Financial Group Inc. now owns 12,238,887 shares of the company’s stock worth $347,831,000 after acquiring an additional 2,750,137 shares during the period. Deutsche Bank AG increased its stake in American Healthcare REIT by 2.3% during the fourth quarter. Deutsche Bank AG now owns 4,310,788 shares of the company’s stock worth $122,513,000 after acquiring an additional 94,925 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of American Healthcare REIT by 46.4% in the 4th quarter. Geode Capital Management LLC now owns 3,699,793 shares of the company’s stock valued at $105,171,000 after purchasing an additional 1,172,670 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in shares of American Healthcare REIT by 13.6% during the 4th quarter. Prudential Financial Inc. now owns 3,521,182 shares of the company’s stock worth $100,072,000 after purchasing an additional 422,869 shares during the last quarter. Hedge funds and other institutional investors 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.