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AHR

American Healthcare REIT, Inc.

AHR

American Healthcare REIT, Inc. • NYSE
$50.78 ▲ 0.55% (+0.28)
Market Cap $8.98 B
52w High $50.91
52w Low $26.40
Dividend Yield 1.00%
P/E 423.17
Volume 763.50K
Outstanding Shares 176.90M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $572.937M ▲ $75.931M ▲ $55.927M ▲ 9.761% ▲ $0.33 ▲ $84.728M ▼
Q2-2025 $542.503M ▲ $69.874M ▲ $9.908M ▲ 1.826% ▲ $0.062 ▲ $84.781M ▲
Q1-2025 $540.603M ▼ $67.912M ▼ $-6.804M ▲ -1.259% ▲ $-0.043 ▲ $67.639M ▲
Q4-2024 $542.74M ▲ $72.018M ▲ $-31.773M ▼ -5.854% ▼ $-0.21 ▼ $55.419M ▼
Q3-2024 $523.814M $69.317M $-4.126M -0.788% $-0.031 $81.465M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $147.364M ▲ $4.77B ▲ $2.05B ▲ $2.678B ▲
Q2-2025 $133.494M ▲ $4.507B ▲ $2.044B ▼ $2.421B ▲
Q1-2025 $86.064M ▲ $4.464B ▼ $2.159B ▼ $2.262B ▲
Q4-2024 $76.702M ▲ $4.488B ▼ $2.184B ▼ $2.261B ▲
Q3-2024 $67.85M $4.677B $2.42B $2.207B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $56.639M ▲ $107.185M ▲ $-278.457M ▼ $185.691M ▲ $14.372M ▼ $155.262M ▲
Q2-2025 $10.079M ▲ $71.475M ▲ $-62.086M ▼ $33.124M ▲ $42.538M ▲ $44.579M ▲
Q1-2025 $-6.84M ▲ $60.616M ▲ $-32.776M ▼ $-23.776M ▲ $4.152M ▼ $39.435M ▲
Q4-2024 $-32.429M ▼ $59.509M ▼ $87.207M ▲ $-139.982M ▼ $6.629M ▼ $29.825M ▼
Q3-2024 $-3.093M $63.13M $-30.407M $-13.696M $19.07M $39.249M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Resident Fees and Services
Resident Fees and Services
 $950.00M ▲$500.00M ▼$500.00M ▲$530.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been rising steadily over the past several years, showing that the portfolio is growing and generally well‑utilized. Profitability at the operating level has improved, with better margins than in earlier years, helped by scale and tighter cost control. However, the company still reports net losses, even though those losses have been shrinking over time, suggesting gradual movement toward break‑even rather than firmly established profitability. Overall, the income statement tells a story of a growing platform that is not yet consistently profitable under standard accounting metrics.

Balance Sheet

Balance Sheet The balance sheet is anchored by a sizable base of healthcare real estate assets, which is typical for a specialized REIT. Debt levels are still meaningful but have come down compared with prior years, while equity has increased, which points to a healthier capital structure and some deleveraging. Cash on hand is relatively modest, implying continued reliance on ongoing cash generation and capital markets access to fund growth and refinancing needs. In general, the balance sheet looks stronger than a few years ago, but the business remains capital‑intensive and sensitive to financing conditions.

Cash Flow

Cash Flow The company has been able to generate positive cash from its day‑to‑day operations in most years, with a noticeable improvement recently. After accounting for spending on properties and improvements, free cash flow has hovered around break‑even but has turned more consistently positive of late. This pattern suggests the portfolio is starting to better cover its investment needs, though the margin for error is not large. Sustaining and growing this cash flow, especially through cycles in occupancy, rates, and funding costs, is an important watchpoint.

Competitive Edge

Competitive Edge American Healthcare REIT operates in a niche within healthcare real estate, focusing on integrated senior health campuses that offer multiple levels of care on a single site. This “continuum of care” model can create stickier relationships with residents, better utilization of facilities, and a stronger local presence. The deep partnership and now full ownership of Trilogy Health Services gives AHR direct influence over operations, which can be an advantage versus landlords who only collect fixed rents. At the same time, the company faces the usual pressures of the sector: staffing challenges, healthcare regulation, reimbursement dynamics, and competition for attractive locations, all in a market where scale and operational know‑how matter a great deal.

Innovation and R&D

Innovation and R&D While this is not a traditional research‑heavy business, AHR is innovating in how it operates and prices its facilities. It is leaning on data‑driven revenue management, using information about occupancy and local markets to fine‑tune pricing and improve revenue per resident. Operational systems appear focused on cost discipline and staffing optimization, which can support margins if executed well. Future efforts around telehealth, remote monitoring, predictive analytics, and smart buildings could further differentiate the platform, but these remain areas to track rather than fully proven profit drivers at this stage.

Summary

American Healthcare REIT shows a clear growth pattern in revenue and improving underlying operating performance, but it is still reporting accounting losses and operates with a leveraged, capital‑heavy balance sheet. The integrated senior campus model, supported by the Trilogy platform, provides a distinct strategic angle and could offer durable advantages in resident retention and operational control. Cash generation has been moving in the right direction, though with a relatively thin buffer after investment needs. Overall, the company looks like a scaling healthcare REIT with a differentiated model and better fundamentals than a few years ago, but with ongoing execution, financing, and regulatory risks that are typical for this sector and its stage of development as a newly public entity.

NEWS

November 20, 2025 · 11:05 PM UTC

American Healthcare REIT Announces Pricing of Public Offering of Common Stock

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November 20, 2025 · 4:01 PM UTC

American Healthcare REIT Announces Public Offering of Common Stock

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November 6, 2025 · 4:15 PM UTC

American Healthcare REIT ("AHR") Announces Third Quarter 2025 Results; Increases Full Year 2025 Guidance

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October 1, 2025 · 4:15 PM UTC

American Healthcare REIT Announces Dates for Third Quarter 2025 Earnings Release and Conference Call

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September 18, 2025 · 4:15 PM UTC

American Healthcare REIT Declares Third Quarter 2025 Distribution

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