Harbour Investments Inc. Cuts Holdings in American Healthcare REIT, Inc. (NYSE:AHR)

Key Points

• Harbour Investments Inc. reduced its stake in American Healthcare REIT by 32.1% in the first quarter, resulting in ownership of 13,173 shares valued at approximately $399,000.
• A quarterly dividend of $0.25 was recently announced, providing a dividend yield of 2.5% for shareholders of record on June 30th.
• Analyst reports indicate a positive outlook for American Healthcare REIT, with ten analysts rating it a "buy" and an average price target of $38.11.

Harbour Investments Inc. lowered its stake in shares of American Healthcare REIT, Inc. (NYSE:AHR - Free Report) by 32.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,173 shares of the company's stock after selling 6,241 shares during the period. Harbour Investments Inc.'s holdings in American Healthcare REIT were worth $399,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Wolff Wiese Magana LLC purchased a new stake in shares of American Healthcare REIT during the 1st quarter worth $25,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of American Healthcare REIT by 189.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 968 shares of the company's stock valued at $29,000 after buying an additional 633 shares during the last quarter. Spirit of America Management Corp NY bought a new stake in shares of American Healthcare REIT in the 1st quarter valued at about $30,000. Continuum Advisory LLC purchased a new position in shares of American Healthcare REIT in the 1st quarter worth approximately $37,000. Finally, Tsfg LLC bought a new position in shares of American Healthcare REIT during the 1st quarter worth approximately $41,000. Institutional investors own 16.68% of the company's stock.

Insider Activity at American Healthcare REIT

In other news, CIO Stefan K.L. Oh sold 3,860 shares of the 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 sale, the executive owned 95,671 shares in the company, valued at $3,453,723.10. This 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 through the SEC website. 0.92% of the stock is owned by company insiders.

American Healthcare REIT Stock Performance

AHR traded down $0.43 on Wednesday, reaching $39.63. 1,515,967 shares of the stock were exchanged, compared to its average volume of 1,077,971. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.38 and a quick ratio of 0.38. The company's 50-day moving average price is $36.66 and its 200 day moving average price is $32.50. The firm has a market capitalization of $6.32 billion, a PE ratio of -146.76, a PEG ratio of 2.25 and a beta of 1.08. American Healthcare REIT, Inc. has a fifty-two week low of $16.29 and a fifty-two week high of $40.56.

American Healthcare REIT (NYSE:AHR - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.01. The firm had revenue of $540.60 million during the quarter, compared to analysts' expectations of $542.32 million. American Healthcare REIT had a negative return on equity of 1.85% and a negative net margin of 1.96%. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the business posted $0.30 earnings per share. As a group, sell-side analysts forecast that American Healthcare REIT, Inc. will post 1.41 EPS for the current fiscal year.

American Healthcare REIT Announces Dividend

The firm 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 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, June 30th. American Healthcare REIT's dividend payout ratio is -370.37%.

Analysts Set New Price Targets

Several brokerages have weighed in on AHR. Robert W. Baird started coverage on shares of American Healthcare REIT in a research note on Friday, July 18th. They issued an "outperform" rating and a $41.00 target price for the company. Truist Financial raised their price objective on American Healthcare REIT from $32.00 to $38.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Jefferies Financial Group began coverage on American Healthcare REIT in a research report on Monday, April 28th. They set a "buy" rating and a $37.00 target price on the stock. Baird R W upgraded American Healthcare REIT to a "strong-buy" rating in a research note on Thursday, July 17th. Finally, Scotiabank started coverage on American Healthcare REIT in a research note on Monday, June 30th. They set a "sector outperform" rating and a $42.00 price target on the stock. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $38.11.

About American Healthcare REIT

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.