American Healthcare REIT, Inc. reported significant financial performance for the fiscal year ending December 31, 2024, with total revenues reaching $2.07 billion, a 10.9% increase from $1.87 billion in 2023. The company experienced a net loss of $35.6 million, an improvement from a loss of $76.9 million in the previous year. This positive shift in profitability was attributed to increased resident occupancy and higher billing rates across its integrated senior health campuses and senior housing operating properties (SHOP), alongside strategic acquisitions and operational transitions.
In 2024, American Healthcare REIT made notable strategic moves, including the completion of two public offerings that raised a total of $1.24 billion. The February 2024 Offering generated $772.8 million, while the September 2024 Offering brought in $471.2 million. Additionally, the company established an at-the-market equity offering program with a potential gross sales price of up to $500 million. These funds were utilized to pay down variable-rate debt, enhancing the company's financial flexibility and reducing interest expenses.
Operationally, the company expanded its portfolio to 314 buildings and integrated senior health campuses, representing approximately 19.2 million square feet of gross leasable area, with a total contract purchase price of $4.53 billion. The integrated senior health campuses segment accounted for 126 properties, with an occupancy rate of 88%, while the SHOP segment included 84 properties with an occupancy rate of 85.4%. The company also transitioned several skilled nursing facilities from triple-net leased properties to a managed portfolio under a RIDEA structure, which is expected to enhance operational performance.
American Healthcare REIT's employee count stood at approximately 114 as of December 31, 2024, with a diverse workforce comprising 72.8% minorities and 57.0% females. The company aims to continue its growth trajectory by focusing on disciplined acquisitions, selective development of healthcare real estate, and maintaining financial flexibility. Looking ahead, the company anticipates ongoing demand for its services driven by an aging population and low levels of new supply in the healthcare real estate market, positioning it for potential growth in revenues and profitability.
About American Healthcare REIT, Inc.
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