American Healthcare REIT, Inc. (AHR) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of American Healthcare REIT, Inc. stock $12.01, price $57.91, that is 79.3% below the price, quality 33 out of 100. Rating: strongly overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
33‑month range $11.94 – $57.91 · fair‑value band $8.21 – $19.60 · the $57.91 price screens above the $12.01 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 9, 2026.
Follow American Healthcare REIT in your weekly email
Every Wednesday you see whether American Healthcare REIT is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
American Healthcare REIT, Inc., a Maryland-based self-managed REIT, owns and operates a diversified portfolio of clinical healthcare real estate across the U.S., U.K., and the Isle of Man. Its focus includes senior housing, skilled nursing facilities (SNFs), outpatient medical (OM) buildings, and other healthcare-related properties.
Show moreShow less
The company utilizes a fully integrated management platform and operates senior housing under the RIDEA structure. In addition to owning and operating properties, it has originated and acquired secured loans and may pursue other real estate-related investments opportunistically.
The REIT seeks income-generating assets and selectively develops healthcare properties. It has elected to be taxed as a REIT under the U.S. Internal Revenue Code and intends to maintain compliance with REIT requirements. American Healthcare REIT, Inc. is based in Irvine, United States.
Stock analysis
American Healthcare REIT, Inc. (AHR) currently trades at $57.91, while our model-based Fair Value estimate is $12.01, 79% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of $19.99 per share, and 0 of the 16 models we run sit above the $57.91 price.
Bear case: the Asset-Based group reads lowest at $8.20, and 16 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: $8.21 (bear) to $19.60 (bull), the price of $57.91 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 33/100 (below-average quality), in the Real Estate sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
American Healthcare REIT, Inc. reported revenue of $2.3B in FY2025 versus $1.3B in FY2021, a compound +15.6%/yr. Reported net income was $69.8M in FY2025.
Key figures
Market cap $13.4B Large · P/E ratio 118.2 · P/S ratio 5.01 · EPS (TTM) $0.4900 · Dividend yield 1.7% · Net margin 3.6% · Return on equity 2.3% · Return on assets (EBIT) 2.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 31 out of 100 (medium confidence).
What moves the price
The share trades at its 52-week high and 28% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −19% fair-value upside, at −79%, AHR screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely ($2.64 to $28.35). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear$8.21Fair Value $12.01Bull$19.60
Price $57.91 · Downside -79.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
FCF DCF$9.66$19.99$37.8276
Residual Income$9.96$9.97$10.2976
Growth DCF$9.66$19.46$36.1774
All 16 models by family
DCF Models
FCF DCF$9.66$19.99$37.8276
5Y Revenue Exit$4.89$10.09$16.8770
5Y EBITDA Exit$13.96$28.35$46.2073
10Y Revenue Exit$6.16$11.58$19.3664
10Y EBITDA Exit$12.41$24.94$43.6465
Dividend Discount
Gordon GGM$6.64$14.13$23.0666
DDM Multi-Stage$6.64$11.75$14.7866
Multiples
P/S Multiple$3.84$5.13$6.4158
P/B Multiple$18.35$24.47$30.5955
EV/EBIT$5.17$9.16$13.1564
EV/EBITDA$14.86$22.08$29.2966
EV/Revenuen/a$2.64$5.4650
Asset-Based
NCAV (Graham)$6.12$8.20$12.2454
Growth DCF
Growth DCF$9.66$19.46$36.1774
Rev-Margin DCF$4.89$10.09$16.6670
Economic Profit
Residual Income$9.96$9.97$10.2976
The fair value above starts from this blend and is adjusted for dilution from new shares.
In the last 6 months, 2 officers or directors sold shares worth $1.7M and none bought.
SaleMark E. FosterEVP, GC & Secretary6× since Nov 11, 2025: 11,500 shares, avg. $50.27$578,085Sep 25, 2026
SaleBrian PeayChief Financial Officer25,000 shares at $50.70$1.3MJun 26, 2026
SaleJeffrey T HansonDirector2× since Nov 10, 2025: 74,788 shares, avg. $48.73$3.6MDec 23, 2025
Plus 9 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+9.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.8%
Start year 2020 (pandemic)
Revenue growth 9 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.7%
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+30.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+28.3%
Dividend (yield on the price)1.7%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.11% → 7%
⚠ Revenue per share shrinking 4.1%/yr over ~7Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+31.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+16.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +28.8% a year for the price and +13.6% for the forecasts.
AI conclusion: Long-term partnerships with operators from recent acquisitions form the main strength, yet persistently low returns on equity and assets highlight the limited moat as the key weakness.
Main risk: New federal tax legislation with Medicaid spending cuts or state laws limiting REIT ownership of healthcare facilities could reduce operators' rent-paying capacity or constrain AHR's investment opportunities.
Bull case: Strong partnerships with operators and a focus on higher-acuity assets in supply-constrained markets could help AHR adapt to regulatory shifts and sustain cash flow growth.
Bear case: If reimbursement reductions or ownership restrictions take effect, operators might face financial strain leading to lease defaults or renegotiations that pressure AHR's revenues and platform expansion.
American Healthcare REIT has closed multiple large senior housing acquisitions this year that establish long-term partnerships with operators and expand its platform into new supply-constrained markets. These moves support its focus on higher-acuity assets while lifting total year-to-date investments above two billion dollars. Our models currently see the stock as overvalued. Will the new properties deliver stronger cash flow growth than they add in integration and leverage demands?
Compare American Healthcare REIT, Inc. with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.REIT - Healthcare Facilities · 25 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "American Healthcare REIT, Inc. Fair Value". https://www.fairvalue-calculator.com/stock/AHR
Frequently asked questions
Is American Healthcare REIT, Inc. (AHR) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of $12.01 versus a price of $57.91, about 79% lower (overvalued).
What is the fair value of AHR?
Our model-based fair value for American Healthcare REIT, Inc. is $12.01 (as of Nov 9, 2026), built from audited fundamentals. The current price: $57.91.
What is the quality score of AHR?
American Healthcare REIT, Inc. has a Quality Score of 33/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for American Healthcare REIT, Inc. (AHR)?
Our model-based price target is the fair value of $12.01 (as of Nov 9, 2026) from 16 valuation models. Cautious scenario $8.21, optimistic scenario $19.60. It is a calculation from audited fundamentals, not an analyst target.
What is the American Healthcare REIT, Inc. stock forecast for 2026?
Our models put fair value at $12.01, about 79% lower versus a price of $57.91 (overvalued). Cautious scenario $8.21, optimistic scenario $19.60. The calculation is refreshed regularly with new filings.
What is the revenue of American Healthcare REIT, Inc. (AHR)?
American Healthcare REIT, Inc. reported trailing-twelve-month revenue of about $2.7B (latest available figure, as of Nov 9, 2026).
Does American Healthcare REIT, Inc. pay a dividend?
American Healthcare REIT, Inc. currently shows a dividend yield of 1.73% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of American Healthcare REIT, Inc. (AHR) and when is the ex-dividend date?
American Healthcare REIT, Inc. pays a dividend of $1.00 per share a year, a dividend yield of 1.7%. The last ex-dividend date was Sep 30, 2026. Free cash flow covers the dividend 0.72 times. Our assessment: Pays more than it earns. The company pays out more in dividends than it earns, and free cash flow clearly does not cover the dividend either. It may need to be cut unless profits recover.
What growth is priced into American Healthcare REIT, Inc. (AHR)?
For today's price to be fair in a discounted-cash-flow model, American Healthcare REIT, Inc. would have to grow free cash flow by +31.9 % per year for five years (discount rate 8.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.8 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of AHR use?
Our models discount American Healthcare REIT, Inc. at 8.8 %: a base by market capitalisation (large), damped by beta 0.79, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For American Healthcare REIT, Inc. that is +31.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.8 %) and the same formula as our fair value.
How much growth has American Healthcare REIT, Inc. (AHR) delivered so far?
Over the past 5 years revenue at American Healthcare REIT, Inc. grew +13.8 % a year. The price currently implies free-cash-flow growth of +31.9 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of American Healthcare REIT, Inc. (AHR) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into American Healthcare REIT, Inc. (+31.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of American Healthcare REIT, Inc. (AHR)?
The free-cash-flow yield on the price is 1.50 %: that much free cash flow American Healthcare REIT, Inc. produces per unit of market value. When it exceeds the discount rate of our models (8.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of American Healthcare REIT, Inc. (AHR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For American Healthcare REIT, Inc. it is $12.01 per share (as of Nov 9, 2026), against a price of $57.91. It is the blended result of 16 valuation models in 6 families (DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is American Healthcare REIT, Inc. stock overvalued or undervalued in 2026?
As of Nov 9, 2026, AHR trades above its calculated fair value: price $57.91, fair value $12.01, a gap of about −79% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of AHR?
No. The price is what the market pays today ($57.91); the fair value is what the company's own numbers justify ($12.01). For American Healthcare REIT, Inc. the two are $45.90 per share apart. That gap is exactly why we show both numbers side by side.
How much is American Healthcare REIT, Inc. worth?
The market values American Healthcare REIT, Inc. at about $13.4B (market capitalisation, as of Nov 9, 2026). Per share that is $57.91; our models calculate a fair value of $12.01 per share.
What do the bullish and bearish scenarios say about AHR?
Our models span a range for American Healthcare REIT, Inc.: cautious scenario $8.21, base $12.01, optimistic $19.60 per share (as of Nov 9, 2026, price $57.91). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AHR?
American Healthcare REIT, Inc. trades at a price-to-earnings ratio of 118.2 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $12.01 is built from several models across several years. Other multiples: P/B 4.0, P/S 5.0, EV/EBITDA 29.6.
How solid is the balance sheet of American Healthcare REIT, Inc. (AHR)?
Balance-sheet figures for American Healthcare REIT, Inc. (as of Nov 9, 2026): return on equity 2.3%, debt of 0.30 per unit of equity. They feed the Quality Score of 33/100, which measures business quality independently of the share price.
How far is AHR from its 52-week high?
American Healthcare REIT, Inc. trades at $57.91, at its 52-week high of $57.91 and 28% above the low of $45.23 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $12.01 is for.
Which stocks are comparable to American Healthcare REIT, Inc.?
From the same area (Real Estate) we also value Welltower Inc, Ventas, Inc, Omega Healthcare Investors, Inc, Healthpeak Properties, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is American Healthcare REIT, Inc. stock attractive at the current price?
The data as of Nov 9, 2026: price $57.91, calculated fair value $12.01 (−79%), Quality Score 33/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of AHR calculated?
We run American Healthcare REIT, Inc. through 16 models from 6 families: DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of $12.01 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. American Healthcare REIT, Inc. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of American Healthcare REIT, Inc. (AHR)?
The closing price on Nov 6, 2026 was $57.91. Our model-based fair value is $12.01, about 79% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with American Healthcare REIT, Inc. right now?
The price sits above even our optimistic bull case ($19.60). The favourable scenario is already priced in. Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range ($8.21 to $19.60) leaves room in how you read the outcome. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of American Healthcare REIT, Inc.
How large is the market capitalisation of American Healthcare REIT, Inc. (AHR)?
The market capitalisation of American Healthcare REIT, Inc. is $13.4B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of American Healthcare REIT, Inc. (AHR)?
The price-to-sales ratio of American Healthcare REIT, Inc. is 5.01 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of American Healthcare REIT, Inc. (AHR)?
Earnings per share at American Healthcare REIT, Inc. are $0.4900 (price ÷ EPS = P/E 118.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of American Healthcare REIT, Inc. (AHR)?
The dividend yield of American Healthcare REIT, Inc. is 1.7%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of American Healthcare REIT, Inc. (AHR)?
The net margin of American Healthcare REIT, Inc. is 3.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of American Healthcare REIT, Inc. (AHR)?
The return on equity (ROE) of American Healthcare REIT, Inc. is 2.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of American Healthcare REIT, Inc. (AHR)?
On an EBIT basis the return on assets of American Healthcare REIT, Inc. is 2.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of American Healthcare REIT, Inc. (AHR)?
The operating margin of American Healthcare REIT, Inc. is 7.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at American Healthcare REIT, Inc. (AHR)?
Revenue at American Healthcare REIT, Inc. is growing +29.4% versus a year earlier (3y avg +11.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at American Healthcare REIT, Inc. (AHR)?
Earnings per share at American Healthcare REIT, Inc. are growing −57.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does American Healthcare REIT, Inc. (AHR) carry?
The net debt of American Healthcare REIT, Inc. is $1.6B (fiscal year 2025, ≈ 9.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch American Healthcare REIT, Inc. in the live analysis
One click puts American Healthcare REIT, Inc. on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Broad data
Nov 9, 2026