State of New Jersey Common Pension Fund D Takes $1.23 Million Position in American Healthcare REIT, Inc. (NYSE:AHR)

State of New Jersey Common Pension Fund D purchased a new position in shares of American Healthcare REIT, Inc. (NYSE:AHR) during the second quarter, HoldingsChannel reports. The firm purchased 84,000 shares of the company’s stock, valued at approximately $1,227,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AHR. Principal Financial Group Inc. acquired a new position in shares of American Healthcare REIT during the first quarter worth approximately $88,504,000. Centersquare Investment Management LLC acquired a new position in American Healthcare REIT during the first quarter worth $63,269,000. V3 Capital Management L.P. acquired a new position in American Healthcare REIT during the first quarter worth $42,337,000. Goldentree Asset Management LP bought a new position in shares of American Healthcare REIT in the first quarter valued at $22,125,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of American Healthcare REIT during the first quarter valued at about $20,381,000. Institutional investors own 16.68% of the company’s stock.

American Healthcare REIT Price Performance

Shares of American Healthcare REIT stock opened at $26.45 on Thursday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.60. American Healthcare REIT, Inc. has a 1 year low of $12.63 and a 1 year high of $26.77. The company has a 50 day simple moving average of $20.02 and a two-hundred day simple moving average of $16.33.

American Healthcare REIT (NYSE:AHR) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.28). The firm had revenue of $504.60 million for the quarter, compared to analysts’ expectations of $506.55 million. American Healthcare REIT had a negative net margin of 1.99% and a negative return on equity of 2.20%. American Healthcare REIT’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, research analysts anticipate that American Healthcare REIT, Inc. will post 1.29 earnings per share for the current fiscal year.

American Healthcare REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, September 20th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Friday, September 20th.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Bank of America boosted their price objective on American Healthcare REIT from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday. JMP Securities upped their price target on American Healthcare REIT from $18.00 to $30.00 and gave the stock a “market outperform” rating in a report on Friday, September 20th. Truist Financial raised their price objective on American Healthcare REIT from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Morgan Stanley upped their target price on shares of American Healthcare REIT from $17.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, KeyCorp raised their price target on shares of American Healthcare REIT from $16.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

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.