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AH Realty Trust, Inc. (AHRT) stock

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NYSE: AHRT NYSE Other Specialized REITs Next results ~February 16, 2027

AH Realty Trust, Inc. is a US-listed company in the other specialized REITs industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: data-quality checks not passed.

Price vs value

Under review: data-quality checks not passed. We'll show the comparison once resolved.

AH Realty Trust, 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.

  • Insiders3 buying, 0 selling10 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds91 adding, 110 cuttingOf 28 active managers that changed their stake, 13 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter AH Realty Trust files

Where AH Realty Trust stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $214m, down 19.2% on a year earlier, a smaller fall than the 35.9% decline a quarter earlier. Free-cash-flow margin rose to 14.3% from -4.6% a year earlier. The diluted share count is up 2.2% on a year earlier, which dilutes existing holders. It passes 0 of our 5 financial-health checks.

Our model value for AH Realty Trust is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 6, 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 ~February 16, 2027 (estimated)

AH Realty Trust, Inc.'s trailing-twelve-month revenue fell 19.2% year on year, with a free-cash-flow margin of 14.3%.

Our discounted-cash-flow model values the business at ~$0.3 per share in the base case (—–$5.4 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to -19.2% (+16.7pp 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

Nothing in AH Realty Trust, Inc.'s latest figures clears our strength thresholds.

Things to watch

  • Revenue shrinking. Revenue fell 19.2% over the last 12 months.
  • Share dilution. Diluted shares rose 2.2% in a year.
  • High debt. Long-term debt exceeds cash by $0.9bn, more than 1.5 times annual revenue.
  • Short interest rising. Shares sold short rose 16% in a month to 5.3% of tradable shares.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 4 of the last four quarters.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 166.7% over 90 days.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
-$0.07 against an average estimate of -$0.05: missed by 40.0%
Revenue
$53m, up 3.6% on a year earlier
Share reaction
+2.0% in the first session after the results on August 3, 2026, against +3.3% for the S&P 500
Guidance given
FFO, As Adjusted per diluted share $0.53 to $0.57 (full-year 2026); funds From Operations, As Adjusted ("FFO, As Adjusted") $52.3m to $56.3m (Full-year 2026)
Next report
November 2, 2026

AH Realty Trust's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+5.3%
  • 1 week+5.1%
  • 1 month+6.1%
  • This year+3.7%
  • 1 year+7.2%
  • 5 years-38.6%
  • S&P 500 this year+11.2%

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

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$214M
Operating margin
22.7%
Net margin
-18.4%
EPS (TTM, diluted)
$-0.50

Growth

Revenue growth
−19.2%
Change in growth rate
+16.7 pts
Share count change
+2.2%

Cash

Free cash flow (TTM)
$30.7M
FCF margin
14.3%
Stock pay % of revenue
2.2%

Earnings

Last results
November 2, 2026
Next results (est.)
February 16, 2027

News & updates

Updated November 2, 2026

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

  1. Results
  2. Announcement
  3. Results
  4. Guidance

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

AH Realty Trust, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: data-quality checks not passed.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value AH Realty Trust, Inc. as an equity reit, with every model that fits that kind of business. Cost of equity 8.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.75 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Funds-from-operations model Funds from operations growing 2.5% a year, discounted at 8%. — Does not apply: This model is withheld pending its input or assumption review.
Price-to-FFO vs peers Funds from operations per share times peers' typical (harmonic-mean) price-to-FFO. — Does not apply: This model is withheld pending its input or assumption review.
Dividend discount (growing dividend) Today's dividend growing 2.5% a year, discounted at the cost of equity. ~$19 ~$16–$23 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare AH Realty Trust, 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.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$5.35$7.96$8.96$8.58$11.76$7.54$10.72$8.59$9.88$8.81$6.17$6.40
Market value$221m$400m$380m$408m$625m$432m$650m$580m$669m$623m$494m$505m
+ Net debt (− = net cash)$355m$505m$503m$679m$922m$923m$922m$1.0bn$1.4bn$1.3bn$1.5bn$935m
Enterprise value$576m$905m$884m$1.1bn$1.5bn$1.4bn$1.6bn$1.6bn$2.0bn$1.9bn$2.0bn$1.4bn
Multiples
Price / sales 0.9x1.5x1.3x2.1x2.4x1.1x2.1x1.2x2.6x1.4x2.4x2.4x
Price / earnings 11.3x14.2x18.1x23.7x26.0x14.8x29.7x7.8x80.7x17.5x88.2x—
Price / free cash flow ————————————
EV / EBITDA 11.6x9.8x11.5x15.1x15.9x12.5x12.3x7.7x16.5x14.9x16.4x12.8x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

41 /100

Weak moat

How hard AH Realty Trust'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 1.5% of total assets over 10 years.

  • Pricing power 4 / 20

    Gross margin has been a median 31.7%, moving by 15.4 percentage points (standard deviation) across 10 years.

  • Durability 15 / 20

    Operating margin has been a median 17.4%; its worst year was 11.9%.

  • Cash conversion 13 / 20

    Free cash flow was positive in 9 of 10 years, at a median 7.9% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 33.6% over five years; stock-based pay has been a median 0.8% 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

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.67 −731% $210m −22%
Next −$0.10 +85% $214m +2%

Next year's EPS estimate has moved −166.7% in 90 days, across 1 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +189.1% on 90 days ago. In the last 30 days, 0 analysts raised AH Realty Trust, Inc.'s forecast and 1 cut it.

Consensus EPS forecast AH Realty Trust, Inc., last 90 days
−$1.00 −$0.50 $0.00 $0.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.23 Current fiscal year, 60 days ago: −$0.67 Current fiscal year, 30 days ago: −$0.67 Current fiscal year, 7 days ago: −$0.67 Current fiscal year, Now: −$0.67 −$0.67 Next fiscal year, 90 days ago: $0.15 Next fiscal year, 60 days ago: $0.15 Next fiscal year, 30 days ago: −$0.10 Next fiscal year, 7 days ago: −$0.10 Next fiscal year, Now: −$0.10 −$0.10

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

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.23$0.15
60 days ago −$0.67$0.15
30 days ago −$0.67−$0.10
7 days ago −$0.67−$0.10
Now −$0.67−$0.10

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 −$0.05 −$0.07 −40.0%
Jun 2026 $0.04 −$0.25 −725.0%
Mar 2026 −$0.07 −$0.33 −407.7%
Dec 2025 $0.03 −$0.01 −133.3%

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

Management guidance

Earnings release, August 3, 2026
  • FFO, As Adjusted per diluted share full-year 2026 $0.53 to $0.57 Non-GAAP Raised
    “The Company raised its 2026 full-year FFO, As Adjusted guidance range to $0.53 to $0.57 per diluted share.” source
  • Funds From Operations, As Adjusted ("FFO, As Adjusted") Full-year 2026 $52.3m to $56.3m Non-GAAP Raised
    “FUNDS FROM OPERATIONS, AS ADJUSTED ("FFO, AS ADJUSTED") (4) $52.3M $56.3M” source
  • Retail NOI Full-year 2026 $69.3m to $70.8m
    “RETAIL NOI $69.3M $70.8M” source
  • Office NOI Full-year 2026 $59.1m to $60.6m
    “OFFICE NOI 59.1M 60.6M” source
  • Equity Method Investment ("EMI") Property Income Full-year 2026 $3.4m to $3.9m
    “EQUITY METHOD INVESTMENT ("EMI") PROPERTY INCOME (2) 3.4M 3.9M” source
  • Acquisition NOI · Acquisitions Full-year 2026 $0m to $0m
    “ACQUISITION NOI 0.0M 0.0M” source
Show 7 more items
  • Total Commercial NOI Full-year 2026 $132m to $135m
    “TOTAL COMMERCIAL NOI $131.8M $135.3M” source
  • G&A Expenses Full-year 2026 $-20m to $-19m
    “G&A EXPENSES -20.0M -19.0M” source
  • Interest Expense Full-year 2026 $-57.2m to $-54.2m
    “INTEREST EXPENSE -57.2M -54.2M” source
  • Other NOI · Other (Smith's Landing / Parking Income) Full-year 2026 $8.9m to $9.9m
    “OTHER NOI (3) 8.9M 9.9M” source
  • Preferred Stock Dividends Full-year 2026 $-11.5m to $-11.5m
    “PREFERRED STOCK DIVIDENDS -11.5M -11.5M” source
  • Same-Store NOI Cash Growth - Retail Full-year 2026 2.5% growth to 3.5% growth Raised
    “Retail 2.50% - 3.50%” source
  • Same-Store NOI Cash Growth - Office Full-year 2026 2.75% growth to 3.75% growth Raised
    “Office 2.75% - 3.75%” 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

4 analysts, Nov 2026
Buy250%
Hold125%
Sell125%

Monthly trend

  1. Nov 20262114
  2. Oct 20262114
  3. Sep 20262114

Counts of recommendations published by analysts covering AH Realty Trust, 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
5.3%
of tradable shares
Days to cover
2.39
at average volume
Short interest, 1 month
+16%
to October 15, 2026
Held by institutions
80%
of shares
Held by insiders
1.3%
of shares
Employees
98
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 +7.2%

$5.97 on October 31, 2025 to $6.40

ThenNowEffect
Revenue (last 12 months) $265m $214m −19.2%
P/S multiple 1.7x 2.4x +35.6%
Share count 77m 79m −2.1%

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

Last 3 years −22.6%

$8.27 on November 3, 2023 to $6.40

ThenNowEffect
Revenue (last 12 months) $595m $214m −64.0%
P/S multiple 0.9x 2.4x +150.1%
Share count 68m 79m −14.0%

Biggest factor: revenue. 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 202120222023202420252026 to date
Return
AHRT+42%−20%+15%−11%−30%+4%
Industry peers (median)+48%−15%+9%+6%−1%+27%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
AHRT67%50%50%50%42%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
AHRT−12%−32%−23%−19%−38%−27%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 62% from January 24, 2020 to May 15, 2020. Getting back needed a 164% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$4.93 – $7.01
From 52-week high
−8.7%
vs 50-day average
+4.5%
vs 200-day average
+3.3%
Volatility (1 year)
29%
Beta vs S&P 500
0.47

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
5 up, 6 down
typical move ±3.9%
After a week
5 up, 6 down
typical move ±5.5%
After a month
5 up, 6 down
typical move ±6.6%
Results releasedNext dayS&P 500 next day5 days21 days
August 3, 2026 +2.0% +3.3% −3.2% −7.9%
May 4, 2026 +5.9% +0.4% +6.6% +10.0%
February 17, 2026 −10.6% +0.7% −13.8% −14.5%
November 3, 2025 −1.8% −1.0% −4.7% 0.0%
August 4, 2025 +0.9% +1.0% +3.9% +6.3%
May 7, 2025 −1.7% +1.1% +4.2% +2.0%
February 19, 2025 −3.7% −0.2% −2.5% −17.0%
November 4, 2024 +3.0% +1.0% +3.1% +2.3%
August 7, 2024 −0.3% +1.6% −1.3% +3.3%
May 9, 2024 +4.7% +0.7% +5.8% 0.0%
February 22, 2024 −7.8% +2.1% −11.7% −9.4%

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.

Fundamentals

Revenue (TTM) AH Realty Trust, Inc.
$0 $200M $400M $600M $800M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $634.3M Revenue (TTM), FY23 Q4: $253.9M Revenue (TTM), FY24 Q1: $236.7M Revenue (TTM), FY24 Q2: $187.6M Revenue (TTM), FY24 Q3: $136M Revenue (TTM), FY24 Q4: $407.7M Revenue (TTM), FY25 Q1: $330.9M Revenue (TTM), FY25 Q2: $264.8M Revenue (TTM), FY25 Q3: $203.5M Revenue (TTM), FY25 Q4: $209.9M Revenue (TTM), FY26 Q1: $212.1M Revenue (TTM), FY26 Q2: $213.9M $213.9M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $634.3M
FY23 Q4 $253.9M
FY24 Q1 $236.7M
FY24 Q2 $187.6M
FY24 Q3 $136M
FY24 Q4 $407.7M
FY25 Q1 $330.9M
FY25 Q2 $264.8M
FY25 Q3 $203.5M
FY25 Q4 $209.9M
FY26 Q1 $212.1M
FY26 Q2 $213.9M
Revenue growth, TTM YoY AH Realty Trust, Inc.
-100% -50% 0% 50% 100% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 58.0% Revenue growth, TTM YoY, FY23 Q4: -46.1% Revenue growth, TTM YoY, FY24 Q1: -55.5% Revenue growth, TTM YoY, FY24 Q2: -68.4% Revenue growth, TTM YoY, FY24 Q3: -78.6% Revenue growth, TTM YoY, FY24 Q4: 60.6% Revenue growth, TTM YoY, FY25 Q1: 39.8% Revenue growth, TTM YoY, FY25 Q2: 41.1% Revenue growth, TTM YoY, FY25 Q3: 49.7% Revenue growth, TTM YoY, FY25 Q4: -48.5% Revenue growth, TTM YoY, FY26 Q1: -35.9% Revenue growth, TTM YoY, FY26 Q2: -19.2% -19.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 58.0%
FY23 Q4 -46.1%
FY24 Q1 -55.5%
FY24 Q2 -68.4%
FY24 Q3 -78.6%
FY24 Q4 60.6%
FY25 Q1 39.8%
FY25 Q2 41.1%
FY25 Q3 49.7%
FY25 Q4 -48.5%
FY26 Q1 -35.9%
FY26 Q2 -19.2%
Operating margin (TTM) AH Realty Trust, Inc.
10% 15% 20% 25% 30% 35% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 14.3% Operating margin (TTM), FY23 Q4: 24.1% Operating margin (TTM), FY24 Q1: 21.6% Operating margin (TTM), FY24 Q2: 17.6% Operating margin (TTM), FY24 Q3: 17.9% Operating margin (TTM), FY24 Q4: 14.5% Operating margin (TTM), FY25 Q1: 17.1% Operating margin (TTM), FY25 Q2: 24.4% Operating margin (TTM), FY25 Q3: 30.5% Operating margin (TTM), FY25 Q4: 23.1% Operating margin (TTM), FY26 Q1: 24.7% Operating margin (TTM), FY26 Q2: 22.7% 22.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 14.3%
FY23 Q4 24.1%
FY24 Q1 21.6%
FY24 Q2 17.6%
FY24 Q3 17.9%
FY24 Q4 14.5%
FY25 Q1 17.1%
FY25 Q2 24.4%
FY25 Q3 30.5%
FY25 Q4 23.1%
FY26 Q1 24.7%
FY26 Q2 22.7%
FCF margin (TTM) AH Realty Trust, Inc.
-10% 0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 8.2% FCF margin (TTM), FY23 Q4: 11.8% FCF margin (TTM), FY24 Q1: 26.1% FCF margin (TTM), FY24 Q2: 27.0% FCF margin (TTM), FY24 Q3: 28.9% FCF margin (TTM), FY24 Q4: 10.8% FCF margin (TTM), FY25 Q1: -0.3% FCF margin (TTM), FY25 Q2: -4.6% FCF margin (TTM), FY25 Q3: -6.7% FCF margin (TTM), FY25 Q4: -3.9% FCF margin (TTM), FY26 Q1: 2.4% FCF margin (TTM), FY26 Q2: 14.3% 14.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 8.2%
FY23 Q4 11.8%
FY24 Q1 26.1%
FY24 Q2 27.0%
FY24 Q3 28.9%
FY24 Q4 10.8%
FY25 Q1 -0.3%
FY25 Q2 -4.6%
FY25 Q3 -6.7%
FY25 Q4 -3.9%
FY26 Q1 2.4%
FY26 Q2 14.3%

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

Where the money goes

FY2025, from the 10-K

Each dollar AH Realty Trust took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $210M
  2. Selling, general and admin $20.3M · 9.7%
  3. Other operating costs $141M · 67.2%
  4. Operating income $48.5M · 23.1%
  5. Interest and other $42.9M · 20.5%
  6. Net income $5.6M · 2.7%

Shares of revenue. Source: AH Realty Trust's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

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

Fiscal year 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 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 130 108 140 168 252 258 303 193 257 384 303 471 254 433 210 214
Gross profit 41 41 42 47 — — 116 81 106 117 143 167 184 — — —
EBITDA 37 38 35 39 50 93 77 72 97 109 128 207 124 127 121 113
Operating income 24 25 20 21 27 57 40 32 43 49 59 134 61 59 49 48
Net income 2 9 7 8 20 28 21 17 24 29 22 75 8 36 6 −39
Diluted EPS — — $0.39 $0.36 $0.75 $0.85 $0.50 $0.36 $0.41 $0.38 $0.17 $0.94 −$0.05 $0.34 −$0.08 −$0.50
Growth (year on year)
Revenue — −16.7% +29.1% +20.0% +50.2% +2.4% +17.2% −36.2% +33.0% +49.2% −21.1% +55.7% −46.1% +70.6% −51.5% −19.2%
EBITDA — +1.7% −8.1% +12.7% +27.7% +86.1% −16.7% −6.7% +35.1% +11.8% +17.7% +62.0% −40.0% +2.4% −5.0% −17.4%
Operating income — +3.0% −20.4% +8.7% +24.3% +115.2% −30.4% −19.5% +33.1% +14.3% +21.4% +127.2% −54.6% −3.0% −18.0% −25.1%
Net income — — −17.5% +4.8% +155.4% +42.9% −25.0% −18.3% +39.8% +21.2% −24.9% +241.4% −88.9% +330.1% −84.3% −310.5%
Diluted EPS — — — −7.7% +108.3% +13.3% −41.2% −28.0% +13.9% −7.3% −55.3% +452.9% −105.3% — −123.5% −306.0%
Margins
Gross margin 31.3% 37.6% 30.0% 27.9% — — 38.4% 41.9% 41.4% 30.5% 47.2% 35.5% 72.5% — — —
EBITDA margin 28.4% 34.7% 24.7% 23.2% 19.7% 35.8% 25.5% 37.2% 37.8% 28.3% 42.3% 44.0% 49.0% 29.4% 57.6% 52.6%
Operating margin 18.4% 22.8% 14.0% 12.7% 10.5% 22.1% 13.1% 16.6% 16.6% 12.7% 19.6% 28.5% 24.1% 13.7% 23.1% 22.7%
Net margin 1.7% 8.2% 5.2% 4.6% 7.8% 10.9% 7.0% 8.9% 9.4% 7.6% 7.2% 15.9% 3.3% 8.2% 2.7% −18.4%
Cash flow
Cash from operations 23 22 22 31 33 57 51 56 68 91 91 117 93 112 64 95
Stock-based pay — — 1 1 1 1 1 1 2 2 2 3 4 5 7 5
Balance sheet
Cash 13 9 19 26 27 22 20 21 39 41 35 47 20 22 41 21
Total debt 0 335 278 361 382 527 523 701 961 964 957 1,073 1,401 1,298 1,527 956
Net debt (negative = net cash) −13 326 259 335 355 505 503 679 922 923 922 1,026 1,381 1,276 1,486 935
Diluted shares — — 32m 35m 41m 50m 42m 48m 53m 57m 61m 68m 68m 71m 80m 79m
Returned to shareholders
Dividends — — 8 22 27 34 44 51 62 48 59 73 80 84 75 79
Buybacks — — — — — — — — — — 0 0 13 0 0 —
Total returned — — 8 22 27 34 44 51 62 48 59 73 93 84 75 79

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.

Financial health

0 of 5 checks passed · June 30, 2026
  • Short-term assets cover short-term liabilities The company doesn't report a short-term split. Not assessable.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $21m of cash against $956m of debt.
  • Debt below 40% of shareholders' equity Debt is 181% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 165% to 181% over five years.
  • A year's operating cash flow covers at least 20% of debt $95m of operating cash flow against $956m of debt.
  • Operating profit covers interest at least five times over Operating income of $48m against $74m of interest.

From AH Realty Trust, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$78.6M
Returned to shareholders
256%
of free cash flow
Buybacks, last 3 fiscal years
$12.6M
Diluted share count
+2.2%
year over year
Total shareholder yield
16.5%
dividends 16.5% + buybacks 0.0% of market value

Competitors: side by side with peers

Closest by revenue in other specialized reits
Last 12 months unless stated AHRT IIPR EPR FPI OUT LAMR Median
Revenue, last 12 months $214m $264m $764m $50m $1.9bn $2.3bn $764m
Revenue growth, last 12 months −19.2% −8.4% 7.3% −5.6% 7.6% 4.4% 4.4%
Revenue growth, 3-year average −28.9% −3.6% 2.4% −4.7% 2.2% 3.9% 2.2%
Revenue growth, latest quarter 3.6% 0.7% 12.0% −13.1% 13.5% 6.5% 6.5%
Gross margin 79.7% — — — — 67.4% 73.6%
Operating margin 22.7% 51.4% 59.0% 34.8% 20.5% 31.8% 31.8%
Operating margin, 3-year average 21.6% 52.5% 53.2% 35.2% 19.0% 30.4% 30.4%
Net margin −18.4% 52.3% 38.8% 19.5% 12.7% 23.9% 19.5%
Cash from operations / revenue 44.3% 74.5% 61.9% 36.2% 20.2% 39.0% 39.0%
Free-cash-flow margin 14.3% 46.2% −28.4% 28.9% 15.7% 30.9% 15.7%
Free-cash-flow margin, 3-year average 12.2% 54.0% 3.9% 19.0% 12.6% 32.0% 12.6%
Stock pay / revenue 2.2% 4.1% 2.2% 3.9% 1.3% 1.3% 2.2%
Change in share count 2.2% 0.9% 0.6% −3.1% 4.1% −1.1% 0.9%

Median of all 7 companies we cover in other specialized 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.

Who owns it

Funds buying and selling
Reported value
$399M
Institutions reporting
195
Shares held vs prior quarter
▲ 0.6%
Positions opened / closed
28 / 34

Top buyers and sellers, Q2 2026: 91 institutions bought and 110 sold ; the biggest buyer was Western Standard LLC (+1.3M shares) and the biggest seller Irenic Capital Management LP (−567K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $48.3M 6.8M 12.1% ▼ 0.3%
Vanguard Portfolio Management LLC $28.7M 4.1M 7.2% ▲ 0.6%
Vanguard Capital Management LLC $24M 3.4M 6.0% ▼ 3.0%
Mirae Asset Global Etfs Holdings Ltd. $22M 3.1M 5.5% ▲ 3.4%
Irenic Capital Management LP $20.7M 2.9M 5.2% ▼ 16.3%
Geode Capital Management, LLC $16.1M 2.3M 4.0% ▲ 7.6%
Franklin Resources Inc $15.5M 2.2M 3.9% ▲ 0.7%
Invesco Ltd. $13.4M 1.9M 3.4% ▲ 0.6%
State Street Corp $13.1M 1.8M 3.3% ▼ 13.4%
Jane Street Group, LLC $11M 1.5M 2.7% ▲ 15.1%
Ameriprise Financial Inc $10.8M 1.5M 2.7% ▲ 14.7%
Qube Research & Technologies Ltd $10.1M 1.4M 2.5% ▲ 12.2%

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 AH Realty Trust, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $111,825 10 trades by 3 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $111,825 net buying
Insider Date Trade Shares Price Value
Bigman Theodore Director October 8, 2026 Buy 1,879 $5.96 $11,200
Wimbush Frederick Blair Director October 8, 2026 Buy 633 $5.99 $3,789
Wimbush Frederick Blair Director October 7, 2026 Buy 494 $5.96 $2,947
Wittman Lori Director September 28, 2026 Buy 3,000 $5.95 $17,850
Wimbush Frederick Blair Director July 2, 2026 Buy 529 $7.01 $3,711
Wimbush Frederick Blair Director July 1, 2026 Buy 358 $7.00 $2,505
Wimbush Frederick Blair Director April 2, 2026 Buy 669 $5.41 $3,621
Wimbush Frederick Blair Director April 1, 2026 Buy 395 $5.38 $2,128
Wimbush Frederick Blair Director March 3, 2026 Buy 10,000 $6.19 $61,900
Wimbush Frederick Blair Director January 8, 2026 Buy 328 $6.63 $2,175

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 February 16, 2027 estimated from the company's past filing pattern, not announced

  • November 2, 2026
  • August 3, 2026
  • May 4, 2026
  • February 17, 2026
  • November 3, 2025
  • August 4, 2025

Recent SEC filings

Data status

When each part of this page on AH Realty Trust, 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.

AH Realty Trust, Inc. in brief

What does AH Realty Trust, Inc. do?
AH Realty Trust, Inc. is a US-listed company in the other specialized REITs industry. Its financial year ends in December.
What is AH Realty Trust, Inc.'s stock ticker?
AH Realty Trust, Inc. trades under the ticker AHRT on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is AH Realty Trust, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, AH Realty Trust, Inc. reported revenue of $214M, 19.2% lower than a year earlier, according to its SEC filings.
What is AH Realty Trust, Inc.'s free cash flow?
AH Realty Trust, Inc.'s free-cash-flow margin is 14.3% of revenue over the trailing twelve months.
Who are AH Realty Trust, 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.
What is AH Realty Trust, Inc.'s market cap?
On November 2, 2026, AH Realty Trust, Inc.'s market capitalisation was about $505M and net debt of $935M. Market figures come from third-party market data and may be delayed.
Does AH Realty Trust, Inc. pay a dividend?
Yes: AH Realty Trust, Inc. paid $78.6M in dividends over the trailing twelve months, a dividend yield of 16.47%.
How much debt does AH Realty Trust, Inc. have?
AH Realty Trust, Inc.'s debt-to-equity ratio is 180.6%, from its latest balance sheet (165.2% five years earlier). The financial health section below sets out its other solvency checks.
Who are AH Realty Trust, Inc.'s competitors?
In our Other Specialized REITs peer group, the companies closest to AH Realty Trust, Inc. are Innovative Industrial Properties Inc, EPR Properties, Farmland Partners Inc., Outfront Media Inc. and Lamar Advertising Co. The side-by-side comparison below sets their revenue, margins and growth against AH Realty Trust, Inc.'s.
Are insiders buying or selling AH Realty Trust, Inc. stock?
Over the last 12 months, AH Realty Trust, Inc.'s directors and officers reported 10 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is AH Realty Trust, Inc.'s next earnings date?
Around February 16, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — AH Realty Trust, Inc. announces its own schedule.