BofA Raises Target on Shares of American Healthcare REIT, Maintains Buy Rating Via Investing.com
On Tuesday, BofA Securities updated its price target on American Healthcare REIT, Inc (NYSE:AHR), raising it to $27 from the previous $19 while maintaining a buy rating on the stock. This adjustment follows recent meetings of the company's management and senior executives.
Meetings took place in Boston and Chicago last week, involving AHR CEO Danny Prosky, CFO Brian Peay, COO Gabe Willhite, and VP IR & Finance Alan Peterson. These discussions provided BofA Securities with a deeper understanding of the company's internal growth potential, the strength of Trilogy's platform, and external growth opportunities.
The company expressed a positive outlook for the company's future, highlighting the anticipated benefits of the Trilogy platform to AHR's overall operations. A BofA Securities analyst noted that these components could lead to a stock review as investors become more informed about the company's prospects.
In addition, the analyst suggested that with increased investor awareness, American Healthcare REIT could achieve higher Adjusted Funds From Operations (AFFO) compared to its peers, such as Company Ventas Inc (NYSE:). This optimism is based on perceived profitability from the company's strategic plans and growth opportunities.
In other recent news, American Healthcare REIT has experienced several notable developments. Truist Securities recently adjusted its price target for the company to $17, from $16, while maintaining a buy rating. The revised target price reflects a potential return of around 24%, indicating confidence in the company's growth prospects. This is despite the company maintaining Funds from Operations (FFO) estimates for 2024 and 2025.
Analysts from various firms, including Barclays Capital Inc., JMP Securities, KeyBanc, and RBC Capital Markets, have given American Healthcare REIT an Overweight rating, highlighting the company's strategic position in the healthcare real estate market as a potential driver of Net Operating Income (NOI) growth. The company's same-store cash flow (SSNOI) growth is also ahead of expectations, which could lead to an increase in Net Funds From Operations (NFFO) guidance for 2024.
In addition to these events, American Healthcare REIT announced the date of its 2024 annual shareholder meeting and the deadline for shareholder proposals. The company's board of directors established November 7, 2024, as the date of the next annual meeting and set a new deadline for shareholder proposals.
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