Royal Bank of Canada Reiterates Outperform Rating for American Healthcare REIT (NYSE:AHR)

American Healthcare REIT (NYSE:AHR)‘s stock had its “outperform” rating reiterated by analysts at Royal Bank of Canada in a research note issued on Wednesday,Benzinga reports. They currently have a $34.00 price objective on the stock. Royal Bank of Canada’s target price indicates a potential upside of 13.88% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Morgan Stanley upped their price target on shares of American Healthcare REIT from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, December 30th. JMP Securities set a $35.00 price target on shares of American Healthcare REIT in a report on Tuesday, March 4th. Finally, Citigroup reaffirmed an “outperform” rating on shares of American Healthcare REIT in a report on Tuesday, March 4th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $30.83.

American Healthcare REIT Stock Down 0.9 %

Shares of NYSE AHR opened at $29.86 on Wednesday. American Healthcare REIT has a 12-month low of $12.81 and a 12-month high of $30.97. The company has a market capitalization of $4.70 billion and a PE ratio of -62.20. 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 firm’s 50-day moving average is $28.71 and its two-hundred day moving average is $27.20.

Hedge Funds Weigh In On American Healthcare REIT

Several institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. purchased a new position in American Healthcare REIT during the third quarter worth approximately $437,000. KBC Group NV purchased a new position in American Healthcare REIT during the third quarter worth approximately $51,000. Swiss National Bank raised its stake in American Healthcare REIT by 126.6% during the third quarter. Swiss National Bank now owns 291,400 shares of the company’s stock worth $7,606,000 after purchasing an additional 162,800 shares during the period. Prospera Financial Services Inc purchased a new position in American Healthcare REIT during the third quarter worth approximately $488,000. Finally, Avior Wealth Management LLC purchased a new position in American Healthcare REIT during the third quarter worth approximately $65,000. Hedge funds and other 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.