American Healthcare REIT, Inc.
For the period ended Mar 31, 2026. Filed May 8, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 8, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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PART I — FINANCIAL INFORMATION Item 1. Financial Statements (Unaudited)
| March 31, 2026 | December 31,2025 | |
|---|---|---|
| ASSETS | ||
| Real estate investments, net | $4,319,911 | $4,183,419 |
| Debt security investment, net | 92,304 | 92,136 |
| Cash and cash equivalents | 119,380 | 114,836 |
| Restricted cash | 37,504 | 36,917 |
| Accounts and other receivables, net | 241,594 | 204,313 |
| Identified intangible assets, net | 250,424 | 253,236 |
| Goodwill | 234,942 | 234,942 |
| Operating lease right-of-use assets, net | 130,405 | 135,399 |
| Other assets, net | 172,194 | 171,028 |
| Total assets | $5,598,658 | $5,426,226 |
| LIABILITIES AND EQUITY | ||
| Liabilities: | ||
| Mortgage loans payable, net(1) | $962,375 | $966,925 |
| Lines of credit and term loan, net(1) | 549,818 | 549,761 |
| Accounts payable and accrued liabilities(1) | 340,265 | 317,742 |
| Identified intangible liabilities, net | 1,978 | 2,110 |
| Financing obligations(1) | 33,675 | 33,902 |
| Operating lease liabilities(1) | 130,806 | 135,603 |
| Security deposits, prepaid rent and other liabilities(1) | 58,386 | 59,568 |
| Total liabilities | 2,077,303 | 2,065,611 |
| Commitments and contingencies (Note 10) | ||
| Equity: | ||
| Stockholders’ equity: | ||
| Preferred stock, $0.01 par value per share; 200,000,000 shares authorized; none issued and outstanding | — | — |
| Common stock, $0.01 par value per share; 700,000,000 shares authorized; 189,942,357 and 185,911,442 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively | 1,894 | 1,852 |
| Additional paid-in capital | 5,065,446 | 4,880,169 |
| Accumulated deficit | (1,583,441) | (1,559,279) |
| Accumulated other comprehensive loss | (2,224) | (2,104) |
| Total stockholders’ equity | 3,481,675 | 3,320,638 |
| Noncontrolling interests | 39,680 | 39,977 |
| Total equity | 3,521,355 | 3,360,615 |
| Total liabilities and equity | $5,598,658 | $5,426,226 |
(1)
Such liabilities of American Healthcare REIT, Inc. represented liabilities of American Healthcare REIT Holdings, LP or its consolidated subsidiaries as of March 31, 2026 and December 31, 2025. American Healthcare REIT Holdings, LP is a variable interest entity, or VIE, and a consolidated subsidiary of American Healthcare REIT, Inc. The creditors of American Healthcare REIT Holdings, LP or its consolidated subsidiaries do not have recourse against American Healthcare REIT, Inc., except for the 2024 Credit Facility, as defined in Note 8, Lines of Credit and Term Loan, held by American Healthcare REIT Holdings, LP in the amount of$550,000 as of both March 31, 2026 and December 31, 2025, which was guaranteed by American Healthcare REIT, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Revenues: | ||
| Resident fees and services | $609,767 | $497,176 |
| Real estate revenue | 41,007 | 43,427 |
| Total revenues | 650,774 | 540,603 |
| Expenses: | ||
| Property operating expenses | 512,171 | 432,423 |
| Rental expenses | 13,100 | 13,643 |
| General and administrative | 17,605 | 13,155 |
| Transaction, transition and restructuring costs | 1,971 | 1,837 |
| Depreciation and amortization | 67,062 | 41,114 |
| Total expenses | 611,909 | 502,172 |
| Other income (expense): | ||
| Interest expense: | ||
| Interest expense, net | (18,796) | (22,945) |
| Gain (loss) in fair value of derivative financial instruments | 1,527 | (750) |
| Loss on dispositions of real estate investments, net | — | (359) |
| Impairment of real estate investments | (418) | (21,706) |
| Income (loss) from unconsolidated entities | 792 | (1,848) |
| Foreign currency (loss) gain | (819) | 1,416 |
| Other income, net | 2,335 | 1,525 |
| Total net other expense | (15,379) | (44,667) |
| Income (loss) before income taxes | 23,486 | (6,236) |
| Income tax benefit (expense) | 525 | (604) |
| Net income (loss) | 24,011 | (6,840) |
| Net (income) loss attributable to noncontrolling interests | (298) | 36 |
| Net income (loss) attributable to controlling interest | $23,713 | $(6,804) |
| Net income (loss) per common share attributable to controlling interest: | ||
| Basic | $0.13 | $(0.04) |
| Diluted | $0.13 | $(0.04) |
| Weighted average number of common shares outstanding: | ||
| Basic | 187,319,513 | 156,922,819 |
| Diluted | 187,970,438 | 156,922,819 |
| Net income (loss) | $24,011 | $(6,840) |
| Other comprehensive (loss) income: | ||
| Foreign currency translation adjustments | (120) | 176 |
| Total other comprehensive (loss) income | (120) | 176 |
| Comprehensive income (loss) | 23,891 | (6,664) |
| Comprehensive (income) loss attributable to noncontrolling interests | (298) | 36 |
| Comprehensive income (loss) attributable to controlling interest | $23,593 | $(6,628) |
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY
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