NYSE : AHRT
AH REALTY TRUST INC — Financial statements
Real Estate · REIT - Healthcare Facilities · United States
Last price 6.11 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 607.53M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 273.59M | 269.62M | 256.70M | 238.92M | 219.29M | 192.14M |
| Other Revenue | -327.00K | -2.14M | 245.00K | 234.86M | 91.94M | |
| Total Revenue | 288.84M | 283.06M | 274.31M | 253.91M | 471.13M | 302.53M |
| Property Expenses | 94.60M | 92.11M | 91.25M | 78.94M | 299.99M | 156.56M |
| Selling, General & Administrative | 18.68M | 20.34M | 19.29M | 17.19M | 15.69M | 14.61M |
| Depreciation & Amortization | 91.97M | 91.52M | 90.83M | 97.34M | 74.08M | 69.88M |
| Total Operating Expenses | 205.25M | 203.97M | 201.36M | 193.47M | 389.77M | 241.04M |
| Operating Income | 83.58M | 79.09M | 72.95M | 60.44M | 81.36M | 61.49M |
| Interest Expense | -85.49M | -85.31M | -78.97M | -57.81M | -39.68M | -33.91M |
| Interest & Investment Income | -196.00K | |||||
| Other Non-Operating Income | 753.00K | -870.00K | 14.74M | -6.79M | 8.45M | 3.28M |
| EBT Excluding Unusual Items | -1.35M | -7.09M | 8.73M | -4.16M | 50.13M | 30.86M |
| Gain (Loss) on Sale of Assets | -854.00K | 21.30M | 738.00K | 53.47M | 18.94M | |
| Asset Writedown | -2.27M | -373.00K | -1.49M | -102.00K | -416.00K | -21.28M |
| Other Unusual Items | 2.03M | 6.30M | -687.00K | -3.37M | -3.81M | |
| Pretax Income | -2.45M | -1.15M | 27.85M | -3.52M | 99.81M | 24.71M |
| Income Tax Expense | -145.00K | -742.00K | ||||
| Earnings From Continuing Operations | -2.45M | -1.15M | 27.85M | -3.52M | 99.95M | 25.45M |
| Earnings From Discontinued Operations | -47.43M | 5.06M | 14.64M | 11.19M | ||
| Net Income to Company | -49.88M | 3.91M | 42.49M | 7.66M | 99.95M | 25.45M |
| Minority Interest in Earnings | 13.50M | 1.70M | -6.85M | 624.00K | -25.21M | -3.56M |
| Net Income | -36.38M | 5.60M | 35.65M | 8.29M | 74.75M | 21.89M |
| Preferred Dividends & Other Adjustments | 11.55M | 11.55M | 11.55M | 11.55M | 11.55M | 11.55M |
| Net Income to Common | -47.93M | -5.94M | 24.10M | -3.26M | 63.20M | 10.34M |
| Basic Shares Outstanding | 78.86M | 80.12M | 70.66M | 67.69M | 67.58M | 60.65M |
| Diluted Shares Outstanding | 78.86M | 80.12M | 70.66M | 67.69M | 67.58M | 60.65M |
| EPS (Basic) | -0.61 | -0.07 | 0.34 | -0.05 | 0.94 | 0.17 |
| EPS (Diluted) | -0.61 | -0.07 | 0.34 | -0.05 | 0.94 | 0.17 |
| Dividend Per Share | 0.56 | 0.56 | 0.82 | 0.78 | 0.72 | 0.64 |
| Operating Margin | 28.94% | 27.94% | 26.59% | 23.80% | 17.27% | 20.32% |
| Profit Margin | -16.59% | -2.10% | 8.78% | -1.28% | 13.41% | 3.42% |
| EBITDA | 160.60M | 164.36M | 157.88M | 152.20M | 150.90M | 125.40M |
| EBITDA Margin | 55.60% | 58.07% | 57.55% | 59.94% | 32.03% | 41.45% |
| D&A For Ebitda | 77.02M | 85.27M | 84.93M | 91.77M | 69.53M | 63.91M |
| EBIT | 83.58M | 79.09M | 72.95M | 60.44M | 81.36M | 61.49M |
| EBIT Margin | 28.94% | 27.94% | 26.59% | 23.80% | 17.27% | 20.32% |
| Funds From Operations (FFO) | 79.59M | 79.73M | 99.85M | 90.72M | 106.64M | 85.35M |
| FFO Per Share | 0.79 | 0.78 | 1.08 | 1.02 | 1.21 | 1.05 |
| Adjusted Funds From Operations (AFFO) | 70.77M | 75.59M | 86.27M | 90.72M | 106.64M | 85.35M |
| AFFO Per Share | 0.79 | 0.74 | 0.93 | 1.02 | 1.21 | 1.05 |
| Revenue as Reported | 289.16M | 285.20M | 274.07M | 253.91M | 471.13M | 302.53M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 1.48B | 2.13B | 1.85B | 1.92B | 1.68B | 1.52B |
| Total Real Estate Assets | 1.48B | 2.14B | 1.86B | 1.93B | 1.68B | 1.52B |
| Cash & Equivalents | 20.66M | 49.15M | 31.94M | 27.92M | 48.14M | 35.25M |
| Accounts Receivable | 62.48M | 66.18M | 52.84M | 172.08M | 110.35M | 47.68M |
| Other Intangible Assets | 69.95M | 77.61M | 89.74M | 109.14M | 103.87M | 62.04M |
| Loans Receivable Current | 9.23M | 128.67M | 132.56M | 94.17M | 136.04M | 126.43M |
| Restricted Cash | 1.55M | 3.23M | 1.58M | 2.25M | 3.73M | 5.20M |
| Other Current Assets | 189.91M | 45.27M | 143.94M | 33.01M | 30.52M | 99.10M |
| Trading Asset Securities | 3.99M | 8.66M | 15.86M | 28.86M | 29.11M | 2.93M |
| Deferred Long-Term Charges | 33.67M | 29.67M | 25.68M | 25.73M | 24.66M | |
| Other Long-Term Assets | 94.67M | 47.93M | 158.15M | 142.03M | 71.98M | 12.69M |
| Total Assets | 1.93B | 2.60B | 2.51B | 2.56B | 2.24B | 1.94B |
| Current Portion of Long-Term Debt | 124.00M | 415.87M | 4.50M | |||
| Current Portion of Leases | 5.46M | |||||
| Long-Term Debt | 831.96M | 1.10B | 1.28B | 1.39B | 1.06B | 921.02M |
| Long-Term Leases | 116.35M | 125.32M | 130.13M | 129.52M | 84.28M | 77.81M |
| Accounts Payable | 30.34M | 40.18M | 35.08M | 31.04M | 26.84M | 29.59M |
| Other Current Liabilities | 81.01M | 47.78M | 137.79M | 19.93M | 19.78M | 58.61M |
| Long-Term Unearned Revenue | 9.36M | 10.53M | 34.18M | 28.45M | 16.18M | |
| Other Long-Term Liabilities | 29.31M | 18.44M | 20.22M | 152.21M | 116.81M | 55.04M |
| Total Liabilities | 1.21B | 1.77B | 1.62B | 1.76B | 1.34B | 1.16B |
| Preferred Stock, Convertible | 171.09M | 171.09M | 171.09M | 171.09M | 171.09M | 171.09M |
| Common Stock | 749.00K | 805.00K | 797.00K | 668.00K | 677.00K | 630.00K |
| Additional Paid-In Capital | 691.75M | 724.67M | 714.64M | 580.69M | 587.88M | 525.03M |
| Distributions in Excess of Earnings | -335.10M | -269.48M | -218.62M | -184.72M | -126.88M | -141.36M |
| Comprehensive Income & Other | 848.00K | 703.00K | 2.74M | 4.91M | 14.68M | -33.00K |
| Total Common Equity | 358.24M | 456.69M | 499.55M | 401.54M | 476.37M | 384.27M |
| Minority Interest | 185.68M | 201.42M | 219.03M | 232.56M | 256.56M | 224.47M |
| Shareholders' Equity | 715.00M | 829.19M | 889.67M | 805.18M | 904.01M | 779.82M |
| Total Liabilities & Equity | 1.93B | 2.60B | 2.51B | 2.56B | 2.24B | 1.94B |
| Total Debt | 1.07B | 1.65B | 1.42B | 1.52B | 1.15B | 998.83M |
| Net Cash (Debt) | -1.05B | -1.59B | -1.37B | -1.46B | -1.07B | -960.66M |
| Net Cash Per Share | -13.29 | -19.89 | -19.41 | -21.62 | -15.82 | -15.84 |
| Filing Date Shares Outstanding | 74.59M | 80.18M | 79.92M | 66.79M | 67.71M | 67.32M |
| Total Common Shares Outstanding | 74.59M | 80.17M | 79.70M | 66.79M | 67.73M | 63.01M |
| Book Value Per Share | 4.80 | 5.70 | 6.27 | 6.01 | 7.03 | 6.10 |
| Tangible Book Value | 288.29M | 379.08M | 409.81M | 292.40M | 372.50M | 322.23M |
| Tangible Book Value Per Share | 3.86 | 4.73 | 5.14 | 4.38 | 5.50 | 5.11 |
| Land | 297.86M | 273.02M | 279.13M | 285.03M | 256.73M | |
| Buildings | 2.15B | 1.83B | 1.74B | 1.53B | 1.34B | |
| Construction In Progress | 14.24M | 17.05M | 17.52M | 102.28M | 53.07M | 72.53M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -36.38M | 5.60M | 35.65M | 8.29M | 74.75M | 21.89M |
| Depreciation & Amortization | 77.02M | 85.27M | 84.93M | 91.77M | 69.53M | 63.91M |
| Other Amortization | 4.46M | 4.45M | 4.25M | 3.38M | 3.48M | 4.90M |
| Gain (Loss) on Sale of Assets | 854.00K | -21.30M | -738.00K | -53.47M | -19.04M | |
| Gain (Loss) on Sale of Investments | -2.18M | |||||
| Asset Writedown | 2.27M | 373.00K | 1.49M | 102.00K | 416.00K | 21.38M |
| Stock-Based Compensation | 4.76M | 6.84M | 5.10M | 3.68M | 3.27M | 2.23M |
| Income (Loss) on Equity Investments | 327.00K | 2.14M | -245.00K | |||
| Change in Accounts Receivable | -15.18M | -15.18M | -11.65M | -13.91M | -65.49M | 16.84M |
| Change in Other Net Operating Assets | 21.84M | -8.02M | 1.32M | 9.38M | 62.57M | -24.45M |
| Other Operating Activities | 22.47M | -19.55M | -19.73M | -4.67M | 20.65M | 5.55M |
| Net Cash from Discontinued Operations | 1.32M | -13.81M | 30.03M | -8.55M | ||
| Operating Cash Flow | 84.46M | 50.44M | 112.02M | 93.31M | 116.86M | 91.18M |
| Acquisition of Real Estate Assets | -93.41M | -90.55M | -60.01M | -91.56M | -213.01M | -137.72M |
| Sale of Real Estate Assets | 15.42M | 58.59M | 246.00K | 252.27M | 85.32M | |
| Net Sale / Acq. of Real Estate Assets | -78.00M | -90.55M | -1.42M | -91.31M | 39.26M | -52.39M |
| Investment in Marketable & Equity Securities | -10.27M | -6.60M | -15.88M | -70.05M | -62.87M | -11.61M |
| Other Investing Activities | 354.54M | -15.65M | -4.47M | -71.85M | -1.99M | 10.96M |
| Investing Cash Flow | 256.31M | -121.03M | -26.70M | -237.27M | -33.24M | -57.63M |
| Long-Term Debt Issued | 371.04M | 269.47M | 402.57M | 678.57M | 161.81M | |
| Long-Term Debt Repaid | -164.56M | -257.57M | -180.87M | -723.74M | -187.76M | |
| Net Debt Issued (Repaid) | -132.23M | 206.48M | 11.89M | 221.70M | -45.16M | -25.95M |
| Issuance of Common Stock | 129.42M | 65.16M | 51.68M | |||
| Repurchase of Common Stock | -33.72M | -1.38M | -1.57M | -13.74M | -774.00K | -553.00K |
| Common & Preferred Dividends Paid | -78.63M | -75.22M | -83.89M | -80.40M | -72.58M | -58.71M |
| Total Dividends Paid | -78.63M | -75.22M | -83.89M | -80.40M | -72.58M | -58.71M |
| Other Financing Activities | -115.24M | -77.34M | -99.12M | -5.31M | -18.84M | -10.00M |
| Net Cash Flow | -19.06M | -18.04M | 42.06M | -21.70M | 11.42M | -9.99M |
| Levered Free Cash Flow | 153.47M | 98.65M | 182.99M | 83.95M | 58.53M | 87.14M |
| Unlevered Free Cash Flow | 207.03M | 151.97M | 232.34M | 120.09M | 83.33M | 108.33M |
| Cash Interest Paid | 72.98M | 72.98M | 71.63M | 44.92M | 29.88M | 29.24M |
| Cash Income Tax Paid | 1.40M | 1.40M | 1.15M | -33.00K | 1.00K | -4.00K |
| Change in Working Capital | 6.66M | -23.20M | -10.32M | -4.53M | -2.92M | -7.61M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 604.55M | 530.62M | 815.27M | 833.75M | 778.89M | 936.11M |
| Enterprise Value | 1.65B | 2.46B | 2.60B | 2.62B | 2.24B | 2.36B |
| Last Close Price | 6.08 | 6.17 | 8.81 | 9.88 | 8.59 | 10.72 |
| Price/FFO Ratio | 8.77 | 7.91 | 8.16 | 9.69 | 7.10 | 10.21 |
| Price/AFFO Ratio | 8.75 | 8.34 | 9.47 | 9.68 | 7.10 | 10.23 |
| PE Ratio | 33.83 | 12.32 | 90.50 | |||
| PS Ratio | 2.09 | 1.88 | 2.97 | 3.28 | 1.65 | 3.09 |
| PB Ratio | 1.27 | 0.64 | 0.92 | 1.03 | 0.86 | 1.20 |
| P/OCF Ratio | 7.16 | 10.52 | 7.28 | 8.94 | 6.67 | 10.27 |
| EV/Sales Ratio | 5.72 | 8.68 | 9.48 | 10.34 | 4.76 | 7.81 |
| EV/EBITDA Ratio | 10.29 | 14.95 | 16.47 | 17.25 | 14.86 | 18.84 |
| EV/EBIT Ratio | 19.77 | 31.06 | 35.65 | 43.43 | 27.56 | 38.43 |
| Debt / Equity Ratio | 1.50 | 1.99 | 1.60 | 1.89 | 1.27 | 1.28 |
| Debt / EBITDA Ratio | 6.59 | 9.93 | 8.88 | 9.86 | 7.50 | 7.81 |
| Net Debt / Equity Ratio | 1.47 | 1.92 | 1.54 | 1.82 | 1.18 | 1.23 |
| Net Debt / EBITDA Ratio | 6.52 | 9.70 | 8.69 | 9.62 | 7.08 | 7.66 |
| Asset Turnover | 0.13 | 0.11 | 0.11 | 0.11 | 0.23 | 0.16 |
| Quick Ratio | 0.37 | 0.24 | 0.57 | 4.49 | 4.02 | 0.97 |
| Current Ratio | 1.22 | 0.59 | 2.13 | 7.03 | 7.68 | 3.59 |
| Return on Equity (ROE) | -0.31% | -0.13% | 3.29% | -0.41% | 11.87% | 3.31% |
| Return on Assets (ROA) | 2.32% | 1.93% | 1.80% | 1.57% | 2.43% | 1.99% |
| Return on Invested Capital (ROIC) | 4.28% | 3.30% | 3.15% | 2.76% | 4.25% | 3.44% |
| Earnings Yield | -10.00% | 1.06% | 4.37% | 0.99% | 9.60% | 2.34% |
| Dividend Yield | 9.21% | 8.46% | 8.02% | 6.21% | 6.26% | 4.31% |
| Payout Ratio | 1,342.33% | 235.36% | 970.17% | 97.09% | 268.19% | |
| Buyback Yield / Dilution | -2.13% | -13.38% | -4.39% | -0.17% | -11.43% | -5.79% |
| Total Shareholder Return | 7.08% | -4.92% | 3.63% | 6.04% | -5.16% | -1.48% |