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Mar 31
American Healthcare REIT Inc Q1 2025 Earnings Report
American Healthcare REIT Inc. announced its first quarter 2025 results, reporting a net loss of $(6.8) million and increasing its full year 2025 guidance.
Key Takeaways
American Healthcare REIT, Inc. reported a GAAP net loss of $(6.8) million for the first quarter of 2025, or $(0.04) per diluted share. Despite a challenging winter, the company achieved strong Same-Store Net Operating Income (NOI) growth of 15.1% across its total portfolio, driven by robust performance in its Integrated Senior Health Campuses (ISHC) and Senior Housing Operating Properties (SHOP) segments. The company also successfully raised capital through its ATM program and increased its full-year 2025 guidance for both Same-Store NOI growth and Normalized Funds from Operations (NFFO).
Reported GAAP net loss attributable to controlling interest of $(6.8) million and GAAP net loss attributable to common stockholders of $(0.04) per diluted share for the three months ended March 31, 2025.
Achieved total portfolio Same-Store Net Operating Income (NOI) growth of 15.1% for the three months ended March 31, 2025, compared to the same period in 2024.
Increased total portfolio Same-Store NOI growth guidance for the year ending December 31, 2025, by 250 basis points at the midpoint from a range of 7.0%-10.0% to a revised range of 9.0%-13.0%.
Issued 1,577,113 shares of common stock through its at-the-market equity offering program for gross proceeds of approximately $47.7 million during the three months ended March 31, 2025.
American Healthcare REIT Inc
American Healthcare REIT Inc
American Healthcare REIT Inc Revenue by Segment
Revenue by Segment
Integrated Senior Health Campuses Revenue
CapyFin.comOutpatient Medical Revenue
CapyFin.comSenior Housing Operating Properties Revenue
CapyFin.comTriple-Net Leased Properties Revenue
CapyFin.com Forward Guidance
American Healthcare REIT, Inc. is increasing its full year 2025 guidance for both total portfolio Same-Store NOI growth and Normalized FFO per diluted share, reflecting improved operational outlook, capital markets activity, and capital allocation executed in Q1 2025.
Positive Outlook
- Increased total portfolio Same-Store NOI growth guidance to a revised range of 9.0% to 13.0% (midpoint 11.0%), up from 7.0% to 10.0%.
- Increased NFFO per diluted share guidance to a revised range of $1.58 to $1.64 (midpoint $1.61), up from $1.56 to $1.60.
- ISHC segment Same-Store NOI growth guidance increased to 12.0% to 16.0% (midpoint 14.0%), up from 10.0% to 12.0%.
- SHOP segment Same-Store NOI growth guidance increased to 20.0% to 24.0% (midpoint 22.0%), up from 18.0% to 22.0%.
- Accretive capital markets activity completed during the first quarter of 2025 contributed to increased NFFO expectations.
Challenges Ahead
- Guidance does not assume additional transaction or capital markets activity beyond the items previously disclosed or items disclosed in this earnings release.
- The company cannot guarantee that awarded potential acquisitions will close or provide certainty regarding timing of closing.
- The guidance for Outpatient Medical Same-Store NOI growth remains flat at 0.0% (range -1.0% to 1.0%).
- The guidance for Triple-Net Leased Properties Same-Store NOI growth remains negative at -1.0% (range -1.5% to -0.5%).
- The company's GAAP net income per diluted share guidance remains relatively low at $0.29 to $0.35 (midpoint $0.32).