IRVINE, Calif. - American Healthcare REIT, Inc. (NYSE: AHR) reported a wider loss in the fourth quarter of 2023, with a net loss per share of -$0.42. Revenue for the quarter was $226 million, showcasing the company's financial status as it navigates the healthcare real estate landscape.
In comparison to the previous year, the company experienced a significant increase in revenue, marking a positive trend despite the reported net loss. This growth can be attributed to various factors, including occupancy gains in the company's RIDEA-operated assets, which have been a major driver of Same-Store revenue growth.
The company has also provided its guidance for the full year ending December 31, 2024, projecting a NAREIT FFO per share range of $1.13 to $1.19 and a Normalized FFO per share range of $1.18 to $1.24. This guidance reflects management's confidence in the company's continued recovery and operational performance, particularly within its Integrated Senior Health Campuses and SHOP segment.
American Healthcare REIT's stock responded positively to the news, with a modest increase of +0.57%, indicating investor optimism about the company's future prospects and strategic initiatives.
"We are proud of our 2023 operating results and have begun 2024 with a successful common stock offering and the listing of our common stock on the NYSE," said Danny Prosky, President and CEO of American Healthcare REIT. "As we move forward, we are focused on driving occupancy gains and maintaining a strong performance across our diversified healthcare portfolio."
The company's proactive capital management, including the repayment of approximately $721 million of debt, has positioned it for a stronger financial footing. This strategic move is expected to result in significant interest expense savings and improve the company's leverage metrics.
Investors and stakeholders will be watching closely as American Healthcare REIT continues to execute its growth strategy and navigate the complexities of the healthcare real estate market in the coming year.
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