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American Healthcare REIT, Inc. (NYSE:AHR) Q3 2024 Results Conference Call November 13, 2024 12:00 PM ET Company Participants Alan Peterson - Vice President of Investor Relations & Finance Danny Prosky - President & Chief Executive Officer Gabe Willhite - Chief Operating Officer Stefan Oh - Chief Investment Officer Brian Peay - Chief Financial Officer Conference Call Participants Joshua Dennerlein - Bank of America Austin Wurschmidt - KeyBanc Capital Markets Michael Carroll - RBC Capital Markets Ronald Kamde ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41951 AMERICAN HEALTHCARE REIT, INC. (Exact name of registrant as specified in its charter) Maryland 47-2 ...

EXHIBIT 99.1 Press Release Irvine, CA – November 12, 2024 Contact: Alan Peterson Email: investorrelations@ahcreit.com American Healthcare REIT ("AHR") Announces Third Quarter 2024 Results; Increases Full Year 2024 Guidance American Healthcare REIT, Inc. (the "Company," "we," "our," "management," or "us") (NYSE: AHR) announced today its third quarter 2024 results and updated its full year 2024 guidance, which includes the impact of the Company's recent acquisition to become the sole owner of Trilogy (as defi ...

Core Insights - American Healthcare REIT, Inc. reported a GAAP net loss of $(3.1) million for Q3 2024, with a loss attributable to common stockholders of $(0.03) per diluted share [2] - The company achieved a Normalized Funds from Operations (NFFO) of $0.36 per diluted share for the same period [2] - Total portfolio Same-Store Net Operating Income (NOI) grew by 17.0% compared to Q3 2023, driven by significant growth in senior housing operating properties [2][3] - The company has revised its total portfolio Same-Store NOI growth guidance for 2024 from 12.0%-14.0% to 15.0%-17.0% [2] - Recent acquisitions include a senior housing portfolio in Washington for approximately $36.2 million and the remaining 24% interest in Trilogy Holdings for about $258 million [2][6] Financial Performance - The company reported total revenues of $523.8 million for Q3 2024, an increase from $464.2 million in Q3 2023 [20] - Property operating expenses totaled $417.1 million, compared to $374.6 million in the prior year [20] - The company’s total indebtedness stood at $1.90 billion as of September 30, 2024, with a Net-Debt-to-Annualized Adjusted EBITDA ratio of 5.1x [7] Guidance and Outlook - NFFO guidance for the year ending December 31, 2024, has been increased to a range of $1.40 to $1.43 per share, up from $1.23 to $1.27 [2][5] - The company expects to continue expanding its Integrated Senior Health Campuses (ISHC) segment and pursue external growth within its Senior Housing Operating Properties (SHOP) segment [2] Capital Markets Activity - A follow-on equity offering raised approximately $471.2 million, with net proceeds used for acquisitions and debt repayment [7] - The company has improved its liquidity position, with approximately $1.07 billion in total liquidity as of September 30, 2024 [7] Distributions - The Board of Directors declared a cash distribution of $0.25 per share for Q3 2024, paid on October 18, 2024 [8]

Core Viewpoint - American Healthcare REIT, Inc. (AHR) is expected to report third-quarter 2024 results on Nov. 12, with anticipated year-over-year revenue growth but a potential decline in normalized funds from operations (FFO) per share [1][8]. Financial Performance - In the last reported quarter, AHR delivered a normalized FFO per share of 33 cents, exceeding the Zacks Consensus Estimate by 13.8%, with year-over-year growth in total portfolio same-store net operating income (NOI) [2][3]. - The Zacks Consensus Estimate for third-quarter resident fees and services is $463.3 million, up from $416.2 million in the prior year, while total revenues are projected at $512.9 million, indicating a 10.5% increase [7]. - The estimate for third-quarter real estate revenues is $46.9 million, reflecting a slight decrease from $47 million reported in the previous year [8]. Market Dynamics - AHR's portfolio includes clinical healthcare real estate properties, focusing on medical office buildings, senior housing, skilled nursing facilities, and hospitals, which likely experienced healthy demand in the third quarter [3]. - The integrated senior health campuses segment is expected to perform well, enhancing care access for residents [4]. - The senior housing operating portfolio (SHOP) is anticipated to benefit from an aging U.S. population and increased healthcare expenditure, contributing to high occupancy rates [5]. Challenges - High interest expenses are expected to negatively impact AHR's performance during the third quarter [6]. - The Zacks Consensus Estimate for normalized FFO per share has remained unchanged at 32 cents, indicating an 8.6% decrease from the previous year's figure [8][10]. Comparative Performance - Other healthcare REITs, such as Ventas, Inc. and Healthpeak Properties, Inc., reported positive results, with Ventas achieving a normalized FFO per share of 80 cents, a 6.7% increase year-over-year, and Healthpeak reporting 45 cents, beating estimates by a penny [11][12].

Core Viewpoint - Chilton Capital Management's REIT Team focuses on investments in publicly traded real estate investment trusts (REITs) and related entities primarily in North America, emphasizing the advantages of liquidity, transparency, and total return characteristics of public REITs [1] Group 1: Team and Strategy - The REIT Team is led by co-portfolio managers Bruce Garrison and Matt Werner, with Garrison having over 40 years of experience in public REIT analysis [1] - The investment strategy combines real estate industry experience with traditional security selection methods to make informed investment decisions [1] - The REIT Team manages Separately Managed Accounts (SMAs) for high net worth individuals and institutions, and serves as a sub-advisor for the West Loop Realty Fund [1] Group 2: Investment Focus - The REIT Team invests in a variety of property types, including apartments, regional malls, shopping centers, lodging, office, industrial, self-storage, data centers/cell towers, and healthcare-related facilities [1] - The focus on public securities allows for diversification across geography, sector, strategy, property, and tenant while maintaining portfolio liquidity [1] Group 3: Company Background - Chilton Capital Management, established in 1996, provides investment advisory services for registered investment companies, private clients, family offices, endowments, foundations, retirement plans, and trusts [1] - The firm is independently owned and operated, with additional information available on the SEC's website [1]

Group 1 - The stock of American Healthcare REIT, Inc. (AHR) is experiencing significant attention due to high implied volatility in the options market, particularly the Jan 17, 2025 $15.00 Put option [1] - Implied volatility indicates the market's expectation of future price movement, suggesting that investors anticipate a significant change in the stock's price, potentially due to an upcoming event [2] - American Healthcare REIT, Inc. holds a Zacks Rank 1 (Strong Buy) in the REIT and Equity Trust - Other industry, which is in the top 32% of the Zacks Industry Rank, indicating positive analyst sentiment [3] Group 2 - Over the past 60 days, two analysts have raised their earnings estimates for the current quarter, while one has lowered theirs, resulting in a net increase in the Zacks Consensus Estimate from 31 cents to 32 cents per share [3] - The high implied volatility may indicate a developing trading opportunity, as options traders often seek to sell premium on options with high implied volatility, aiming for the underlying stock to not move as much as expected at expiration [4]

Dzmitry Dzemidovich REIT Performance The REIT sector was in the black for the 5th month in a row in September with a +3.09% average total return. REITs outpaced the NASDAQ (+2.8%), S&P 500 (+2.1%) and Dow Jones Industrial Average (+2.0%) in September. The market cap weighted Vanguard Real Estate ETF (VNQ) slightly outperformed the average REIT in September (+3.27% vs. +3.09%) and has significantly outperformed year-to-date (+13.53% vs. +9.61%). The spread between the 2024 FFO multiples of large cap REITs (2 ...

IRVINE, Calif., Oct. 3, 2024 /PRNewswire/ -- American Healthcare REIT, Inc. (the "Company") (NYSE: AHR) announced today that it will issue its third quarter 2024 earnings release on Tuesday, November 12, 2024, after the close of trading. A public conference call with a simultaneous webcast will be held on Wednesday, November 13, 2024, at 10:00 a.m. Pacific Time / 1:00 p.m. Eastern Time. During the conference call, company executives will review third quarter 2024 results, discuss recent events and conduct a ...