Bank of New York Mellon Corp Sells 7,424 Shares of American Healthcare REIT, Inc. (NYSE:AHR)

Bank of New York Mellon Corp lessened its stake in American Healthcare REIT, Inc. (NYSE:AHR) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 721,429 shares of the company’s stock after selling 7,424 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.46% of American Healthcare REIT worth $21,859,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Wolff Wiese Magana LLC purchased a new position in American Healthcare REIT in the first quarter worth $25,000. MassMutual Private Wealth & Trust FSB raised its stake in American Healthcare REIT by 189.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 968 shares of the company’s stock worth $29,000 after buying an additional 633 shares in the last quarter. Spirit of America Management Corp NY bought a new position in American Healthcare REIT in the first quarter worth about $30,000. Continuum Advisory LLC bought a new position in shares of American Healthcare REIT during the first quarter valued at approximately $37,000. Finally, Tsfg LLC bought a new position in shares of American Healthcare REIT during the first quarter valued at approximately $41,000. Institutional investors own 16.68% of the company’s stock.

Insider Buying and Selling at American Healthcare REIT

In other news, CIO Stefan K.L. Oh sold 3,860 shares of American Healthcare REIT stock in a transaction on Monday, June 30th. The shares were sold at an average price of $36.10, for a total value of $139,346.00. Following the transaction, the executive directly owned 95,671 shares of the company’s stock, valued at $3,453,723.10. The trade was a 3.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.92% of the company’s stock.

American Healthcare REIT Price Performance

American Healthcare REIT stock opened at $37.28 on Friday. American Healthcare REIT, Inc. has a 12-month low of $14.79 and a 12-month high of $37.69. The stock has a market cap of $5.95 billion, a P/E ratio of -138.06, a PEG ratio of 2.10 and a beta of 1.09. The company has a 50-day moving average price of $35.64 and a 200 day moving average price of $31.49. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.45.

American Healthcare REIT (NYSE:AHR) last announced its earnings results on Thursday, May 8th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.01. American Healthcare REIT had a negative net margin of 1.96% and a negative return on equity of 1.85%. The company had revenue of $540.60 million during the quarter, compared to analyst estimates of $542.32 million. During the same quarter last year, the firm posted $0.30 earnings per share. American Healthcare REIT’s revenue was up 8.2% compared to the same quarter last year. Sell-side analysts anticipate that American Healthcare REIT, Inc. will post 1.41 earnings per share for the current year.

American Healthcare REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Monday, June 30th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 2.68%. American Healthcare REIT’s dividend payout ratio is presently -370.37%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AHR. KeyCorp raised their target price on shares of American Healthcare REIT from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, June 11th. Truist Financial lifted their price target on shares of American Healthcare REIT from $32.00 to $38.00 and gave the company a “buy” rating in a report on Monday, June 9th. Jefferies Financial Group initiated coverage on shares of American Healthcare REIT in a research note on Monday, April 28th. They issued a “buy” rating and a $37.00 price objective for the company. Morgan Stanley lifted their price target on shares of American Healthcare REIT from $37.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 20th. Finally, Scotiabank initiated coverage on shares of American Healthcare REIT in a report on Monday, June 30th. They set a “sector outperform” rating and a $42.00 price objective for the company. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, American Healthcare REIT presently has a consensus rating of “Buy” and an average target price of $37.75.

American Healthcare REIT 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.