American Healthcare REIT price target raised to $40 from $34 at KeyBanc

KeyBanc analyst Austin Wurschmidt raised the firm’s price target on American Healthcare REIT (AHR) to $40 from $34 and keeps an Overweight rating on the shares. Following recent meetings with management and Q1 earnings, the firm views American Healthcare REIT as remaining in an attractive position to capitalize on strong long-term care fundamentals. With the summer selling season in senior housing largely underway, and management striking an upbeat tone around the core fundamentals of the business, American Healthcare REIT’s operators appear poised to drive value by utilizing various levers to drive NOI, KeyBanc adds. The company should also benefit from its improving cost of capital and a growing pipeline of opportunities, which should lead to accretive, external growth investments in its RIDEA portfolio.