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American Healthcare Reit, Inc. (AHR) stock

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NYSE: AHR NYSE Health Care REITs Next results ~November 5, 2026

C+ Fundamentals grade

American Healthcare Reit, Inc. is a US-listed company in the health care REITs industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$35

Funds-from-operations model

Base case. Range ~$29–$43. Funds from operations growing 2.5% a year, discounted at 8%.

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

American Healthcare Reit, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 3 selling0 purchases and 10 sales by directors and officers, last 12 monthsInsider trades
  • Funds327 adding, 205 cuttingOf 67 active managers that changed their stake, 48 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter American Healthcare Reit files

Where American Healthcare Reit stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $2.50bn, up 16.4% on a year earlier, faster than 12.2% a quarter earlier. That growth ranks 2 of 22 among the real estate investment trusts companies we cover. The diluted share count is up 20.6% on a year earlier, which dilutes existing holders. Our valuation models combined value is $31.55 a share, against a share price of $54.06.

Source: 10-Q filed August 7, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

American Healthcare Reit, Inc.'s trailing-twelve-month revenue grew 16.4% year on year, with a free-cash-flow margin of 4.7%. Where it stands out: stock pay as % of revenue of 0.8% ranks 3 of 16 health care reits companies we cover. Where it lags: change in share count of 20.6% ranks 14 of 17 health care reits companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 16.4% (+4.1pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 16.4% over the last 12 months, against a median of 15.0% for health care reits companies we cover.
  • Growth speeding up. The growth rate is 4.1 points higher than a quarter earlier.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 9.4% over 90 days.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Share dilution. Diluted shares rose 20.6% in a year.
  • High earnings multiple. The shares trade at 81 times the last 12 months' earnings, so expectations are demanding.
  • Below peers: operating margin. Operating margin of 19.2% ranks 4 of 5 health care reits companies we cover (median 35.3%).
  • Heavily shorted. 17.3% of the shares available to trade are sold short (9.7 days of average volume to cover).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2026 Q2

Filed August 7, 2026
Earnings per share
$0.15 against an average estimate of $0.14: beat by 11.5%
Revenue
$674m, up 24.3% on a year earlier
Share reaction
+2.2% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Guidance given
NFFO per diluted share $2.15 to $2.19 (the year ending December 31, 2026); total portfolio Same-Store NOI growth growth 11% to 13% (the year ending December 31, 2026)
Next report
November 5, 2026; average EPS estimate $0.16

American Healthcare Reit's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.0%
  • 1 week+7.4%
  • 1 month+8.1%
  • This year+16.0%
  • 1 year+22.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$2.5B
Operating margin
19.2%
Net margin
4.8%
EPS (TTM, diluted)
$0.66

Growth

Revenue growth
+16.4%
Change in growth rate
+4.1 pts
Share count change
+20.6%

Earnings

Last results
August 6, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement
  3. Announcement
  4. Leadership
  5. Leadership
  6. Deal
  7. Leadership
  8. Partnership
  9. Announcement
  10. Announcement
  11. Announcement
  12. Financing
  13. Agreement
  14. Results
  15. Guidance
  16. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

American Healthcare Reit, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value American Healthcare Reit, Inc. as an equity reit, with every model that fits that kind of business. Cost of equity 8.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.7 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Funds-from-operations model Funds from operations growing 2.5% a year, discounted at 8%. ~$35 ~$29–$43 Primary model, counts double
Price-to-FFO vs peers Funds from operations per share times peers' typical (harmonic-mean) price-to-FFO. ~$0.7 ~$16–$33 Left out: out of range vs price (0.01x)
Dividend discount (growing dividend) Today's dividend growing 2.5% a year, discounted at the cost of equity. ~$9.9 ~$8.4–$12 Left out: out of range vs price (0.18x)
Combined value Weighted average of the models that apply: the primary model (funds-from-operations model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$35 ~$29–$43 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare American Healthcare Reit, Inc. with equity REITs in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

27 /100

Weak moat

How hard American Healthcare Reit's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -0.8% of total assets over 10 years.

  • Pricing power 0 / 20

    Gross margin has been a median 21.2%, moving by 31.3 percentage points (standard deviation) across 9 years.

  • Durability 5 / 20

    Operating margin has been a median 18.2%; its worst year was -23.3%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 7 of 10 years, at a median 8.7% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 2514.2% over five years; stock-based pay has been a median 0.4% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $725m and EPS of $0.16 (range $0.16 to $0.16) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.62 +47% $2.8bn +24%
Next $0.99 — $3.3bn +17%

Next year's EPS estimate has moved +9.4% in 90 days, across 1 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +4.2% on 90 days ago. In the last 30 days, 1 analyst raised American Healthcare Reit, Inc.'s forecast and 0 cut it.

Consensus EPS forecast American Healthcare Reit, Inc., last 90 days
$0.50 $0.60 $0.70 $0.80 $0.90 $1.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.59 Current fiscal year, 60 days ago: $0.60 Current fiscal year, 30 days ago: $0.60 Current fiscal year, 7 days ago: $0.61 Current fiscal year, Now: $0.62 $0.62 Next fiscal year, 90 days ago: $0.91 Next fiscal year, 60 days ago: $0.86 Next fiscal year, 30 days ago: $0.86 Next fiscal year, 7 days ago: $0.90 Next fiscal year, Now: $0.99 $0.99

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.59$0.91
60 days ago $0.60$0.86
30 days ago $0.60$0.86
7 days ago $0.61$0.90
Now $0.62$0.99

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.14 $0.15 +11.5%
Mar 2026 $0.15 $0.14 −7.4%
Dec 2025 $0.15 $0.14 −6.3%
Sept 2025 $0.15 $0.27 +74.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026
  • Net income per diluted share Full Year 2026 $0.54 to $0.58 GAAP
    “Net income per diluted share $0.56 $0.54 to $0.58 $0.51 to $0.57” source
  • NFFO per diluted share the year ending December 31, 2026 $2.15 to $2.19 Non-GAAP Raised
    “The Company is increasing total portfolio Same-Store NOI growth guidance to 11.0% to 13.0% and NFFO per diluted share guidance to $2.15 to $2.19 for the year ending December 31, 2026, over a 5% increase versus the prior NFFO per diluted share guidance at the midpoint.” source
  • total portfolio Same-Store NOI growth the year ending December 31, 2026 11% growth to 13% growth Non-GAAP Raised
    “The Company is increasing total portfolio Same-Store NOI growth guidance to 11.0% to 13.0% and NFFO per diluted share guidance to $2.15 to $2.19 for the year ending December 31, 2026, over a 5% increase versus the prior NFFO per diluted share guidance at the midpoint.” source
  • NAREIT FFO per diluted share Full Year 2026 $2.04 to $2.08 Non-GAAP
    “NAREIT FFO per diluted share $2.06 $2.04 to $2.08 $1.93 to $1.99” source
  • ISHC Same-Store NOI growth Full Year 2026 13% growth to 16% growth Non-GAAP
    “ISHC 14.5% 13.0% to 16.0% 11.0% to 15.0%” source
  • SHOP Same-Store NOI growth Full Year 2026 18% growth to 21% growth Non-GAAP
    “SHOP 19.5% 18.0% to 21.0% 15.0% to 19.0%” source
Show 5 more items
  • Outpatient Medical Same-Store NOI growth Full Year 2026 0% growth to 1% growth Non-GAAP
    “Outpatient Medical 0.5% 0.0% to 1.0% 0.0% to 2.0%” source
  • Triple-Net Leased Properties Same-Store NOI growth Full Year 2026 2% growth to 3% growth Non-GAAP
    “Triple-Net Leased Properties 2.5% 2.0% to 3.0% 2.0% to 3.0%” source
  • Net income attributable to common stockholders the Year Ending December 31, 2026 $109m to $117m GAAP
    “Net income attributable to common stockholders $108.5 $116.5 $97.8 $109.1” source
  • NAREIT FFO attributable to common stockholders the Year Ending December 31, 2026 $411m to $419m Non-GAAP
    “NAREIT FFO attributable to common stockholders $411.4 $419.4 $369.2 $380.5” source
  • Normalized FFO attributable to common stockholders the Year Ending December 31, 2026 $433m to $441m Non-GAAP
    “Normalized FFO attributable to common stockholders $432.8 $440.8 $388.2 $399.5” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

16 analysts, Oct 2026
Buy16100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202661016
  2. Sep 20266915
  3. Aug 20266915
  4. Jul 20266915

Counts of recommendations published by analysts covering American Healthcare Reit, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
17.3%
of tradable shares
Days to cover
9.67
at average volume
Short interest, 1 month
+33%
to October 15, 2026
Held by institutions
99%
of shares
Held by insiders
0.6%
of shares
Employees
121
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +21.1%

$44.41 on October 31, 2025 to $53.79

ThenNowEffect
Revenue (last 12 months) $2.1bn $2.5bn +16.4%
P/S multiple 3.1x 3.9x +25.5%
Share count 151m 183m −17.1%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20252026 to date
Return
AHR+70%+16%
Industry peers (median)+17%+11%
S&P 500+18%+11%
Months that ended higher
AHR75%55%
S&P 50075%46%
Largest fall from a high during the year
AHR−11%−14%
S&P 500−19%−9%

Worst fall since February 7, 2024: 14% from July 28, 2026 to October 7, 2026. Getting back needed a 16% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$44.83 – $57.44
From 52-week high
−6.4%
vs 50-day average
+1.5%
vs 200-day average
+5.3%
Volatility (1 year)
26%
Beta vs S&P 500
-0.04

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 3 down
typical move ±2.6%
After a week
8 up, 2 down
typical move ±4.1%
After a month
6 up, 4 down
typical move ±9.5%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 +2.2% +0.5% −3.4% −1.4%
May 7, 2026 +3.4% +0.5% +2.2% −8.6%
February 26, 2026 −1.3% −1.0% −1.5% −10.9%
November 6, 2025 +4.9% −1.0% +2.4% +5.8%
August 7, 2025 +2.2% +0.7% +1.9% +7.9%
May 8, 2025 +7.0% +0.6% +7.1% +7.8%
November 12, 2024 +1.2% −0.3% +6.2% +7.1%
August 5, 2024 +3.3% −2.0% +6.2% +35.1%
May 13, 2024 −0.1% +0.5% +2.9% +6.2%
March 21, 2024 −0.8% +0.1% +6.9% −4.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

American Healthcare Reit, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) American Healthcare Reit, Inc.
$1.5B $2B $2.5B $3B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $1.7B Revenue (TTM), FY23 Q4: $1.9B Revenue (TTM), FY24 Q1: $2B Revenue (TTM), FY24 Q2: $2.1B Revenue (TTM), FY24 Q3: $2.2B Revenue (TTM), FY24 Q4: $2.1B Revenue (TTM), FY25 Q1: $2.1B Revenue (TTM), FY25 Q2: $2.1B Revenue (TTM), FY25 Q3: $2.2B Revenue (TTM), FY25 Q4: $2.3B Revenue (TTM), FY26 Q1: $2.4B Revenue (TTM), FY26 Q2: $2.5B $2.5B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $1.7B
FY23 Q4 $1.9B
FY24 Q1 $2B
FY24 Q2 $2.1B
FY24 Q3 $2.2B
FY24 Q4 $2.1B
FY25 Q1 $2.1B
FY25 Q2 $2.1B
FY25 Q3 $2.2B
FY25 Q4 $2.3B
FY26 Q1 $2.4B
FY26 Q2 $2.5B
Revenue growth, TTM YoY American Healthcare Reit, Inc.
0% 10% 20% 30% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 27.0% Revenue growth, TTM YoY, FY23 Q4: 35.3% Revenue growth, TTM YoY, FY24 Q1: 26.7% Revenue growth, TTM YoY, FY24 Q2: 25.9% Revenue growth, TTM YoY, FY24 Q3: 28.7% Revenue growth, TTM YoY, FY24 Q4: 8.4% Revenue growth, TTM YoY, FY25 Q1: 7.9% Revenue growth, TTM YoY, FY25 Q2: 4.8% Revenue growth, TTM YoY, FY25 Q3: 1.8% Revenue growth, TTM YoY, FY25 Q4: 9.1% Revenue growth, TTM YoY, FY26 Q1: 12.2% Revenue growth, TTM YoY, FY26 Q2: 16.4% 16.4%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 27.0%
FY23 Q4 35.3%
FY24 Q1 26.7%
FY24 Q2 25.9%
FY24 Q3 28.7%
FY24 Q4 8.4%
FY25 Q1 7.9%
FY25 Q2 4.8%
FY25 Q3 1.8%
FY25 Q4 9.1%
FY26 Q1 12.2%
FY26 Q2 16.4%
Operating margin (TTM) American Healthcare Reit, Inc.
16% 17% 18% 19% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 17.8% Operating margin (TTM), FY23 Q4: 16.1% Operating margin (TTM), FY24 Q1: 16.5% Operating margin (TTM), FY24 Q2: 16.1% Operating margin (TTM), FY24 Q3: 16.2% Operating margin (TTM), FY24 Q4: 17.6% Operating margin (TTM), FY25 Q1: 17.8% Operating margin (TTM), FY25 Q2: 18.2% Operating margin (TTM), FY25 Q3: 18.3% Operating margin (TTM), FY25 Q4: 18.4% Operating margin (TTM), FY26 Q1: 18.8% Operating margin (TTM), FY26 Q2: 19.2% 19.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 17.8%
FY23 Q4 16.1%
FY24 Q1 16.5%
FY24 Q2 16.1%
FY24 Q3 16.2%
FY24 Q4 17.6%
FY25 Q1 17.8%
FY25 Q2 18.2%
FY25 Q3 18.3%
FY25 Q4 18.4%
FY26 Q1 18.8%
FY26 Q2 19.2%
FCF margin (TTM) American Healthcare Reit, Inc.
-10% -5% 0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -4.6% FCF margin (TTM), FY23 Q4: -4.4% FCF margin (TTM), FY24 Q1: -5.7% FCF margin (TTM), FY24 Q2: -3.6% FCF margin (TTM), FY24 Q3: -1.6% FCF margin (TTM), FY24 Q4: -0.1% FCF margin (TTM), FY25 Q1: 3.1% FCF margin (TTM), FY25 Q2: 3.7% FCF margin (TTM), FY25 Q3: 5.4% FCF margin (TTM), FY25 Q4: 4.7% FCF margin (TTM), FY26 Q1: 4.3% FCF margin (TTM), FY26 Q2: 4.7% 4.7%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -4.6%
FY23 Q4 -4.4%
FY24 Q1 -5.7%
FY24 Q2 -3.6%
FY24 Q3 -1.6%
FY24 Q4 -0.1%
FY25 Q1 3.1%
FY25 Q2 3.7%
FY25 Q3 5.4%
FY25 Q4 4.7%
FY26 Q1 4.3%
FY26 Q2 4.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 0 3 33 84 1,099 1,069 1,124 1,412 1,867 2,071 2,260 2,502
Gross profit — 2 26 73 1,080 75 94 131 364 417 467 530
EBITDA 0 −4 — — 333 317 347 470 489 543 603 724
Operating income 0 −5 — — 221 218 213 302 307 364 415 480
Net income 0 −5 1 −8 −5 2 −48 −81 −71 −38 70 121
Diluted EPS $0.00 −$4.33 $0.05 −$0.74 −$0.15 $0.10 −$0.47 −$0.62 −$0.54 −$0.29 $0.42 $0.66
Growth (year on year)
Revenue — — +956.2% +153.4% +>999% −2.7% +5.1% +25.6% +32.2% +10.9% +9.1% +16.4%
EBITDA — — — — — −4.7% +9.3% +35.6% +4.2% +10.9% +11.1% +28.2%
Operating income — — — — — −1.4% −2.3% +41.5% +1.6% +18.5% +14.2% +23.0%
Margins
Gross margin — 71.5% 78.1% 86.4% 98.3% 7.0% 8.3% 9.3% 19.5% 20.1% 20.6% 21.2%
EBITDA margin — −117.5% — — 30.3% 29.7% 30.8% 33.3% 26.2% 26.2% 26.7% 28.9%
Operating margin — −157.2% — — 20.1% 20.4% 19.0% 21.4% 16.4% 17.6% 18.4% 19.2%
Net margin — −173.4% 1.6% −9.9% −0.5% 0.2% −4.3% −5.8% −3.8% −1.8% 3.1% 4.8%
Free-cash-flow margin — −115.5% 33.8% 13.2% 10.1% 19.7% — 9.9% 5.3% 8.5% 13.0% 14.5%
Cash flow
Cash from operations 0 −4 12 15 117 219 18 148 99 176 294 362
Capital spending 0 0 1 4 6 8 — 8 0 0 0 0
Free cash flow 0 −4 11 11 111 211 — 140 99 176 294 362
Stock-based pay 0 0 0 0 3 −1 9 4 5 10 15 20
Free cash flow after stock pay 0 −4 11 11 108 212 — 136 93 166 280 343
Balance sheet
Cash 0 2 7 35 53 113 82 65 43 77 115 157
Total debt 0 34 12 17 27 834 1,116 1,254 1,326 1,005 986 890
Net debt (negative = net cash) −0 32 5 −18 −26 721 1,035 1,189 1,283 928 871 733
Diluted shares — 1m 11m 11m 37m 22m 100m 132m 132m 131m 167m 183m
Returned to shareholders
Dividends 0 1 6 14 63 27 23 51 76 121 164 179
Buybacks 0 0 1 3 90 23 0 21 0 0 0 —
Total returned 0 1 7 17 153 50 23 72 77 121 164 179

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

FY2025 Q4 TTM
Buybacks (TTM)
$0
Dividends (TTM)
$179M
Returned to shareholders
153%
of free cash flow
Buybacks, last 3 fiscal years
$483,000
Diluted share count
+20.6%
year over year
Total shareholder yield
1.7%
dividends 1.7% + buybacks 0.0% of market value
Dividend payout ratio
148%
of net income paid out

Competitors: side by side with peers

Closest by revenue in health care reits
Last 12 months unless stated AHR DOC DHC OHI HR MPT Median
Revenue, last 12 months $2.5bn $2.9bn $1.5bn $1.3bn $1.1bn $1.0bn $919m
Revenue growth, last 12 months 16.4% 5.5% −3.8% 15.0% −5.8% 10.6% 15.0%
Revenue growth, 3-year average 15.4% 11.7% 2.2% 14.6% −5.7% −10.5% 12.0%
Revenue growth, latest quarter 24.3% 11.1% −5.4% 16.2% −3.7% 7.9% 11.1%
Gross margin 21.2% 60.1% — — — 90.3% 60.1%
Operating margin 19.2% — 24.9% 43.5% 20.6% 68.9% 35.3%
Operating margin, 3-year average 17.8% — 27.4% 53.9% 21.5% 63.9% 35.7%
Net margin 4.8% 8.2% −10.3% 67.0% −4.0% −3.0% 7.8%
Cash from operations / revenue 14.5% 41.7% 3.7% 69.5% 39.7% 22.3% 41.7%
Free-cash-flow margin 4.7% 4.5% −4.4% 63.6% −5.5% −5.2% 15.1%
Free-cash-flow margin, 3-year average 1.6% 4.4% −7.6% 66.1% −11.2% −6.5% 19.1%
Stock pay / revenue 0.8% 0.7% 0.1% 4.1% 1.6% 1.2% 1.6%
Change in share count 20.6% −0.7% 0.3% 7.9% −1.4% −0.2% 6.1%

Median of all 17 companies we cover in health care reits. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

17 health care reits companies
Measure Company Peer median Rank
Revenue growth Growth 16.4% 15.0% 8 of 17
Change in growth rate Growth +4.1pp +1.1pp 5 of 17
Operating margin Profitability 19.2% 35.3% 4 of 5
Net margin Profitability 4.8% 7.8% 11 of 17
Stock pay as % of revenue Cash generation 0.8% 1.8% 3 of 16
Change in share count Balance sheet 20.6% 6.1% 14 of 17

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue YoY
Integrated Senior Health Campuses $1.8B ▲ 8.9%
SHOP $331M ▲ 25.2%
Outpatient Medical $0 —
Triple Net Leased Properties $0 —

These categories overlap or exclude eliminations, so shares aren't shown.

Geography
Region Revenue Share YoY
United States $2.3B 99.7% ▲ 9.2%
Outside the US $6.5M 0.3% ▼ 1.7%

From American Healthcare Reit, Inc.'s 10-K filed February 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$11.7B
Institutions reporting
570
Shares held vs prior quarter
▲ 19.2%
Positions opened / closed
89 / 41

Top buyers and sellers, Q2 2026: 327 institutions bought and 205 sold ; the biggest buyer was Cohen & Steers, Inc (+4.2M shares) and the biggest seller Blackrock, Inc (−2.9M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.3B 25.8M 11.5% ▼ 10.1%
Vanguard Portfolio Management LLC $885M 17.0M 7.6% ▲ 5.3%
Vanguard Capital Management LLC $480M 9.2M 4.1% ▲ 12.2%
State Street Corp $474M 9.0M 4.0% ▼ 5.2%
Principal Financial Group Inc $465M 8.9M 4.0% ▲ 20.1%
Wellington Management Group LLP $452M 8.7M 3.9% ▲ 4.5%
Invesco Ltd. $275M 5.3M 2.3% ▼ 22.3%
FMR LLC $238M 4.6M 2.0% ▼ 9.8%
Geode Capital Management, LLC $238M 4.6M 2.0% ▼ 26.3%
Bank Of America Corp $236M 4.5M 2.0% ▲ 40.0%
Cohen & Steers, Inc. $221M 4.2M 1.9% New
Centersquare Investment Management LLC $219M 4.2M 1.9% ▲ 51.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not American Healthcare Reit, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $5.5M 10 trades by 3 insiders · 6% under pre-set plans
Net ▼ $5.5M net selling
Insider Date Trade Shares Price Value
Foster Mark E. EVP, GC & Secretary September 25, 2026 Sell 1,500 $52.06 $78,090
Foster Mark E. EVP, GC & Secretary September 1, 2026 Sell pre-set plan 2,000 $55.39 $110,780
Peay Brian Chief Financial Officer June 26, 2026 Sell 25,000 $50.70 $1.3M
Foster Mark E. EVP, GC & Secretary June 24, 2026 Sell 2,500 $48.58 $121,450
Foster Mark E. EVP, GC & Secretary June 1, 2026 Sell pre-set plan 2,000 $48.32 $96,640
Foster Mark E. EVP, GC & Secretary March 25, 2026 Sell pre-set plan 2,000 $48.55 $97,100
Hanson Jeffrey T Director December 23, 2025 Sell 19,208 $48.40 $929,667
Hanson Jeffrey T Director December 22, 2025 Sell 35,570 $48.38 $1.7M
Foster Mark E. EVP, GC & Secretary November 11, 2025 Sell 1,500 $49.35 $74,025
Hanson Jeffrey T Director November 10, 2025 Sell 20,010 $49.68 $994,097

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 26, 2026
  • November 6, 2025
  • August 7, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on American Healthcare Reit, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

American Healthcare Reit, Inc. in brief

What does American Healthcare Reit, Inc. do?
American Healthcare Reit, Inc. is a US-listed company in the health care REITs industry. Its financial year ends in December.
What is American Healthcare Reit, Inc.'s stock ticker?
American Healthcare Reit, Inc. trades under the ticker AHR on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is American Healthcare Reit, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, American Healthcare Reit, Inc. reported revenue of $2.5B, 16.4% higher than a year earlier, according to its SEC filings.
What is American Healthcare Reit, Inc.'s free cash flow?
American Healthcare Reit, Inc.'s free-cash-flow margin is 4.7% of revenue over the trailing twelve months.
Who are American Healthcare Reit, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is American Healthcare Reit, Inc. buying back stock, and does it pay a dividend?
American Healthcare Reit, Inc. spent $0 on share repurchases over the trailing twelve months, and its diluted share count still rose 20.6% over the year.
What is American Healthcare Reit, Inc.'s market cap?
On November 2, 2026, American Healthcare Reit, Inc.'s market capitalisation was about $9.8B, with a price-to-earnings ratio of 81.2 and net debt of $733M. Market figures come from third-party market data and may be delayed.
Does American Healthcare Reit, Inc. pay a dividend?
Yes: American Healthcare Reit, Inc. paid $179M in dividends over the trailing twelve months, a dividend yield of 1.70% and a payout ratio of 147.5%.
Who are American Healthcare Reit, Inc.'s competitors?
In our Health Care REITs peer group, the companies closest to American Healthcare Reit, Inc. are Healthpeak Properties, Diversified Healthcare Trust, Omega Healthcare Investors Inc, Healthcare Realty Trust Inc and Medical Properties Trust Inc. The side-by-side comparison below sets their revenue, margins and growth against American Healthcare Reit, Inc.'s.
Are insiders buying or selling American Healthcare Reit, Inc. stock?
Over the last 12 months, American Healthcare Reit, Inc.'s directors and officers reported 0 open-market purchases and 10 sales on Form 4. The insider trading page charts every trade.
When is American Healthcare Reit, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — American Healthcare Reit, Inc. announces its own schedule.