American Healthcare REIT Inc (AHR) Q4 2024 Earnings Call Highlights: Robust Growth and Strategic Moves

American Healthcare REIT Inc (AHR) recently reported its Q4 2024 earnings, showcasing robust growth and strategic moves that position the company for continued success. The company's focus on senior housing investments has driven exceptional Same-Store Net Operating Income (NOI) growth, with its Senior Housing Operating Properties (SHOP) and Integrated Senior Health Campuses (ISHC) segments delivering impressive results.

Key Highlights:

* Reported GAAP net loss attributable to controlling interest of $(31.8) million and $(0.21) per diluted share for the three months ended December 31, 2024.
* Reported GAAP net loss attributable to controlling interest of $(37.8) million and $(0.29) per diluted share for the year ended December 31, 2024.
* Achieved total portfolio Same-Store NOI growth of 21.6% and 17.7% for the three months and year ended December 31, 2024, respectively, compared to the same periods in 2023.
* Achieved 66.6% and 28.0% Same-Store NOI growth during the three months ended December 31, 2024, from its SHOP and ISHC segments, respectively, compared to the same period in 2023.
* Purchased over $650 million of new investments during 2024, including a SHOP asset in the Atlanta MSA for approximately $7.5 million.
* Issued 4,285,531 shares of common stock from its ATM program, raising gross proceeds of approximately $120.2 million during the three months ended December 31, 2024.
* Reported a 4.2x improvement in the Company's Net Debt-to-Annualized Adjusted EBITDA from 8.5x as of December 31, 2023, to 4.3x as of December 31, 2024.
* Issued total portfolio Same-Store NOI growth guidance of 7.0% to 10.0% and NFFO per diluted share guidance of $1.56 to $1.60 for the year ending December 31, 2025.

Strategic Moves and Future Outlook:

AHR's strategic operator partnerships and asset management support have been key differentiators driving its performance. The company's ability to partner with a highly-curated list of operating partners and provide more focused asset management support has enabled it to deliver attractive NOI growth across its diversified healthcare portfolio. As the company looks ahead to 2025, it remains steadfast in its commitment to delivering high-quality care and performance across its facilities, building on the successful year it had in 2024.

AHR's balance sheet transformation, including the reduction of Net Debt-to-Annualized Adjusted EBITDA, positions the company for future growth and resilience in the face of market uncertainties. The company's improved financial flexibility, enhanced creditworthiness, stronger capital structure, and ability to invest in growth opportunities make it well-equipped to navigate market uncertainties and continue its strategic growth.



In conclusion, American Healthcare REIT Inc (AHR) has demonstrated robust growth and strategic moves in its Q4 2024 earnings, driven by its focus on senior housing investments and strategic operator partnerships. The company's strong performance, combined with its balance sheet transformation, positions it for continued success in the face of market uncertainties. As AHR looks ahead to 2025, it remains committed to delivering high-quality care and performance across its facilities, building on the successful year it had in 2024.