American Healthcare REIT reported third‑quarter 2025 earnings on November 6 2025, delivering net income per diluted share of $0.49, NAREIT FFO of $1.73, and NFFO of $1.71. Same‑store net operating income (NOI) grew 16.4 % for the quarter and 15.1 % for the nine‑month period, underscoring robust performance across the portfolio.
Segment‑level results highlighted the Integrated Senior Health Campus (ISHC) and Senior Housing Operating Properties (SHOP) as the strongest contributors, with same‑store NOI increases of 21.7 % and 25.3 % respectively. Outpatient Medical properties added 2.9 % growth, while triple‑net leased properties remained flat, reflecting stable lease terms and a mature segment.
The company’s balance sheet strengthened markedly, with net debt to EBITDA falling to 3.5× at September 30, 2025 from 8.5× at the end of 2023. This deleveraging reduces financial risk and provides flexibility for future acquisitions or capital expenditures.
AHR raised its full‑year 2025 guidance, projecting NFFO per share of $1.71–$1.72 and total portfolio same‑store NOI growth of 14 %. The upward revision signals management confidence in continued occupancy gains and revenue acceleration, building on the strong Q3 performance.
The article omitted several key pieces of context that would aid a full assessment: prior‑period comparisons for EPS, FFO, and revenue; the company’s revenue figure for the quarter; the previous guidance levels; direct management commentary; and any market reaction. Including these details would provide a clearer picture of the magnitude of the results and the strategic implications.
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