- American Healthcare REIT (AHR, Financial) reports a 15.1% increase in Same-Store NOI for Q1 2025.
- AHR raises $47.7 million through its at-the-market equity offering program (ATM).
- Company revises full-year 2025 guidance, increasing NFFO to $1.58-$1.64 per share.
American Healthcare REIT (AHR) announced strong financial results for the first quarter of 2025, with a significant increase in Same-Store Net Operating Income (NOI) growth of 15.1%. This growth was driven by exceptional performance within the senior housing operating properties (SHOP) and integrated senior health campuses (ISHC) segments, which grew by 30.7% and 19.8%, respectively.
The company reported a GAAP net loss of $0.04 per diluted share but achieved a Normalized Funds From Operations (NFFO) of $0.38 per share. AHR completed strategic transactions, including a $16.1 million lease buyout, which positively impacted the financial results.
In Q1 2025, AHR successfully raised approximately $47.7 million through its at-the-market (ATM) equity offering program by issuing 1,577,113 shares at an average price of $30.22 per share. This capital raise supports the company's robust pipeline of over $300 million in potential acquisitions.
The company increased its full-year 2025 guidance, raising its Same-Store NOI growth projection by 250 basis points to a range of 9.0% to 13.0%. Additionally, it adjusted its NFFO guidance to $1.58-$1.64 per share, reflecting improved expectations for NOI growth and capital markets activities.
AHR's balance sheet remains healthy with a Net Debt-to-Annualized Adjusted EBITDA of 4.5x and total liquidity of $634.5 million as of March 31, 2025. The company also declared a quarterly cash distribution of $0.25 per share for Q1 2025, paid on April 17, 2025.
