KeyBanc analyst Austin Wurschmidt lowered the firm’s price target on American Healthcare REIT (AHR) to $34 from $35 and keeps an Overweight rating on the shares after hosting meetings and a property tour with the company and its largest operator Trilogy in Louisville. The firm came away with its thesis intact around the near- to medium-term growth opportunity within its long-term care operating businesses, as well as investment opportunities that lie ahead. While KeyBanc sees upside to management’s 2025 guidance from continued execution around internal growth, external investments, and balance sheet management, the firm is dialing back its 2025 and 2026 estimates.
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