Envestnet Asset Management Inc. Cuts Stake in American Healthcare REIT, Inc. (NYSE:AHR)

Envestnet Asset Management Inc. reduced its stake in American Healthcare REIT, Inc. (NYSE:AHR) by 5.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 302,843 shares of the company’s stock after selling 17,336 shares during the quarter. Envestnet Asset Management Inc. owned 0.19% of American Healthcare REIT worth $9,176,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Aurora Private Wealth Inc. bought a new stake in American Healthcare REIT in the 1st quarter valued at about $1,866,000. Principal Financial Group Inc. increased its position in shares of American Healthcare REIT by 1.1% during the first quarter. Principal Financial Group Inc. now owns 12,373,709 shares of the company’s stock valued at $374,923,000 after buying an additional 134,822 shares during the period. Mutual Advisors LLC increased its position in shares of American Healthcare REIT by 6.4% during the first quarter. Mutual Advisors LLC now owns 10,603 shares of the company’s stock valued at $330,000 after buying an additional 640 shares during the period. J.Safra Asset Management Corp increased its position in shares of American Healthcare REIT by 20.7% during the first quarter. J.Safra Asset Management Corp now owns 5,791 shares of the company’s stock valued at $175,000 after buying an additional 992 shares during the period. Finally, Ameritas Advisory Services LLC increased its position in shares of American Healthcare REIT by 7.4% during the first quarter. Ameritas Advisory Services LLC now owns 13,512 shares of the company’s stock valued at $396,000 after buying an additional 931 shares during the period. 16.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Healthcare REIT

In related news, CIO Stefan K.L. Oh sold 3,860 shares of the firm’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $36.10, for a total transaction of $139,346.00. Following the sale, the executive directly owned 95,671 shares of the company’s stock, valued at $3,453,723.10. This trade represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

American Healthcare REIT Price Performance

AHR opened at $37.86 on Tuesday. The business has a fifty day moving average of $35.76 and a 200 day moving average of $31.67. American Healthcare REIT, Inc. has a 52-week low of $14.79 and a 52-week high of $38.24. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.45. The stock has a market cap of $6.04 billion, a P/E ratio of -140.22, a PEG ratio of 2.13 and a beta of 1.09.

American Healthcare REIT (NYSE:AHR) last issued 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 return on equity of 1.85% and a negative net margin of 1.96%. The business had revenue of $540.60 million during the quarter, compared to analysts’ expectations of $542.32 million. During the same period in the prior year, the business earned $0.30 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that American Healthcare REIT, Inc. will post 1.41 EPS for the current year.

American Healthcare REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Monday, June 30th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Monday, June 30th. American Healthcare REIT’s dividend payout ratio is presently -370.37%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AHR shares. Baird R W upgraded American Healthcare REIT to a “strong-buy” rating in a research report on Thursday, July 17th. KeyCorp upped their price objective on shares of American Healthcare REIT from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 11th. Morgan Stanley upped their price objective on shares of American Healthcare REIT from $37.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 20th. Jefferies Financial Group started coverage on shares of American Healthcare REIT in a research report on Monday, April 28th. They issued a “buy” rating and a $37.00 price objective on the stock. Finally, Robert W. Baird started coverage on shares of American Healthcare REIT in a research report on Friday. They issued an “outperform” rating and a $41.00 price objective on the stock. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $38.11.

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.