Financial Data and Key Metrics Changes - The company reported normalized funds from operations (NFFO) of $0.38 per fully diluted share, representing an increase of over 26% compared to Q1 2024 [27] - The net debt to annualized adjusted EBITDA stood at 4.5 times at the end of the quarter [31] - Full year 2025 same store NOI growth targets were raised to a new range of 9% to 13% from a prior range of 7% to 10% [29] Business Line Data and Key Metrics Changes - The company achieved 15.1% same store NOI growth year over year in Q1 2025, driven by strong performance in the Trilogy and SHOP segments [10][14] - Trilogy reported a same store NOI growth of 19.8%, while the SHOP segment saw a growth of 30.7% in Q1 2025 [15] - The Trilogy segment's full year same store NOI growth guidance was revised upward to a range of 12% to 16% from a previous range of 10% to 12% [29] Market Data and Key Metrics Changes - The company noted a sharp uptick in move-ins since the end of Q1, indicating strong demand in the assisted living market [11] - The company experienced strong revenue optimization, leading to an 8.8% year-over-year revenue growth in the SHOP segment [18] Company Strategy and Development Direction - The company is focused on expanding its operating portfolio through strategic partnerships with market leaders and identifying new growth opportunities [12] - The company aims to maintain a hands-on asset management approach to drive strong performance across its operating portfolio [12] - The company is actively selling off non-core, lower growth assets to reallocate capital towards higher growth opportunities [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued growth of the senior housing industry, benefiting from favorable long-term fundamentals [11] - The company anticipates strong demand for assisted living care as it moves into the warmer months [11] - Management highlighted the importance of quality care and operational efficiency as key drivers for future success [19] Other Important Information - The company successfully closed several investments, including a $65 million acquisition in the Mid Atlantic region [21] - The company has a pipeline of over $300 million in potential acquisitions, primarily in the operating portfolio segments [22] Q&A Session Summary Question: Can you provide more detail on the expected close and stages of the pipeline? - Management indicated that the pipeline has ramped up quickly, with expected closings mostly in the fourth quarter [35][36] Question: How is the company thinking about its MOB and triple net portfolio? - Management noted a conscious decision to reduce the size of the MOB portfolio, focusing on better risk-adjusted returns in long-term care [40][41] Question: Can you share details on the investment pipeline and deal economics? - The pipeline consists of over $300 million, primarily newer buildings with attractive pricing and yields [48][49] Question: What is the outlook for Trilogy's rates and occupancy? - Management expects inflationary increases in Medicaid rates and a potential for outperformance based on quality measures [62] Question: How is the company addressing the current demand and pricing strategies? - Management highlighted a reduction in concessions and dynamic pricing strategies to capture demand effectively [74][76]

Financial Data and Key Metrics Changes - The company reported normalized funds from operations (NFFO) of $0.38 per fully diluted share, representing an increase of over 26% compared to Q1 2024 [25] - The net debt to annualized adjusted EBITDA stood at 4.5 times at the end of the quarter [11][28] - Full year 2025 same store NOI growth targets were increased to a range of 9% to 13% from a prior range of 7% to 10% [26] Business Line Data and Key Metrics Changes - The company achieved 15.1% same store NOI growth year over year in Q1 2025, driven by the operating portfolio, particularly the Trilogy and SHOP segments [8][12] - Trilogy reported a year-over-year same store NOI growth of 19.8%, while SHOP experienced a growth of 30.7% in Q1 2025 [12] - The Trilogy segment's same store NOI growth guidance was revised upward to a range of 12% to 16% from a previous range of 10% to 12% [27] Market Data and Key Metrics Changes - The company noted a sharp uptick in move-ins since the end of Q1, indicating strong demand in the assisted living market [9][70] - The company is experiencing favorable fundamentals in the senior housing industry, benefiting from a multi-year tailwind [9] Company Strategy and Development Direction - The company is focused on delivering high-quality care and improving health outcomes, which is central to its operational strategy [6][7] - The investments team is actively identifying new growth opportunities and has a pipeline of over $300 million in potential acquisitions [20] - The company is prioritizing partnerships with market leaders and expanding its operator base to enhance growth opportunities [10][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth across the operating portfolio, particularly as demand for assisted living care increases in warmer months [9] - The company anticipates that the senior housing industry will continue to benefit from favorable demographics and demand trends [9][15] - Management highlighted the importance of quality care and operational efficiency as key drivers for future success [95] Other Important Information - The company successfully closed a lease buyout of a Trilogy campus for approximately $16.1 million and acquired a $65 million SHOP community [19] - The company raised approximately $48 million through its ATM program at an average price of $30.22 per share [25] Q&A Session Summary Question: Can you provide more detail on the investment pipeline and expected close? - Management indicated that the pipeline is robust, with transactions expected to close mostly in the fourth quarter, depending on regulatory approvals [33][34] Question: How is the company thinking about its MOB and triple net portfolio? - The company has been selling off non-core MOB assets, focusing on higher risk-adjusted returns in long-term care [38][41] Question: Can you share details on the investment pipeline's competitiveness and economics? - The pipeline consists of over $300 million, primarily newer buildings, with attractive pricing and yields [46][47] Question: What is the expected impact of tariffs on the business? - Management believes the company is well-positioned to handle potential impacts from tariffs, with a focus on maintaining pricing power [76][79] Question: Can you elaborate on the recent uptick in move-ins and pricing strategies? - The company has seen a significant increase in move-ins, with a focus on reducing concessions and implementing dynamic pricing strategies [70][72] Question: How does Trilogy support SHOP operational efficiency? - Trilogy provides resources such as revenue management and training to regional operators, enhancing overall operational efficiency [95][96]

Portfolio Overview - The company's total annualized cash NOI is $405.128 million, with ISHC contributing $239.768 million (59.2%), OM contributing $81.172 million (20.0%), SHOP contributing $48.364 million (11.9%), Triple-Net Leased Properties contributing $29.900 million (7.4%), and Debt Security Investment contributing $5.924 million (1.5%) [10] - The portfolio consists of 294 properties, including 125 Integrated Senior Health Campuses (ISHC), 81 Outpatient Medical (OM) properties, 69 Senior Housing Operating Properties (SHOP), and 19 Triple-Net Leased Properties [10] Same-Store NOI Performance - Total Same-Store NOI increased by 15.1% from $82.067 million in Q1 2024 to $94.476 million in Q1 2025 [11] - ISHC Same-Store NOI increased by 19.8% from $49.086 million to $58.820 million [11] - SHOP Same-Store NOI increased significantly by 30.7% from $7.867 million to $10.286 million [11] - OM Same-Store NOI increased by 2.0% from $17.870 million to $18.227 million [11] - Triple-Net Leased Properties Same-Store NOI decreased slightly by 1.4% from $7.244 million to $7.143 million [11] Earnings Highlights - NAREIT FFO per share - diluted increased by 16.7% from $0.30 in Q1 2024 to $0.35 in Q1 2025 [12] - Normalized FFO per share - diluted increased by 26.7% from $0.30 in Q1 2024 to $0.38 in Q1 2025 [12] 2025 Guidance - The company projects a FY 2025 Total Portfolio Same-Store NOI Growth between 9.0% and 13.0% [48] - The company anticipates NAREIT FFO per diluted share between $1.49 and $1.55, and Normalized FFO per diluted share between $1.58 and $1.64 for FY 2025 [48]

Core Insights - American Healthcare REIT (AHR) reported revenue of $540.6 million for Q1 2025, marking an 8.2% year-over-year increase and exceeding the Zacks Consensus Estimate of $538.59 million by 0.37% [1] - The company achieved an EPS of $0.38, a significant improvement from -$0.04 a year ago, and surpassed the consensus EPS estimate of $0.37 by 2.70% [1] Revenue Breakdown - Resident fees and services generated $497.18 million, slightly above the average estimate of $495.43 million from two analysts [4] - Real estate revenue was reported at $43.43 million, which fell short of the average estimate of $44.43 million from two analysts [4] Stock Performance - Over the past month, shares of American Healthcare REIT have returned +12.3%, outperforming the Zacks S&P 500 composite's +11.3% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

American Healthcare REIT (AHR) came out with quarterly funds from operations (FFO) of $0.38 per share, beating the Zacks Consensus Estimate of $0.37 per share. This compares to FFO of $0.30 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 2.70%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.40 per share when it actually produced FFO of $0.40, delivering no surprise.Over the last four quar ...

Financial Performance - Reported GAAP net loss attributable to common stockholders of $(0.04) per diluted share for Q1 2025[5] - Net loss attributable to controlling interest for the three months ended March 31, 2025, was $6,804,000, compared to a net loss of $3,892,000 for the same period in 2024, indicating a deterioration in performance[33] - Net loss for Q1 2025 was $6,840,000, compared to a net loss of $3,004,000 in Q1 2024, representing an increase in loss of 128.5%[40] - The company reported a comprehensive loss of $6,664,000 for the three months ended March 31, 2025, compared to a comprehensive loss of $3,047,000 in the same period of 2024[33] Revenue and Income Growth - Total revenues for the three months ended March 31, 2025, increased to $540,603,000, up from $499,533,000 in the same period of 2024, representing an increase of approximately 8.2%[33] - Same-store revenue for Q1 2025 was $410,234,000, up from $377,787,000 in Q1 2024, an increase of 8.6%[53] - GAAP revenue for Q1 2025 was $540,603,000, compared to $499,533,000 in Q1 2024, reflecting a growth of 8.2%[53] - Net operating income (NOI) for Q1 2025 was $94,537,000, up from $82,177,000 in Q1 2024, reflecting a growth of 15.0%[46] - Achieved Same-Store Net Operating Income (NOI) growth of 15.1% for Q1 2025 compared to Q1 2024[5] - Cash NOI for Q1 2025 reached $101,026,000, compared to $90,046,000 in Q1 2024, marking a growth of 12.2%[46] - Adjusted EBITDA for Q1 2025 was $85,083,000, compared to $58,267,000 in Q1 2024, indicating an increase of 46.0%[38] Guidance and Projections - Increased total portfolio Same-Store NOI growth guidance for FY 2025 to a range of 9.0% to 13.0%[5] - Increased NFFO guidance for FY 2025 to a range of $1.58 to $1.64 per diluted share[5] - Full Year 2025 guidance for net income attributable to common stockholders is projected between $46.70 million and $56.10 million, up from the prior guidance of $40.59 million to $46.71 million[57] - NAREIT FFO attributable to common stockholders is expected to range from $236.40 million to $245.80 million, compared to the previous range of $233.08 million to $239.20 million[57] - Total Portfolio Same-Store NOI growth is forecasted between 9.0% and 13.0%, an increase from the prior range of 7.0% to 10.0%[57] - ISHC segment-level Same-Store NOI growth is anticipated to be between 12.0% and 16.0%, up from 10.0% to 12.0% previously[57] - SHOP segment-level Same-Store NOI growth is projected to be between 20.0% and 24.0%, compared to the prior range of 18.0% to 22.0%[57] - Normalized FFO attributable to common stockholders is expected to be between $250.60 million and $260.00 million, an increase from the previous range of $244.19 million to $250.31 million[57] - Net income per common share — diluted is projected to be between $0.29 and $0.35, compared to the prior range of $0.26 to $0.30[57] - NAREIT FFO per common share — diluted is expected to range from $1.49 to $1.55, consistent with the previous range of $1.49 to $1.53[57] - Normalized FFO per common share — diluted is projected to be between $1.58 and $1.64, compared to the prior range of $1.56 to $1.60[57] Expenses and Liabilities - General and administrative expenses increased to $13,155,000 in Q1 2025 from $11,828,000 in Q1 2024, a rise of 11.2%[40] - Interest expense decreased to $22,945,000 in Q1 2025 from $36,438,000 in Q1 2024, a reduction of 37.0%[40] - Business acquisition expenses were $1,837,000 in Q1 2025, down from $2,782,000 in Q1 2024, a decrease of 34.0%[40] - Total liabilities decreased to $2,159,343,000 as of March 31, 2025, from $2,183,895,000 as of December 31, 2024, a reduction of approximately 1.1%[28] Assets and Indebtedness - Total consolidated indebtedness was $1.67 billion as of March 31, 2025[11] - Cash and cash equivalents as of March 31, 2025, were $86,064,000, an increase from $76,702,000 as of December 31, 2024, showing a growth of approximately 12.8%[28] - Total assets decreased to $4,464,051,000 as of March 31, 2025, from $4,488,057,000 as of December 31, 2024, a decline of approximately 0.5%[28] Acquisitions and Developments - Developed a pipeline of over $300 million in new potential acquisitions as of May 8, 2025[8] - Started two new development projects with a total expected cost of approximately $60.0 million[9] - Completed a lease buyout in the ISHC segment for approximately $16.1 million during Q1 2025[10] Shareholder Information - Declared a cash distribution of $0.25 per share for the quarter ended March 31, 2025[15] - The weighted average number of diluted common shares outstanding increased to 157,428,446 for the three months ended March 31, 2025, compared to 104,295,142 in 2024, indicating a significant increase in share count[34] - Issued 1,577,113 shares of common stock through the ATM program for gross proceeds of approximately $47.7 million[12] Impairments - Impairment of real estate investment was reported at $21,706,000 in Q1 2025, with no such impairment recorded in Q1 2024[40]

Core Insights - American Healthcare REIT, Inc. reported strong performance in Q1 2025, with a Same-Store NOI growth of 15.1% compared to Q1 2024, driven by demand for long-term care and effective expense management [4][8][14] - The company has increased its full-year 2025 guidance for Same-Store NOI growth from a range of 7.0% to 10.0% to a revised range of 9.0% to 13.0% [8][14] - The company has a pipeline of over $300 million in potential acquisitions, indicating a proactive approach to external growth opportunities [6][8] Financial Performance - The company reported a GAAP net loss of $(6.8) million for Q1 2025, with a net loss per diluted share of $(0.04) [8][29] - Normalized Funds from Operations (NFFO) for Q1 2025 were reported at $0.38 per diluted share, reflecting a strong operational performance [8][32] - Total revenues for Q1 2025 increased to $540.6 million from $499.5 million in Q1 2024, primarily due to higher resident fees and services [29][40] Segment Performance - The ISHC segment achieved a Same-Store NOI growth of 19.8%, while the SHOP segment saw a growth of 30.7% in Q1 2025 compared to the same period in 2024 [5][8] - The outpatient medical segment reported a modest Same-Store NOI growth of 2.0%, while the triple-net leased properties experienced a decline of (1.4)% [5][8] Capital Markets and Balance Sheet - As of March 31, 2025, the company's total consolidated indebtedness was $1.67 billion, with a Net Debt-to-Annualized Adjusted EBITDA ratio of 4.5x [11][8] - The company raised approximately $47.7 million through the issuance of 1,577,113 shares of common stock during Q1 2025 [12][8] - The company has approximately $634.5 million in total liquidity, which includes cash, restricted cash, and undrawn capacity on its line of credit [11][8] Development and Transactional Activity - The company initiated two new development projects during Q1 2025, with a total expected cost of approximately $60.0 million [10][8] - A lease buyout in the ISHC segment was completed for approximately $16.1 million, and several non-core properties were sold for a total of approximately $39.0 million [9][8]

IRVINE, Calif., April 3, 2025 /PRNewswire/ -- American Healthcare REIT, Inc. (the "Company") (NYSE: AHR) announced today that it will issue its first quarter 2025 earnings release on Thursday, May 8, 2025, after the close of trading.A public conference call with a simultaneous webcast will be held on Friday, May 9, 2025, at 10:00 a.m. Pacific Time / 1:00 p.m. Eastern Time. During the conference call, company executives will review first quarter 2025 results, discuss recent events, and conduct a question-and ...

Core Insights - The article does not provide any specific company or industry insights, focusing instead on disclaimers and disclosures related to investment advice and positions held by the authors [1][2][3] Group 1 - The authors have no stock, option, or similar derivative positions in any of the companies mentioned and have no plans to initiate such positions within the next 72 hours [1] - The content is based on personal thoughts and research, emphasizing the need for readers to conduct their own due diligence before making investment decisions [2] - The article clarifies that past performance is not indicative of future results and that no specific investment recommendations are being made [3]

Core Viewpoint - American Healthcare REIT, Inc. has declared a quarterly distribution of $0.25 per share for the quarter ending March 31, 2025, payable on or about April 17, 2025 [1] Company Overview - American Healthcare REIT, Inc. is a real estate investment trust that focuses on acquiring, owning, and operating a diversified portfolio of clinical healthcare real estate, primarily targeting senior housing communities, skilled nursing, and outpatient medical buildings across the United States, the United Kingdom, and the Isle of Man [2]