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]

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 analysis methods, including research and analytical depth [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]