Sumitomo Mitsui Trust Group Inc. Cuts Stock Holdings in American Healthcare REIT, Inc. (NYSE:AHR)

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of American Healthcare REIT, Inc. (NYSE:AHR) by 0.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 326,727 shares of the company’s stock after selling 1,338 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of American Healthcare REIT worth $9,900,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Kingswood Wealth Advisors LLC purchased a new position in shares of American Healthcare REIT during the first quarter valued at approximately $332,000. Bank of New York Mellon Corp lifted its holdings in American Healthcare REIT by 139.7% during the fourth quarter. Bank of New York Mellon Corp now owns 728,853 shares of the company’s stock worth $20,714,000 after acquiring an additional 424,773 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in American Healthcare REIT by 12.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,145,125 shares of the company’s stock worth $60,964,000 after acquiring an additional 237,139 shares during the period. Wells Fargo & Company MN lifted its holdings in American Healthcare REIT by 59.1% during the fourth quarter. Wells Fargo & Company MN now owns 179,544 shares of the company’s stock worth $5,103,000 after acquiring an additional 66,675 shares during the period. Finally, Norges Bank bought a new stake in American Healthcare REIT during the fourth quarter worth $19,339,000. Hedge funds and other institutional investors own 16.68% of the company’s stock.

Insider Activity

In other news, CIO Stefan K.L. Oh sold 3,860 shares of the company’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $36.10, for a total value of $139,346.00. Following the completion of the transaction, the executive directly owned 95,671 shares in the company, valued at approximately $3,453,723.10. This represents a 3.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.92% of the company’s stock.

American Healthcare REIT Price Performance

Shares of NYSE AHR opened at $37.23 on Friday. The firm has a market capitalization of $5.94 billion, a P/E ratio of -137.87, a P/E/G ratio of 2.04 and a beta of 1.09. 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’s 50-day simple moving average is $34.70 and its two-hundred day simple moving average is $30.89. American Healthcare REIT, Inc. has a twelve month low of $14.79 and a twelve month high of $37.25.

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 analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $542.32 million. During the same period in the prior year, the company earned $0.30 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts anticipate that American Healthcare REIT, Inc. will post 1.41 EPS for the current fiscal year.

American Healthcare REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Monday, June 30th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Monday, June 30th. American Healthcare REIT’s payout ratio is currently -370.37%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Scotiabank assumed coverage on American Healthcare REIT in a research note on Monday. They issued a “sector outperform” rating and a $42.00 target price on the stock. Morgan Stanley boosted their price objective on American Healthcare REIT from $37.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, May 20th. Truist Financial boosted their price objective on American Healthcare REIT from $32.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, June 9th. Royal Bank Of Canada reiterated an “outperform” rating and set a $34.00 price objective on shares of American Healthcare REIT in a research note on Wednesday, March 19th. Finally, Jefferies Financial Group started coverage on American Healthcare REIT in a research note on Monday, April 28th. They set a “buy” rating and a $37.00 price objective on the stock. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, American Healthcare REIT currently has an average rating of “Buy” and a consensus 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.