$AHR · American Healthcare REIT, Inc.
American Healthcare REIT reported Q3 FY2026 results: GAAP net income attributable to controlling interest of $31.2M ($0.14/diluted share) on revenue of $742.1M, with NFFO of $0.58 per diluted share. Total portfolio Same-Store NOI grew 13.8%, led by SHOP at 28.2% and ISHC at 15.7%. The company raised full-year 2026 guidance for NFFO per share to $2.23–$2.26 and Same-Store NOI growth to 12.0%–14.0%.
- Revenue rose to $742.1M in Q3 2026 from $572.9M a year earlier.
- GAAP net income attributable to controlling interest was $31.2M, or $0.14 per diluted share.
- NFFO was $0.58 per diluted share; FY26 NFFO guidance raised to $2.23–$2.26.
- Total portfolio Same-Store NOI grew 13.8% in Q3, with SHOP up 28.2%.
- Net Debt-to-Annualized Adjusted EBITDA improved to 1.9x from 2.5x at June 30, 2026.
Extended-hours last trade $57.50, up +2.61% vs the $56.04 regular close, signaling a positive reaction to the guidance raise and strong Same-Store NOI growth.
AHR delivered outsized Same-Store NOI growth and raised full-year guidance, reinforcing its position as a high-growth senior housing consolidator.
Senior housing REITs are benefiting from favorable supply/demand and pricing power; AHR's 28.2% SHOP Same-Store NOI growth stands out versus peers.
The over $1.0B investment pipeline is excluded from 2026 guidance and closings cannot be guaranteed; forward sale agreements add potential dilution of 24.6M shares (~$1.32B gross proceeds).