AHR
American Healthcare REIT, Inc.47.62
+0.42+0.89%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Acquisition details, revenue tool pilots
Q&A unpacked acquisition tactics, emphasizing higher-acuity SHOP assets bought at high-5s/low-6s cap rates—stabilizing in 7s—often newer, undermanaged properties turned by experienced regional operators. Trilogy's proprietary revenue management platform is piloting with other SHOP partners, fueled by LTIP paid in AHR stock; early results target high-occupancy or low-rate assets. SHOP growth eases to 17% midpoint after 250bps occupancy gains, but pricing power surges at 90%+. Competition rises, yet half the $230M pipeline is off-market. No contradictions; management confidently addressed deceleration queries. Pipeline robust despite rivals. Investors watch capital deployment, tool leverage.
Key Stats
Market Cap
8.87BP/E (TTM)
396.83Basic EPS (TTM)
0.12Dividend Yield
0.02%Recent Filings
8-K
8-K
New $1.75B ATM program
American Healthcare REIT entered a new $1.75 billion at-the-market equity offering program on February 27, 2026, with top-tier agents like BofA and Barclays, terminating its prior program with $230 million unsold. Shares can sell via agents or forwards, netting up to 2% commissions. Proceeds fund debt repayment and investments. New shelf firepower unlocked.
10-K
FY2025 results
American Healthcare REIT capped FY2025 with portfolio expansion to 337 properties generating $454M annualized base rent/NOI, up from $4.5B contract value in 2024, fueled by $1B+ in senior housing buys across ISHC (now 55.5% of NOI) and SHOP while OM dipped via sales. Q4 momentum shone in resident fees jumping to $2.1B yearly (vs $1.9B 2024) on occupancy gains to 90% ISHC/89.5% SHOP, though labor inflation crimped margins to 86.6%/80.6%. Debt fell to $1.5B (all variable hedged), FFO hit $293M. Q4 accelerated growth. Tenant insolvencies loom large.
8-K
Q4 NFFO $0.46; 2026 guide issued
American Healthcare REIT reported Q4 GAAP net income of $10.8M ($0.06/share) and full-year $69.8M ($0.42/share), with NFFO at $0.46/share quarterly and $1.72 yearly. Same-Store NOI surged 11.8% in Q4 and 14.2% yearly, powered by 24.6%/25.2% SHOP gains, after $950M in ISHC/SHOP buys. Issues 2026 NFFO guidance of $1.99-$2.05/share; net debt improved to 3.4x. Strong ops fuel growth.
8-K
CEO on medical leave
IPO
Employees
Sector
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