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Dec 31, 2024
American Healthcare REIT Inc Q4 2024 Earnings Report
American Healthcare REIT reported a GAAP net loss in Q4 2024 but delivered strong Same-Store NOI growth, particularly in senior housing.
Key Takeaways
American Healthcare REIT reported a GAAP net loss of $31.8 million in Q4 2024, equating to a loss of $0.21 per share. However, the company achieved strong Same-Store NOI growth of 21.6% for the quarter, driven by the senior housing operating properties (SHOP) segment, which grew 66.6%. The company also raised $120.2 million in equity through its at-the-market (ATM) program.
GAAP net loss of $31.8 million, or $0.21 per share.
Same-Store NOI grew 21.6% year-over-year, led by SHOP and ISHC segments.
The company raised $120.2 million in equity through the ATM program.
Total liquidity reached $984.3 million, supporting future growth initiatives.
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
AHR expects continued growth in 2025, with projected Same-Store NOI growth between 7.0% and 10.0%, and NFFO per share increasing to a range of $1.56 to $1.60.
Positive Outlook
- Projected NFFO per share guidance of $1.56 to $1.60 for 2025.
- Same-Store NOI expected to grow between 7.0% and 10.0%.
- SHOP segment expected to grow between 18.0% and 22.0%.
- Improved Net Debt-to-Annualized Adjusted EBITDA ratio of 4.3x.
- Planned acquisitions and expansions in senior housing investments.
Challenges Ahead
- Continued GAAP net losses expected due to depreciation expenses.
- Potential market headwinds in outpatient medical properties.
- Interest expenses remain a concern despite refinancing efforts.
- Possible challenges in occupancy growth for certain property segments.
- Competitive pressures in senior housing and healthcare real estate.