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American Healthcare REIT, Inc. (AHR)
NYSE:AHR
Earnings Data
Report Date
May 18, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.16Last Year’s EPS
-0.04Same Quarter Last Year
Strong Buy
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational momentum and financial results: double-digit same-store NOI growth across the portfolio in 2025, significant NFFO-per-share growth (22% YoY), active accretive acquisition activity (~$950M in 2025) and constructive 2026 guidance (NFFO $1.99–$2.05). Management emphasized continuity of strategy and several durable tailwinds (occupancy gains, improved payer mix, margin expansion, limited new supply). Key risks discussed were a measured deceleration in same-store growth from 2025 highs to 2026 guidance ranges, early-stage rollout of revenue-management initiatives, increased transaction competition and certain execution/leverage caveats (unsettled forward equity). On balance, the positive operational and capital markets execution substantially outweigh the manageable risks.Company Guidance
Strong Same-Store NOI Performance
Total portfolio same-store NOI growth of 11.8% in Q4 2025 and 14.2% for full-year 2025, marking a second consecutive year of double-digit same-store NOI growth.
Trilogy Segment Outperformance
Trilogy same-store NOI +14.0% in Q4 and +18.4% for full-year 2025; same-store occupancy reached 90.6% (up ~275 basis points YoY); Medicare/Medicare Advantage mix improvements delivered ~220 basis points of quality-mix improvement.
SHOP Segment Leading Growth
SHOP same-store NOI +24.6% in Q4 and +25.2% for full-year 2025; same-store occupancy ~90.6% (up ~290 basis points YoY); SHOP delivered the strongest portfolio growth and is expected to lead in 2026.
Margin Expansion and Operating Leverage
NOI margin expansion: Trilogy margins expanded ~130 basis points and SHOP margins expanded ~280 basis points in 2025 vs. 2024; management cited high operating leverage as occupancies rose toward ~90%.
Strong NFFO Results and Guidance
Normalized FFO (NFFO) of $0.46 per diluted share in Q4 and $1.72 per diluted share for FY2025 (+22% YoY NFFO per share growth). 2026 NFFO guidance of $1.99–$2.05 per diluted share (implying another year of double-digit NFFO per share growth).
2026 Same-Store NOI Guidance
Company guidance for 2026 total portfolio same-store NOI growth of 7%–11% with segment ranges: Trilogy 8%–12%, SHOP 15%–19%, Outpatient Medical 0%–2%, Triple-Net Leased 2%–3%.
Active and Accretive Capital Deployment
Closed over $950 million of new investments in 2025 (including ~$665 million closed in Q4). Early 2026 closings of ~$117.5 million and a pipeline of over $230 million; acquisitions largely relationship-sourced and targeted at higher-acuity and newer assets.
Balance Sheet and Capital Markets Execution
Improved leverage (debt-to-EBITDA improved nearly a full turn in 2025); reported net debt-to-EBITDA of 3.4x entering 2026 (excluding ~$287 million of unsettled forward agreements). Opportunistic equity issuance (ATM and November follow-on) used to fund acquisitions and development.
Platform & Development Advantages
Operating portfolio (Trilogy + SHOP) contributes ~76.9% of consolidated cash NOI; Trilogy development/expansion pipeline prioritized to generate incremental yields with limited market risk; new supply remains historically low (<1% deliveries), supporting long-term demand/supply dynamics.
Revenue Management & Operator Alignment
Piloting revenue management tools (originating from Trilogy) across SHOP operators to capture pricing power and improve RevPOR; management alignment via LTIP and equity-based incentives to share platform improvements.
AHR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
AHR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 26, 2026 | $53.19 | $52.24 | -1.79% |
Nov 06, 2025 | $47.92 | $49.42 | +3.13% |
Aug 07, 2025 | $39.62 | $40.27 | +1.64% |
May 08, 2025 | $31.80 | $34.48 | +8.43% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does American Healthcare REIT, Inc. (AHR) report earnings?
American Healthcare REIT, Inc. (AHR) is schdueled to report earning on May 18, 2026, After Close (Confirmed).
What is American Healthcare REIT, Inc. (AHR) earnings time?
American Healthcare REIT, Inc. (AHR) earnings time is at May 18, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AHR EPS forecast?
AHR EPS forecast for the fiscal quarter 2026 (Q1) is 0.16.