American Healthcare REIT’s (AHR) “Outperform” Rating Reaffirmed at Royal Bank of Canada

American Healthcare REIT (NYSE:AHR)‘s stock had its “outperform” rating reiterated by equities research analysts at Royal Bank of Canada in a research note issued on Wednesday,Benzinga reports. They currently have a $34.00 price target on the stock. Royal Bank of Canada’s price target points to a potential upside of 16.04% from the stock’s current price.

A number of other equities analysts also recently commented on AHR. JMP Securities set a $35.00 target price on shares of American Healthcare REIT in a research note on Tuesday, March 4th. Citigroup reaffirmed an “outperform” rating on shares of American Healthcare REIT in a research note on Tuesday, March 4th. Finally, Morgan Stanley lifted their target price on shares of American Healthcare REIT from $27.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, December 30th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, American Healthcare REIT has an average rating of “Buy” and an average target price of $30.83.

American Healthcare REIT Price Performance

Shares of NYSE:AHR traded down $0.10 during midday trading on Wednesday, hitting $29.30. The company’s stock had a trading volume of 84,182 shares, compared to its average volume of 1,606,617. The business’s 50 day simple moving average is $28.64 and its 200 day simple moving average is $27.16. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market cap of $4.62 billion and a P/E ratio of -61.15. American Healthcare REIT has a 12-month low of $12.81 and a 12-month high of $30.97.

Institutional Investors Weigh In On American Healthcare REIT

A number of large investors have recently modified their holdings of AHR. Vanguard Group Inc. increased its position in shares of American Healthcare REIT by 94.8% in the 4th quarter. Vanguard Group Inc. now owns 15,357,331 shares of the company’s stock valued at $436,455,000 after purchasing an additional 7,474,374 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of American Healthcare REIT by 54.1% in the 3rd quarter. Principal Financial Group Inc. now owns 9,488,750 shares of the company’s stock valued at $247,654,000 after purchasing an additional 3,330,714 shares during the last quarter. Wellington Management Group LLP increased its position in shares of American Healthcare REIT by 25.7% in the 3rd quarter. Wellington Management Group LLP now owns 13,445,752 shares of the company’s stock valued at $350,934,000 after purchasing an additional 2,747,960 shares during the last quarter. State Street Corp grew its position in shares of American Healthcare REIT by 221.6% in the 3rd quarter. State Street Corp now owns 3,683,691 shares of the company’s stock valued at $96,473,000 after buying an additional 2,538,177 shares during the last quarter. Finally, FMR LLC purchased a new position in shares of American Healthcare REIT in the 3rd quarter valued at $56,575,000. 16.68% of the stock is owned by hedge funds and other institutional investors.

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.