Analyst Consensus ?
ConsensusBuy12 ratings
Bullish12100.0%
Neutral00.0%
Bearish00.0%
American Healthcare REIT, Inc. · AHR · FY2025 Q3 · Calendar Q4 2025
AHR: Strong senior-housing growth, higher guidance, and execution risks
The supplied analysis supports a constructive operating thesis for AHR: resilient senior-housing demand, occupancy above 90%, higher guidance, acquisitions, and deleveraging provide evidence of growth. The thesis remains conditional on executing the acquisition and development pipeline without losing pricing power or facing weaker reimbursement trends.
Reported After market closeNYSEReal Estate
$10.48B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.33
Consensus $0.42
EPS surprise
-21.4%
Reported versus consensus
Reported revenue
$572.9M
Consensus $615.4M
Revenue surprise
-6.9%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+3.1%
Event window
SPY move
+0.1%
Same window
Abnormal move
+3.0%
Stock minus SPY
Volume
2.0×
Versus trailing sessions
Subsequent drift
+0.8%
Up to 20 sessions
AHRSPY benchmark
Ask FN2 about AHR FY2025 Q3
Transcript, numbers and history already loaded
Why did AHR rise 3.1% after missing EPS estimates in FY2025 Q3?What changed in AHR's guidance and outlook in FY2025 Q3?Give me the bull and bear case for AHR after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, AHR showed stronger portfolio same-store NOI growth, occupancy above 90%, a higher 2025 normalized FFO guidance range, continued acquisitions, and lower net leverage. The current analysis also highlights new operator partnerships and broader use of revenue-management tools.
Guidance delta
Management raised 2025 normalized FFO guidance to $1.69-$1.72 per share; the prior analysis also characterized guidance as raised.
Key takeaways
- Same-store NOI grew 16.4% portfolio-wide, with Trilogy up 21.7% and SHOP up 25.3% year over year.
- Occupancy exceeded 90% in both Trilogy and SHOP, supporting pricing power.
- Management raised 2025 normalized FFO guidance to $1.69-$1.72 per share, implying more than 20% year-over-year growth.
- The company reported more than $575 million of year-to-date acquisition activity and an awarded pipeline above $450 million.
- Net debt to EBITDA declined to 3.5x while management continued to pursue growth.
Management priorities
- Close the awarded acquisition pipeline by the end of 2025 or early 2026.
- Advance development projects with $177 million of planned spend.
- Extend Trilogy's revenue-management system to additional SHOP operators.
- Add regional operator partners while continuing to deleverage below 4x net debt to EBITDA.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$50.75Current
$28Low
$55.88Average
$70High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 3, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Scotiabank | Sector Outperform | Sector Outperform | Maintain | Sep 2, 2026 |
| Barclays | Overweight | Overweight | Maintain | Aug 31, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Aug 19, 2026 |
| Truist Securities | Buy | Buy | Maintain | Aug 14, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Aug 14, 2026 |
| Citigroup | Buy | Buy | Maintain | Aug 13, 2026 |
| Citizens | Market Outperform | Market Outperform | Maintain | Jul 27, 2026 |
| UBS | Buy | Buy | Maintain | Jul 8, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Nov 20, 2025 |
| JMP Securities | Market Outperform | Market Outperform | Maintain | Oct 17, 2025 |
| Citizens Capital Markets | Market Outperform | Market Outperform | Maintain | Mar 4, 2025 |
| B of A Securities | Buy | Buy | Maintain | Sep 24, 2024 |
Named analyst price targets
Upside is calculated against the persisted current price $50.75. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Analyst unavailable | $65 | $54.22 | +28.1% | Sep 14, 2026 |
| Scotiabank | Nicholas Yulico | $62 | $55.83 | +22.2% | Sep 2, 2026 |
| Barclays | Richard Hightower | $66 | $55.53 | +30.0% | Aug 31, 2026 |
| KeyBanc | Analyst unavailable | $68 | $54.42 | +34.0% | Aug 19, 2026 |
| Truist Financial | Analyst unavailable | $61 | $54.14 | +20.2% | Aug 14, 2026 |
| RBC Capital | Analyst unavailable | $61 | $54.09 | +20.2% | Aug 14, 2026 |
| Compass Point | Rob Simone | $70 | $56.66 | +37.9% | Jul 21, 2026 |
| UBS | Analyst unavailable | $63 | $54.78 | +24.1% | Jul 8, 2026 |
| Barclays | Richard Hightower | $61 | $53.83 | +20.2% | Jul 7, 2026 |
| KeyBanc | Analyst unavailable | $58 | $50.46 | +14.3% | May 28, 2026 |
| RBC Capital | Michael Carroll | $56 | $50.66 | +10.3% | May 26, 2026 |
| Truist Financial | Michael Lewis | $57 | $52.13 | +12.3% | Mar 12, 2026 |
| Goldman Sachs | Analyst unavailable | $60 | $52.24 | +18.2% | Mar 2, 2026 |
| BMO Capital | Juan Sanabria | $55 | $46.33 | +8.4% | Jan 29, 2026 |
| Truist Financial | Michael Lewis | $52 | $48.01 | +2.5% | Jan 20, 2026 |
| Truist Financial | Analyst unavailable | $53 | $49.51 | +4.4% | Nov 26, 2025 |
| Morgan Stanley | Analyst unavailable | $55 | $49.56 | +8.4% | Nov 20, 2025 |
| Morgan Stanley | Ronald Kamdem | $52 | $47.87 | +2.5% | Nov 17, 2025 |
| JMP Securities | Analyst unavailable | $50 | $42.47 | -1.5% | Oct 17, 2025 |
| KeyBanc | Analyst unavailable | $43 | $41.29 | -15.3% | Oct 14, 2025 |
| UBS | Analyst unavailable | $51 | $42.49 | +0.5% | Sep 19, 2025 |
| Scotiabank | Analyst unavailable | $47 | $42.66 | -7.4% | Aug 28, 2025 |
| Truist Financial | Michael Lewis | $46 | $42.5 | -9.4% | Aug 26, 2025 |
| RBC Capital | Michael Carroll | $45 | $40.46 | -11.3% | Aug 13, 2025 |
| Jefferies | Joe Dickstein | $37 | $31.11 | -27.1% | Apr 28, 2025 |
| JMP Securities | Analyst unavailable | $35 | $30.54 | -31.0% | Mar 4, 2025 |
| Truist Financial | Michael Lewis | $29 | $26.51 | -42.9% | Nov 15, 2024 |
| Truist Financial | Michael Lewis | $27 | $25.85 | -46.8% | Sep 20, 2024 |
| KeyBanc | Austin Wurschmidt | $28 | $25.66 | -44.8% | Sep 20, 2024 |
| KeyBanc | Austin Wurschmidt | $27 | $24.58 | -46.8% | Sep 16, 2024 |
| Truist Financial | Michael Lewis | $22 | $20.93 | -56.7% | Sep 3, 2024 |
| Truist Financial | Michael Lewis | $17 | $14.61 | -66.5% | Jun 28, 2024 |
| Truist Financial | Michael Lewis | $16 | $14.1 | -68.5% | Apr 3, 2024 |
Track every rating change on AHR the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationAmerican Healthcare REIT (AHR) was forged through a significant strategic consolidation, combining Griffin-American Healthcare REIT III and Griffin-American Healthcare REIT IV, along with integrating the business and operations of American Healthcare Investors. This comprehensive merger has established AHR as a leading global real estate investment trust focused on healthcare properties, boasting an impressive portfolio with a gross investment value of approximately $4.2 billion. A core strength of the company lies in its fully integrated management platform, staffed by over one hundred highly experienced and proficient professionals. Many members of this team have a long history of collaboration, dating back to 2006, and have successfully invested in and overseen healthcare real estate assets across diverse market cycles.…
Historical context
All AHR earningsLatest beats and misses
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- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the AHR recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:36:15.940040+00:00
- Polygon adjusted daily market bars · 2026-10-02T23:56:08.362588+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-02T23:56:08.359772+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-02. For educational purposes only; not investment advice.