Every material Form 8-K American Healthcare REIT has filed with the SEC since November 18, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
American Healthcare REIT entered into a new at-the-market equity sales agreement allowing it to sell up to $1.75 billion of common stock through a group of sales agents and forward purchasers. The company terminated its prior program, which had about $170 million left unsold, and says it will use any net proceeds for general corporate purposes, which may include future investments.
Agreement allows sales of common stock with an aggregate gross sales price of up to $1,750,000,000, replacing the prior program dated February 27, 2026.
About $170,134,000 remained unsold under the prior sales agreement when it was terminated.
Agents may receive a commission of up to 2.0% of gross sales price; shares are sold under a shelf registration statement on Form S-3 dated August 12, 2024.
Proceeds would go to the Operating Partnership for general corporate purposes, which may include potential future investments.
American Healthcare REIT, Inc. reported third quarter 2026 GAAP net income of $31.2 million, or $0.14 per diluted share, alongside normalized funds from operations of $0.58 per diluted share. Driven by strong portfolio growth and $1.69 billion in senior housing acquisitions during the quarter, the company raised its full-year 2026 guidance for Same-Store NOI growth and normalized FFO.
GAAP net income attributable to controlling interest was $31.2 million, or $0.14 per diluted share, for the quarter ended September 30, 2026.
Normalized Funds From Operations reached $0.58 per diluted share, and total portfolio Same-Store NOI grew 13.8%.
Full-year 2026 NFFO per diluted share guidance was raised to a range of $2.23 to $2.26.
Acquired approximately $1.69 billion of new investments in the SHOP segment during the third quarter.
American Healthcare REIT (AHR) said Aric Chang, Chief Financial Officer, Real Estate at Public Storage, will become its CFO effective October 1, 2026, succeeding Brian Peay, who is retiring. Peay will remain CFO through September 30, 2026, and will then serve as a non-employee consultant through April 15, 2027. The filing describes a finance leadership change at the company, with no financial results or guidance included.
Aric Chang, age 47, joins as CFO effective October 1, 2026, after serving as CFO, Real Estate at Public Storage since May 2023
Chang's offer includes a $500,000 base salary, a target bonus of 100% of base salary, and a 2027 long-term incentive with a target grant date fair value of $1,000,000
Brian Peay, CFO since 2016 per the press release, retires effective September 30, 2026, and receives a $45,000 COBRA reimbursement and accelerated vesting of 18,159 restricted shares
American Healthcare REIT, through its operating partnership, signed three purchase agreements on August 10, 2026 to acquire eight senior housing communities, called the Kensington Portfolio, for an aggregate price of $873 million. The company expects the first closing, covering the portfolio, in the third quarter of 2026, with the remaining two closings expected by the end of 2026, but it gives no assurance that any closing will occur on that timeline or at all.
Eight senior housing communities with 745 units in California, Maryland, New York and Virginia, for an aggregate price of $873,000,000
Total deposits of $8,730,000 go into escrow within three business days of August 10, 2026 and become non-refundable under specified conditions
Initial closing of the Portfolio Agreement is set for September 1, 2026, with a one-time option to extend to October 15, 2026
Kensington Park and Bethesda closings depend on lender consent on a $56,460,000 existing loan and a stabilization condition, respectively
American Healthcare REIT reported second quarter 2026 results that rose from a year earlier, with revenue of $674.3 million and GAAP net income attributable to controlling interest of $30.6 million, or $0.16 per diluted share. The company raised its full-year 2026 NFFO per diluted share guidance to $2.15 to $2.19 and its same-store NOI growth guidance to 11.0% to 13.0%, which raises the expected per-share earnings for shareholders.
Q2 2026 GAAP net income attributable to controlling interest was $30.6 million, or $0.16 per diluted share, versus $9.9 million, or $0.06, in Q2 2025.
Q2 2026 total revenues were $674.3 million, versus $542.5 million a year earlier; Normalized FFO was $0.54 per diluted share, versus $0.42.
2026 NFFO per diluted share guidance was raised to $2.15 to $2.19 from $2.03 to $2.09; total portfolio same-store NOI growth guidance was raised to 11.0% to 13.0% from 9.0% to 12.0%.
Net debt-to-annualized adjusted EBITDA fell to 2.5x as of June 30, 2026, from 3.0x as of March 31, 2026.
American Healthcare REIT said Danny Prosky retired as CEO and President effective July 21, 2026, and the board named Jeff Hanson CEO that day; Hanson, who had been interim CEO since February 2026, also remains Chairman. Prosky stays on the board, and Gabe Willhite was elevated to President while remaining Chief Operating Officer, which changes who runs day-to-day operations and sets new pay terms for the top executives.
Jeff Hanson named CEO effective July 21, 2026; he continues as Chairman. His base salary is $965,000 and his target annual bonus is 160% of base salary.
Hanson received two equity grants, each with a grant date fair value of $2,072,534: time-based RSUs vesting over three years and performance-based RSUs cliff-vesting December 31, 2028.
Danny Prosky's release of claims agreement provides a $35,000 lump sum for continuation medical coverage and accelerated vesting of an unvested restricted stock award scheduled to vest February 9, 2028.
Gabe Willhite was named President and Chief Operating Officer, with a $100,000 cash pay increase and target bonus raised to 125% of base pay; Scott Estes was named Lead Independent Director with a $40,000 added annual retainer.
American Healthcare REIT (NYSE: AHR) reported first quarter 2026 GAAP net income attributable to controlling interest of $23.7 million, or $0.13 per diluted share, compared with a loss of $6.8 million a year earlier. It raised its full-year 2026 NFFO per diluted share guidance to $2.03 to $2.09, but lowered its full-year net income per diluted share guidance to $0.51 to $0.57 from $0.75 to $0.81.
Q1 2026 total revenues were $650.8 million, up from $540.6 million in Q1 2025; NFFO was $0.50 per diluted share, up from $0.38.
FY2026 NFFO per diluted share guidance rose to $2.03 to $2.09 from $1.99 to $2.05, and total portfolio Same-Store NOI growth guidance rose to 9.0% to 12.0% from 7.0% to 11.0%.
FY2026 net income per diluted share guidance fell to $0.51 to $0.57 from $0.75 to $0.81.
Net Debt-to-Annualized Adjusted EBITDA improved to 3.0x at March 31, 2026, from 3.4x at December 31, 2025.
American Healthcare REIT entered a Second Amendment on April 1, 2026 to its 2024 credit agreement with Bank of America and a group of lenders. The amended facility includes an $800 million revolver with maturity extended to April 1, 2030, and a $550 million term loan maturing January 19, 2027, with total borrowing capacity of up to $1.85 billion including an incremental feature. The filing does not report earnings or a change in financial results, so the effect on shareholders is limited to the amended terms of the company's credit lines.
Second Amendment dated April 1, 2026 amends the 2024 Credit Agreement, first amended December 9, 2024.
Revolving loans mature April 1, 2030, with extension options to October 1, 2030 and April 1, 2031, subject to conditions including an extension fee.
Term loans of $550 million mature January 19, 2027 and cannot be extended.
Aggregate borrowing capacity under the 2026 Credit Facility was $1.35 billion as of April 1, 2026.
On February 27, 2026, American Healthcare REIT entered into a sales agreement with 11 agents for the offer and sale of up to $1.75 billion of its common stock, replacing a prior at-the-market program dated August 8, 2025, under which $230,139,575 remained unsold. The filing says shares will be sold at times and amounts the company determines, and net proceeds are expected to go to general corporate purposes, which may include repaying debt. The filing does not report any shares sold under the new program, so the effect on shareholders depends on future sales.
Agreement covers up to $1.75 billion aggregate gross sales price of common stock, $0.01 par value, dated February 27, 2026.
Prior at-the-market program dated August 8, 2025 was terminated with $230,139,575 unsold at that time.
Agents may receive a commission of up to 2.0% of the gross sales price of shares sold through them.
Net proceeds are intended for the Operating Partnership and may be used to repay or repurchase indebtedness, working capital and capital expenditures.
American Healthcare REIT reported fourth quarter and full year 2025 results on February 26, 2026, showing a swing to net income from prior-year losses and higher Normalized FFO per diluted share. The company also issued 2026 guidance for Normalized FFO of $1.99 to $2.05 per diluted share, with a $2.02 midpoint, compared with $1.72 in 2025. The guidance does not assume any transactions or capital markets activity beyond those already completed.
Q4 2025 GAAP net income attributable to controlling interest was $10.8 million, or $0.06 per diluted share, versus a loss of $31.8 million, or $0.21 per share, in Q4 2024.
Full-year 2025 GAAP net income attributable to controlling interest was $69.8 million, or $0.42 per diluted share, versus a loss of $37.8 million, or $0.29 per share, in 2024.
Normalized FFO was $0.46 per diluted share in Q4 2025 versus $0.40 a year earlier, and $1.72 for 2025 versus $1.41 in 2024; total portfolio same-store NOI grew 11.8% in Q4 and 14.2% for the year.
2026 guidance calls for net income of $0.75 to $0.81 per diluted share and total portfolio same-store NOI growth of 7.0% to 11.0%.
American Healthcare REIT (NYSE: AHR) said its CEO and President, Danny Prosky, is on medical leave effective February 3, 2026, following a recent medical event. The board appointed Chairman Jeffrey T. Hanson, who was CEO from 2015 to 2021, as interim CEO and President effective the same date. The filing does not address financial results or guidance, but the leadership change is significant for shareholders during the interim period.
Danny Prosky, CEO, President and director, began a medical leave of absence effective February 3, 2026
Jeffrey T. Hanson, Chairman of the Board and CEO from 2015 to 2021, is Interim CEO and President effective February 3, 2026
The company said its senior leadership team is long-tenured and will work with Hanson to ensure continuity of operations
The press release was issued February 4, 2026 (Exhibit 99.1)
American Healthcare REIT reported third quarter 2025 net income attributable to its controlling interest of $55.9 million, or $0.33 per diluted share, compared with a loss of $4.1 million a year earlier, and raised its full-year 2025 guidance. The company's full-year NFFO guidance now runs from $1.69 to $1.72 per share, up from $1.64 to $1.68, which gives shareholders a higher expected earnings base for 2025.
Q3 2025 revenue was $572.9 million, up from $523.8 million in Q3 2024; net income attributable to controlling interest was $55.9 million, or $0.33 per diluted share, versus a loss of $4.1 million, or $0.03 per share.
Q3 2025 NFFO was $0.44 per diluted share, compared with $0.36 in Q3 2024.
2025 NFFO guidance was raised to $1.69 to $1.72 per share from $1.64 to $1.68; total portfolio same-store NOI growth guidance was raised to 13.0% to 15.0% from 11.0% to 14.0%.
Net debt to annualized adjusted EBITDA improved to 3.5x as of September 30, 2025, from 3.7x as of June 30, 2025.
American Healthcare REIT, Inc. entered an ATM Equity Offering Sales Agreement on August 8, 2025, allowing it to sell up to $1 billion of common stock through a group of sales agents, replacing its prior at-the-market program. Shares may be sold at times the company chooses, and the company says net proceeds will go to its Operating Partnership for general corporate purposes, which may include repaying debt. Sales could dilute existing shareholders, but the filing does not say whether or when any shares will be sold.
Program covers up to $1 billion aggregate gross sales price of common stock, $0.01 par value
Agents may earn commissions up to 2.0% of gross sales price of shares sold
Prior at-the-market program, dated November 18, 2024, was terminated with no shares left unsold
Shares offered under a prospectus supplement dated August 8, 2025 and a shelf registration on Form S-3
American Healthcare REIT (NYSE: AHR) reported second quarter 2025 results on August 7, 2025, with total revenues of $542.5 million, up from $504.6 million a year earlier, and net income attributable to controlling interest of $9.9 million, or $0.06 per diluted share. The company raised its full year 2025 guidance for NFFO per diluted share and total portfolio Same-Store NOI growth, citing strong operating results in its ISHC and SHOP segments.
Q2 NFFO was $0.42 per diluted share, compared with $0.33 in the second quarter of 2024; GAAP net income was $0.06 per diluted share, compared with $0.01.
2025 NFFO per diluted share guidance rose to $1.64 to $1.68 from $1.58 to $1.64; total portfolio Same-Store NOI growth guidance rose to 11.0% to 14.0% from 9.0% to 13.0%.
Net Debt-to-Annualized Adjusted EBITDA improved to 3.7x as of June 30, 2025, from 4.5x as of March 31, 2025; total liquidity was about $733.5 million.
The Board declared a $0.25 per share distribution for the quarter ended June 30, 2025, paid on or about July 18, 2025.
American Healthcare REIT reported first quarter 2025 total revenues of $540.6 million, up from $499.5 million a year earlier, and raised its full-year 2025 guidance. GAAP net loss attributable to controlling interest widened to $6.8 million, or $(0.04) per diluted share, from $3.9 million a year earlier, mainly due to a $21.7 million impairment of a real estate investment. Shareholders get higher expected 2025 normalized FFO, but a larger GAAP loss in the quarter.
Total revenues were $540.6 million for the quarter ended March 31, 2025, compared with $499.5 million for the same period in 2024.
Normalized FFO attributable to common stockholders was $0.38 per diluted share, up from $0.30 a year earlier.
Full-year 2025 normalized FFO guidance was raised to $1.58 to $1.64 per diluted share from $1.56 to $1.60; total portfolio same-store NOI growth guidance rose to 9.0% to 13.0% from 7.0% to 10.0%.
Net loss attributable to controlling interest was $(6.8) million, compared with $(3.9) million a year earlier, after a $21.7 million impairment of a real estate investment.
American Healthcare REIT reported fourth-quarter and full-year 2024 results on February 27, 2025, and issued full-year 2025 guidance. The fourth-quarter GAAP net loss per diluted share narrowed to $(0.21) from $(0.42) a year earlier, and normalized FFO per diluted share rose to $0.40 from $0.38, while full-year normalized FFO was $1.41 versus $1.40 in 2023. For 2025, the company expects normalized FFO of $1.56 to $1.60 per diluted share and total portfolio same-store NOI growth of 7.0% to 10.0%.
Q4 2024 GAAP net loss attributable to controlling interest was $(31.8) million, or $(0.21) per diluted share, versus $(27.4) million, or $(0.42), in Q4 2023.
Full-year 2024 normalized FFO was $1.41 per diluted share; total portfolio same-store NOI grew 17.7%.
2025 guidance: normalized FFO of $1.56 to $1.60 per diluted share and net income of $0.26 to $0.30 per diluted share, versus a 2024 net loss of $(0.29).
Company raised about $1.36 billion of gross equity in 2024, including $120.2 million through its at-the-market program in Q4.
American Healthcare REIT entered an at-the-market equity sales agreement allowing it to sell up to $500 million of common stock through a group of banks acting as agents or forward sellers. The filing does not say that any shares have been sold, and the company will not receive proceeds from shares borrowed by forward purchasers and sold through forward sellers.
Agreement dated November 18, 2024 covers up to $500 million aggregate gross sales price of common stock.
Agents may receive commissions of up to 2.0% of gross sales price of shares sold through them as agent.
Company intends to contribute net proceeds to its Operating Partnership for general corporate purposes, which may include repaying indebtedness.
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