American Healthcare REIT (NYSE:AHR) Price Target Raised to $29.00

American Healthcare REIT (NYSE:AHR) had its price objective lifted by equities research analysts at Truist Financial from $27.00 to $29.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 8.86% from the company’s previous close.

AHR has been the subject of several other reports. Bank of America raised their price objective on shares of American Healthcare REIT from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. KeyCorp lifted their price target on American Healthcare REIT from $16.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Colliers Securities upgraded American Healthcare REIT from a “hold” rating to a “moderate buy” rating in a research report on Sunday, October 13th. JMP Securities lifted their target price on American Healthcare REIT from $18.00 to $30.00 and gave the stock a “market outperform” rating in a report on Friday, September 20th. Finally, Morgan Stanley upped their price target on shares of American Healthcare REIT from $17.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.25.

American Healthcare REIT Stock Performance

AHR traded up $0.42 during trading hours on Friday, reaching $26.64. The company’s stock had a trading volume of 116,823 shares, compared to its average volume of 1,449,861. The company’s 50-day moving average is $25.16 and its 200-day moving average is $19.21. American Healthcare REIT has a 52 week low of $12.63 and a 52 week high of $27.77. The firm has a market cap of $3.51 billion and a PE ratio of -55.23. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.29 and a current ratio of 0.29.

American Healthcare REIT (NYSE:AHR) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.35). The company had revenue of $523.81 million during the quarter, compared to analyst estimates of $474.26 million. American Healthcare REIT had a negative net margin of 1.84% and a negative return on equity of 1.96%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, equities analysts forecast that American Healthcare REIT will post 1.41 EPS for the current year.

Hedge Funds Weigh In On American Healthcare REIT

Several hedge funds and other institutional investors have recently modified their holdings of the business. Centiva Capital LP acquired a new stake in shares of American Healthcare REIT in the 3rd quarter valued at approximately $535,000. Benjamin Edwards Inc. bought a new position in American Healthcare REIT in the 3rd quarter valued at approximately $351,000. Atom Investors LP acquired a new stake in American Healthcare REIT in the third quarter valued at approximately $2,041,000. Verition Fund Management LLC grew its stake in shares of American Healthcare REIT by 56.8% during the third quarter. Verition Fund Management LLC now owns 237,914 shares of the company’s stock worth $6,210,000 after buying an additional 86,230 shares during the last quarter. Finally, Captrust Financial Advisors bought a new stake in shares of American Healthcare REIT during the third quarter worth $753,000. Institutional investors own 16.68% of the company’s stock.

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.