BUZZ-American Healthcare REIT falls on share offering

Bank Of America
American Healthcare

Bank Of America

BAC

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American Healthcare

AHR

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** Shares of American Healthcare REIT AHR.N down 2.4% at $50.45 in extended trading as it seeks equity raise

** Senior housing and skilled nursing facilities operator launches 14 mln share offering on a forward basis

** AHR expects to enter into 24-month forward sale agreement with underwriter BofA

** Upon settlement of agreement, co anticipates to use net offering proceeds for general purposes, including potential future investments

** Irvine, California-based AHR has ~192.7 mln shares outstanding as of May 18, per the prospectus

** AHR stock finished up 1.7% at $51.68 on Weds, up 10% YTD

** 12 of 13 analysts rate the stock "strong buy" or "buy", 1 "hold"; median PT $59, per LSEG data