American Healthcare REIT, Inc. (AHR) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of American Healthcare REIT, Inc. $12.27, price $51.70, upside -76.3%, quality 34 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
32‑month range $11.94 – $57.72 · fair‑value band $8.48 – $18.98 · the $51.70 price screens above the $12.27 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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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.
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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. 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 $51.70, while our model-based Fair Value estimate is $12.27, implying the stock looks roughly 321.4% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $19.48 per share, and 0 of the 16 models we run sit above the $51.70 price.
Bear case: the Multiples group reads lowest at $6.27, and 16 of the 16 models stay below the price. Evidence for this calculation is high.
Scenario range: $8.48 (bear) to $18.98 (bull), the price of $51.70 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 34/100 (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 $9.6B · P/E ratio 87.6 · P/S ratio 2.71 · EPS (TTM) $0.5900 · Dividend yield 1.9% · Net margin 3.1% · Return on equity 3.5% · Return on assets (EBIT) 2.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (medium confidence).
What moves the price
The share trades about 10% below its 52-week high and 31% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 8% fair-value upside, at −76%, AHR screens richer than that median.
Fair Value models
Bear $8.48Fair Value $12.27Bull $18.98
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.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.Evidence ⓘEvidence = 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.
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%
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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.
+68.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+66.4%
Dividend (yield on the price)1.9%
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).
+29.3%
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.
+11.5%
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 +26.3% a year for the price and +8.9% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (93 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
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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
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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 Sep 24, 2026, our model estimates a fair value of $12.27 versus a price of $51.70, about −76% upside (overvalued).
What is the fair value of AHR?
Our model-based fair value for American Healthcare REIT, Inc. is $12.27 (as of Sep 24, 2026), built from audited fundamentals. The current price: $51.70.
What is the quality score of AHR?
American Healthcare REIT, Inc. has a Quality Score of 34/100. 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 $12.27 (as of Sep 24, 2026) from 16 valuation models. Cautious scenario $8.48, optimistic scenario $18.98. 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 $12.27, about −76% upside versus a price of $51.70 (overvalued). Cautious scenario $8.48, optimistic scenario $18.98. 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 $2.4B (latest available figure, as of Sep 24, 2026).
Does American Healthcare REIT, Inc. pay a dividend?
American Healthcare REIT, Inc. currently shows a dividend yield of about 1.93% relative to its recent price (as of Sep 24, 2026).
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 +29.3 % per year for five years (discount rate 9.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of AHR use?
Our models discount American Healthcare REIT, Inc. at 9.3 %: a base by market capitalisation (mid), damped by beta 0.81, 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 +29.3 % per year a year over ten years, using the same discount rate (9.3 %) 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 +29.3 % per year free-cash-flow growth a 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 +1.8 % a year. That is the yardstick for the growth priced into American Healthcare REIT, Inc. (+29.3 % per year a 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 1.92 %: that much free cash flow American Healthcare REIT, Inc. produces per unit of market value. When it exceeds the discount rate of our models (9.3 %), 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 $12.27 per share (as of Sep 24, 2026), against a price of $51.70. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is American Healthcare REIT, Inc. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, AHR trades above its calculated fair value: price $51.70, fair value $12.27, a gap of about −76% (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 ($51.70); the fair value is what the company's own numbers justify ($12.27). For American Healthcare REIT, Inc. the two are $39.43 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 $9.6B (market capitalisation, as of Sep 24, 2026). Per share that is $51.70; our models calculate a fair value of $12.27 per share.
What do the bullish and bearish scenarios say about AHR?
Our models span a range for American Healthcare REIT, Inc.: cautious scenario $8.48, base $12.27, optimistic $18.98 per share (as of Sep 24, 2026, price $51.70). 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 87.6 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $12.27 is built from several models across several years. Other multiples: P/B 2.9, P/S 4.1, EV/EBITDA 25.3.
How solid is the balance sheet of American Healthcare REIT, Inc. (AHR)?
Balance-sheet figures for American Healthcare REIT, Inc. (as of Sep 24, 2026): return on equity 3.5%, debt of 0.30 per unit of equity. They feed the Quality Score of 34/100, which measures business quality independently of the share price.
How far is AHR from its 52-week high?
American Healthcare REIT, Inc. trades at $51.70, about 10% below its 52-week high of $57.72 and 31% above the low of $39.57 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $12.27 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 Sep 24, 2026: price $51.70, calculated fair value $12.27 (−76%), Quality Score 34/100, 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 four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $12.27, 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 14.1 % 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 Sep 23, 2026 was $51.70. Our model-based fair value is $12.27, about −76% upside (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 ($18.98). The favourable scenario is already priced in. Weak quality (34/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range ($8.48 to $18.98) 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 $9.6B. 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 2.71 (P/E × margin). 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 $0.5900 (price ÷ EPS = P/E 87.6). 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 1.9% (payout 169%). 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 3.1% (fiscal year 2025). 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 3.5% (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 6.4% (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 +20.9% 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 +306% 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.
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Broad data
Sep 24, 2026