American Healthcare REIT, Inc. Reports Strong Q2 2025 Results and Increases Full-Year Guidance

Strategic Insights -

American Healthcare REIT, Inc. announced its second quarter 2025 results, showcasing significant growth in key areas such as net income, normalized funds from operations (NFFO), and same-store net operating income (NOI). The company reported a notable 13.9% increase in total portfolio same-store NOI growth, driven by strong performance in its senior housing operating properties and integrated senior health campuses. Additionally, American Healthcare REIT, Inc. increased its full-year 2025 guidance, citing improved expectations for NOI growth and accretive capital allocation activity.

Key Takeaways:

  • The company reported GAAP net income attributable to controlling interest of $9.9 million and $0.06 per diluted share for the three months ended June 30, 2025.
  • Normalized Funds from Operations (NFFO) attributable to common stockholders was $0.42 per diluted share for the three months ended June 30, 2025.
  • The company achieved total portfolio Same-Store Net Operating Income (NOI) growth of 13.9% for the three months ended June 30, 2025, compared to the same period in 2024.
  • Senior housing operating properties (SHOP) and integrated senior health campuses (ISHC) reported same-store NOI growth of 23.0% and 18.3%, respectively, for the three months ended June 30, 2025, compared to the same period in 2024.
  • The company acquired a new senior housing operating property (SHOP) asset for approximately $65.0 million during the three months ended June 30, 2025.
  • Year-to-date 2025, the company has closed on approximately $255 million of new investments.
  • The company issued 5,451,577 shares of common stock through its at-the-market equity offering program (ATM program) for gross proceeds of approximately $188.6 million during the three months ended June 30, 2025.
  • The company entered into a forward sales agreement to sell 3,554,525 shares of common stock through its ATM program, which were settled subsequent to quarter end for net proceeds of approximately $126.0 million.
  • Full-year 2025 guidance for total portfolio Same-Store NOI growth was increased by 150 basis points to 11.0% to 14.0%, primarily due to strong operating results in its ISHC and SHOP segments.
  • Full-year 2025 guidance for NFFO was increased by $0.05 at the midpoint to $1.64 to $1.68, due to increased expectations for full-year 2025 NOI growth for its Same-Store portfolio and recent accretive capital allocation activity.
  • The company reported a 0.8x improvement to Net Debt-to-Annualized Adjusted EBITDA from 4.5x as of March 31, 2025 to 3.7x as of June 30, 2025.
  • The company was awarded the Great Place To Work(r) Certificationtm for 2025, based on direct feedback from employees and an independent analysis conducted by Great Place To Work(r), the global authority on workplace culture.

Statistics:

  • GAAP net income attributable to controlling interest: $9.9 million
  • GAAP net income attributable to common stockholders: $0.06 per diluted share
  • Normalized Funds from Operations (NFFO) attributable to common stockholders: $0.42 per diluted share
  • Total portfolio same-store NOI growth: 13.9%
  • Senior housing operating properties (SHOP) same-store NOI growth: 23.0%
  • Integrated senior health campuses (ISHC) same-store NOI growth: 18.3%
  • Net debt-to-annualized adjusted EBITDA: 3.7x
  • Shares issued through ATM program: 5,451,577
  • Gross proceeds from ATM program: $188.6 million
  • Net proceeds from forward sales agreement: $126.0 million
  • New investments closed year-to-date 2025: $255 million

Sources:

  • American Healthcare REIT, Inc. News Release, August 2025 (exact source not provided in the original text, but listed as August 2025)
  • American Healthcare REIT, Inc. SEC Filings (further investigation recommended for specific dates and details)