Tue, May 14, 7:27 PM (245 days ago)
American Healthcare REIT, Inc. reported its financial results for the quarter ended March 31, 2024. The company saw an increase in total revenues to $499.5 million, up from $452.2 million in the same period last year, driven by higher resident fees and services revenue and real estate revenue. Property operating expenses rose to $403.6 million from $370.1 million, reflecting increased occupancy and higher labor costs. The net loss for the quarter narrowed to $3.0 million from $27.6 million in the prior year, aided by gains on real estate dispositions and lower interest expenses. The company completed a public offering in February 2024, raising $772.8 million, which was used to repay debt. As of March 31, 2024, the company had $1.26 billion in mortgage loans payable and $760 million outstanding under its lines of credit. The company expects its liquidity sources to be sufficient for the next 12 months.