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AHR logoAmerican Healthcare REIT, Inc.(AHR)Earnings, Financials & Key Ratios

AHR•NYSE•REIT / Real Estate
$49.68
$8.5B mkt cap·Price updated May 6, 2026
SectorReal EstateIndustryHealthcare REITsSub-IndustryDiversified healthcare real estate
AboutFormed by the successful merger of Griffin-American Healthcare REIT III and Griffin-American Healthcare REIT IV, as well as the acquisition of the business and operations of American Healthcare Investors, American Healthcare REIT is one of the larger healthcare-focused real estate investment trusts globally with assets totaling approximately $4.2 billion in gross investment value. The company benefits from a fully integrated management platform comprised of more than one hundred experienced and skilled professionals, many of whom have worked together since 2006 and have successfully invested in and managed healthcare real estate through multiple market cycles. The management team has a proven track record, deep industry relationships and unparalleled insight into each of the company's assets having built and nurtured the company's international portfolio since its original property acquisition in 2014. The strength of the management team, coupled with the quality of the assets, has American Healthcare REIT poised to capitalize on compelling growth driven by powerful demographic trends. With its 19 million-square-foot, 312-building portfolio of medical office buildings, senior housing communities, skilled nursing facilities and integrated senior health campuses diversified across 36 states and the United Kingdom, the tri-party transaction was a critical step in ideally positioning American Healthcare REIT for a future public listing or IPO on a national stock exchange at the most opportune time. By listing the company's shares on a national exchange, we believe the company will gain greater access to attractive capital that will fuel future growth, broaden our investor base and also provide liquidity to our fellow stockholders. American Healthcare REIT, Inc. operates as a subsidiary of Griffin Capital Company, LLC.Show more
  • Revenue$2.07B+11.4%
  • FFO$184M+10.9%
  • FFO/Share1.41-44.0%
  • FFO Payout65.77%+43.0%
  • FFO per Share1.41-44.0%
  • NOI Margin20.13%+4.9%
  • FFO Margin8.88%-0.5%
  • ROE-2.01%+56.3%
  • ROA-0.83%+45.3%
  • Debt/Assets41.68%-36.8%
  • Net Debt/EBITDA5.01-47.2%
  • Book Value/Share17.64-20.2%
Technical→

AHR Key Insights

American Healthcare REIT, Inc. (AHR) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 7/9
  • ✓FFO growing 28.7% TTM
  • ✓Sustainable FFO payout ratio of 65.8%

✗Weaknesses

  • ✗Low NOI margin of 20.1%
  • ✗Shares diluted 97.8% in last year

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

AHR Price & Volume

American Healthcare REIT, Inc. (AHR) stock price & volume — 10-year historical chart

Loading chart...

AHR Growth Metrics

American Healthcare REIT, Inc. (AHR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years11.14%
3 Years17.89%
TTM9.37%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM181.45%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM129.19%

Return on Capital

10 Years4.75%
5 Years3.44%
3 Years2.85%
Last Year4.11%

AHR Recent Earnings

American Healthcare REIT, Inc. (AHR) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 0/12 qtrs (0%)●Beat Revenue 4/12 qtrs (44%)
Q1 2026Latest
Feb 26, 2026
EPS
$0.06
Est $0.15
-61.3%
Revenue
$604M
Est $609M
-0.9%
Q4 2025
Nov 6, 2025
EPS
$0.33
Est $0.42
-21.4%
Revenue
$573M
Est $615M
-6.9%
Q3 2025
Aug 7, 2025
EPS
$0.06
Est $0.40
-85.0%
Revenue
$543M
Est $553M
-1.9%
Q2 2025
May 8, 2025
EPS
$0.04
Est $0.37
-110.8%
Revenue
$541M
Est $541M
-0.1%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 26, 2026
$0.06vs $0.15-61.3%
$604Mvs $609M-0.9%
Q4 2025Nov 6, 2025
$0.33vs $0.42-21.4%
$573Mvs $615M-6.9%
Q3 2025Aug 7, 2025
$0.06vs $0.40-85.0%
$543Mvs $553M-1.9%
Q2 2025May 8, 2025
$0.04vs $0.37-110.8%
$541Mvs $541M-0.1%
Based on last 12 quarters of dataView full earnings history →

AHR Peer Comparison

American Healthcare REIT, Inc. (AHR) competitors in Diversified healthcare real estate — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
WELL logoWELLWelltower Inc.Direct Competitor150.14B214.30154.1735.82%12.31%3.49%1.9%0.49
VTR logoVTRVentas, Inc.Direct Competitor41.26B86.78160.7018.47%4.25%2.08%3.19%1.05
HR logoHRHealthcare Realty Trust IncorporatedDirect Competitor6.95B19.92-28.06-6.92%-17.51%-4.28%1.83%0.89
DOC logoDOCHealthpeak Properties, Inc.Direct Competitor11.48B16.51165.104.52%7.73%2.6%9.99%1.26
OHI logoOHIOmega Healthcare Investors, Inc.Direct Competitor13.73B46.1223.7713.95%51.02%11.85%6.4%0.78
SBRA logoSBRASabra Health Care REIT, Inc.Product Competitor5.14B20.3831.8410.15%19.21%5.6%6.78%0.90
LTC logoLTCLTC Properties, Inc.Product Competitor1.85B38.2015.1625.26%44.88%10.15%7.34%0.55
CTRE logoCTRECareTrust REIT, Inc.Product Competitor8.76B39.3425.06108.71%80.64%6.51%4.5%

Compare AHR vs Peers

American Healthcare REIT, Inc. (AHR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs WELL

Most directly comparable listed peer for AHR.

Scale Benchmark

vs VTR

Larger-name benchmark to compare AHR against a more recognizable public peer.

Peer Set

Compare Top 5

vs WELL, VTR, HR, DOC

AHR Income Statement

American Healthcare REIT, Inc. (AHR) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Revenue980.29M1.05B1.13B1.22B1.18B1.26B1.62B1.86B2.07B2.2B
Revenue Growth %-7.03%7.83%7.92%-2.98%6.7%27.97%14.94%11.38%9.37%
Property Operating Expenses800.1M837.64M923.82M1B1.03B1.08B1.28B1.5B1.65B1.74B
Net Operating Income (NOI)
180.19M▲ 0%
211.6M▲ 17.4%
207.56M▼ 1.9%
219.3M▲ 5.7%
158.58M▼ 27.7%
182.01M▲ 14.8%
335.97M▲ 84.6%
356.83M▲ 6.2%
416.77M▲ 16.8%
454.97M▲ 0%
NOI Margin %18.38%20.17%18.35%17.96%13.39%14.4%20.77%19.19%20.13%20.69%
Operating Expenses28.68M32.17M28.42M29.75M27.01M43.2M245.38M280.11M279.99M285.74M
G&A Expenses28.68M32.17M28.42M29.75M27.01M43.2M103.1M104.98M100.8M93.94M
EBITDA423.73M293.05M275.41M329.68M264M292.62M291.19M314.01M358.42M377.75M
EBITDA Margin %43.22%27.93%24.34%27%22.29%23.15%18%16.89%17.31%17.18%
Depreciation & Amortization272.21M113.63M96.27M140.12M132.43M153.81M200.6M237.3M221.64M208.51M
D&A / Revenue %27.77%10.83%8.51%11.48%11.18%12.17%12.4%12.76%10.7%9.48%
Operating Income
151.51M▲ 0%
179.43M▲ 18.4%
179.14M▼ 0.2%
189.55M▲ 5.8%
131.57M▼ 30.6%
138.81M▲ 5.5%
90.59M▼ 34.7%
76.72M▼ 15.3%
136.78M▲ 78.3%
169.24M▲ 0%
Operating Margin %15.46%17.1%15.83%15.52%11.11%10.98%5.6%4.13%6.61%7.7%
Interest Expense45.66M60.87M66.28M78.55M71.28M80.94M105.96M163.19M127.73M3M
Interest Coverage3.32x2.95x2.70x2.41x1.85x1.72x0.85x0.47x1.07x-
Non-Operating Income271.58M113.64M96.03M111.41M98.86M133.19M57.43M-10.25M42.94M85.18M
Pretax Income
-203.55M▲ 0%
2.12M▲ 101.0%
13.74M▲ 547.2%
-860K▼ 106.3%
5.79M▲ 772.7%
-52.31M▼ 1004.3%
-72.8M▼ 39.2%
-76.22M▼ 4.7%
-33.89M▲ 55.5%
8.18M▲ 0%
Pretax Margin %-20.76%0.2%1.21%-0.07%0.49%-4.14%-4.5%-4.1%-1.64%0.37%
Income Tax008K-8K-3.08M956K586K663K1.71M-19.27M
Effective Tax Rate %0%0%0.06%0.93%-53.21%-1.83%-0.8%-0.87%-5.06%-235.6%
Net Income
-146.03M▲ 0%
11.22M▲ 107.7%
13.3M▲ 18.5%
-4.96M▼ 137.3%
2.16M▲ 143.6%
-47.79M▼ 2309.6%
-81.3M▼ 70.1%
-71.47M▲ 12.1%
-37.81M▲ 47.1%
27.26M▲ 0%
Net Margin %-14.9%1.07%1.18%-0.41%0.18%-3.78%-5.03%-3.84%-1.83%1.24%
Net Income Growth %-107.68%18.49%-137.34%143.56%-2309.62%-70.11%12.09%47.09%181.45%
Funds From Operations (FFO)
126.18M▲ 0%
124.85M▼ 1.1%
109.57M▼ 12.2%
135.16M▲ 23.4%
134.59M▼ 0.4%
106.01M▼ 21.2%
119.3M▲ 12.5%
165.83M▲ 39.0%
183.82M▲ 10.9%
235.77M▲ 0%
FFO Margin %12.87%11.9%9.68%11.07%11.36%8.39%7.38%8.92%8.88%10.72%
FFO Growth %--1.06%-12.24%23.36%-0.42%-21.23%12.53%39%10.85%106.27%
FFO per Share2.602.522.192.972.041.601.802.511.411.45
FFO Payout Ratio %40.96%44.68%54.74%46.32%20.06%21.5%42.85%46%65.77%83.62%
EPS (Diluted)
-3.01▲ 0%
0.23▲ 107.6%
0.27▲ 17.4%
-0.11▼ 140.7%
0.03▲ 129.7%
-0.72▼ 2301.8%
-1.23▼ 70.8%
-1.08▲ 12.2%
-0.29▲ 73.1%
0.17▲ 0%
EPS Growth %-107.64%17.39%-140.74%129.73%-2301.83%-70.83%12.2%73.15%129.19%
EPS (Basic)-3.010.230.27-0.110.03-0.72-1.23-1.08-0.29-
Diluted Shares Outstanding48.55M49.56M49.99M45.48M66.05M66.21M66.21M66.05M130.64M162.91M

AHR Balance Sheet

American Healthcare REIT, Inc. (AHR) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Total Assets2.79B2.8B2.89B3.17B3.23B4.58B4.79B4.58B4.49B4.77B
Asset Growth %-0.21%3.16%9.8%1.97%41.59%4.51%-4.36%-1.96%-8.03%
Real Estate & Other Assets26.66M23.2M24.51M22.79M21.68M23.06M26.36M3.53B3.47B3.7B
PP&E (Net)2.14B2.16B2.22B2.49B2.53B3.67B3.86B227.85M163.99M140.7M
Investment Securities1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Total Current Assets269.55M275.51M303.29M331.44M356.95M330.74M341.92M297.1M354.89M393.38M
Cash & Equivalents29.12M33.66M35.13M53.15M113.21M81.6M65.05M43.45M76.7M147.36M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Assets83.67M87.89M100.75M77.08M55.6M66.37M72.72M48.8M47.61M37.17M
Intangible Assets200.83M180.31M179.52M160.25M154.69M248.87M236.28M180.47M161.47M181.37M
Total Liabilities1.34B1.42B1.63B2.07B2.16B2.75B3.14B3.12B2.18B2.05B
Total Debt1.19B1.25B1.45B1.85B1.88B2.5B2.83B3.02B1.87B1.7B
Net Debt1.16B1.22B1.42B1.79B1.76B2.42B2.77B2.98B1.79B1.55B
Long-Term Debt1.15B1.24B1.45B1.64B1.68B1.43B2.24B1.34B1.02B1.01B
Short-Term Borrowings00000921.9M316.73M1.22B688.53M549.7M
Capital Lease Obligations45.3M16.19M4.7M207.37M193.63M145.49M273.07M451M165.24M608.32M
Total Current Liabilities107.33M126.56M144.79M173.72M194.68M1.11B560.57M1.47B946.86M847.75M
Accounts Payable37.18M43.97M43.03M62.2M67.83M64.41M83.69M242.91M258.32M0
Deferred Revenue0000000000
Other Liabilities46.8M41.03M38.47M48.77M89.27M60.78M60.38M82.23M54.86M55.8M
Total Equity
1.45B▲ 0%
1.38B▼ 4.9%
1.26B▼ 8.9%
1.1B▼ 12.3%
1.07B▼ 2.5%
1.83B▲ 70.2%
1.65B▼ 9.8%
1.46B▼ 11.5%
2.3B▲ 57.9%
2.72B▲ 0%
Equity Growth %--4.9%-8.86%-12.26%-2.53%70.22%-9.85%-11.53%57.91%103%
Shareholders Equity1.26B1.19B1.06B900.55M866.11M1.58B1.4B1.27B2.26B2.68B
Minority Interest187.27M191.16M196.37M202.21M208.72M248.28M249.27M188.86M42.93M41.75M
Common Stock1.96M1.99M1.98M1.94M1.8M658K661K661K1.56M1.7M
Additional Paid-in Capital1.75B1.79B1.77B1.73B1.73B2.53B2.54B2.55B3.72B4.2B
Retained Earnings-490.3M-598.04M-704.75M-827.55M-864.27M-951.3M-1.14B-1.28B-1.46B-1.52B
Preferred Stock0000000000
Return on Assets (ROA)-5.23%0.4%0.47%-0.16%0.07%-1.22%-1.74%-1.53%-0.83%0.57%
Return on Equity (ROE)-10.07%0.79%1.01%-0.42%0.2%-3.29%-4.67%-4.6%-2.01%1%
Debt / Assets42.6%44.77%50.27%58.22%58%54.62%59.19%65.95%41.68%35.56%
Debt / Equity0.82x0.91x1.16x1.67x1.75x1.37x1.72x2.07x0.81x0.81x
Net Debt / EBITDA2.74x4.16x5.15x5.44x6.68x8.27x9.51x9.48x5.01x5.01x
Book Value per Share29.8727.8325.1424.2516.2727.6324.9122.0917.6416.70

AHR Cash Flow Statement

American Healthcare REIT, Inc. (AHR) cash flow — operating, investing & free cash flow history

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Cash from Operations114.36M128.1M106.81M117.45M219.16M17.91M147.77M98.53M176.09M176.09M
Operating CF Growth %-12.02%-16.62%9.96%86.59%-91.83%724.92%-33.32%78.7%1339.11%
Operating CF / Revenue %11.67%12.21%9.44%9.62%18.5%1.42%9.14%5.3%8.5%8.01%
Net Income-146.03M11.22M13.3M-4.96M2.16M-53.27M-73.38M-76.89M-35.6M27.26M
Depreciation & Amortization277.67M121.42M103.31M144.14M132.95M157.38M200.6M237.3M221.64M189.3M
Stock-Based Compensation1.82M1.2M3.24M2.96M-1.19M9.66M3.91M5.47M9.87M11.21M
Other Non-Cash Items-2M16.82M8.08M24.24M10.97M-2.39M54.44M-11.55M48.86M107.48M
Working Capital Changes-17.09M-22.57M-21.12M-48.92M74.19M-93.47M-37.8M-55.79M-68.68M-15.24M
Cash from Investing-352.69M-124.55M-135.77M-103.11M-147.94M-138.65M-118.58M9.4M-8.73M-286.11M
Acquisitions (Net)00000-650K-18.57M-12.93M-235K-235K
Purchase of Investments0000000000
Sale of Investments0000000001000K
Other Investing-306.7M-81M-68.86M-10.28M-19.64M-58.31M-28.49M122.11M83.44M-302.77M
Cash from Financing226.66M4.76M37.6M2.69M-8.81M94.11M-42.92M-129.06M-134.74M55.06M
Dividends Paid-51.68M-55.78M-59.97M-62.61M-27M-22.79M-51.12M-76.28M-120.89M-197.15M
Common Dividends-51.68M-55.78M-59.97M-62.61M-27M-22.79M-51.12M-76.28M-120.89M-197.15M
Debt Issuance (Net)1000K1000K1000K1000K1000K1000K1000K-1000K-1000K-4M
Share Repurchases-20.94M-30.66M-76.58M-89.89M-23.11M-382K-20.7M-469K-14K0
Other Financing9.77M1.71M-8.42M-17.98M-724K-29.04M-33.93M-34.72M-382.64M263.48M
Net Change in Cash
-11.81M▲ 0%
8.47M▲ 171.7%
8.56M▲ 1.1%
17.18M▲ 100.6%
62.31M▲ 262.8%
-26.7M▼ 142.9%
-13.58M▲ 49.1%
-21.12M▼ 55.6%
32.52M▲ 253.9%
67.69M▲ 0%
Exchange Rate Effect-140K149K-77K145K-90K-74K154K7K-91K-105K
Cash at Beginning67.49M55.68M64.14M72.7M89.88M152.19M125.49M111.91M90.78M169.99M
Cash at End55.68M64.14M72.7M89.88M152.19M125.49M111.91M90.78M123.3M184.36M
Free Cash Flow
68.37M▲ 0%
84.55M▲ 23.7%
39.91M▼ 52.8%
24.62M▼ 38.3%
90.85M▲ 269.1%
-61.78M▼ 168.0%
76.25M▲ 223.4%
-1.26M▼ 101.6%
84.15M▲ 6799.6%
269.1M▲ 0%
FCF Growth %-23.66%-52.8%-38.31%269.06%-168%223.41%-101.65%6799.6%392.08%
FCF / Revenue %6.97%8.06%3.53%2.02%7.67%-4.89%4.71%-0.07%4.06%12.24%

AHR Key Ratios

American Healthcare REIT, Inc. (AHR) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric20172018201920202021202220232024TTM
FFO per Share2.522.192.972.041.61.82.511.411.45
FFO Payout Ratio44.68%54.74%46.32%20.06%21.5%42.85%46%65.77%83.62%
NOI Margin20.17%18.35%17.96%13.39%14.4%20.77%19.19%20.13%20.69%
Net Debt / EBITDA4.16x5.15x5.44x6.68x8.27x9.51x9.48x5.01x5.01x
Debt / Assets44.77%50.27%58.22%58%54.62%59.19%65.95%41.68%35.56%
Interest Coverage2.95x2.70x2.41x1.85x1.72x0.85x0.47x1.07x-
Book Value / Share27.8325.1424.2516.2727.6324.9122.0917.6416.7
Revenue Growth7.03%7.83%7.92%-2.98%6.7%27.97%14.94%11.38%9.37%

AHR SEC Filings & Documents

American Healthcare REIT, Inc. (AHR) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 7, 2026·SEC

Material company update

Mar 18, 2026·SEC

Material company update

Feb 27, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 27, 2026·SEC

FY 2025

Feb 28, 2025·SEC

10-Q Quarterly Reports

5
FY 2025

Nov 7, 2025·SEC

FY 2025

Aug 8, 2025·SEC

FY 2025

May 9, 2025·SEC

AHR Frequently Asked Questions

American Healthcare REIT, Inc. (AHR) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

American Healthcare REIT, Inc. (AHR) reported $2.20B in revenue for fiscal year 2024. This represents a 124% increase from $980.3M in 2016.

American Healthcare REIT, Inc. (AHR) grew revenue by 11.4% over the past year. This is steady growth.

Yes, American Healthcare REIT, Inc. (AHR) is profitable, generating $27.3M in net income for fiscal year 2024 (-1.8% net margin).

Dividend & Returns

Yes, American Healthcare REIT, Inc. (AHR) pays a dividend with a yield of 1.86%. This makes it attractive for income-focused investors.

American Healthcare REIT, Inc. (AHR) has a return on equity (ROE) of -2.0%. Negative ROE indicates the company is unprofitable.

Industry Metrics

American Healthcare REIT, Inc. (AHR) generated Funds From Operations (FFO) of $235.8M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Explore More AHR

American Healthcare REIT, Inc. (AHR) financial analysis — history, returns, DCA and operating performance tools

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Historical returns with dividends reinvested

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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