American Healthcare REIT, Inc. reported significant financial developments in its 10-Q filing for the quarter ending September 30, 2024. The company achieved total revenues and grant income of $523.8 million for the three months ended September 30, 2024, marking an increase from $464.2 million in the same period of 2023. For the nine months, revenues rose to $1.53 billion from $1.38 billion year-over-year. This growth was primarily driven by increased resident fees and services revenue, which reached $476.8 million for the quarter and $1.39 billion for the nine months, up from $416.2 million and $1.24 billion, respectively, in 2023.

Despite the revenue growth, total expenses also increased, with quarterly expenses rising to $490.0 million from $450.8 million in 2023, and nine-month expenses increasing to $1.44 billion from $1.34 billion. The company reported a net loss of $3.1 million for the third quarter, an improvement from a loss of $6.4 million in the prior year. For the nine months, the net loss was $3.2 million, significantly better than the $45.9 million loss reported in 2023.

Strategically, American Healthcare REIT has been active in acquisitions, having acquired several properties, including 14 senior housing properties in Oregon and five in Washington, totaling $127.3 million in assumed mortgage loans. The company also raised substantial capital through public offerings, generating $772.8 million in February 2024 and $471.2 million in September 2024, which were used to repay debt and fund acquisitions.

As of September 30, 2024, total assets increased to $4.68 billion from $4.58 billion at the end of 2023, with real estate investments netting $3.54 billion, up from $3.43 billion. The company’s total stockholders’ equity rose to $2.21 billion, compared to $1.27 billion at the end of the previous fiscal year.

The company’s financial position improved, with cash and cash equivalents increasing to $67.9 million from $43.4 million. Additionally, borrowings under the new 2024 Credit Facility totaled $596.5 million, down from $1.22 billion under the previous facility, reflecting a strategic shift in debt management.

Overall, American Healthcare REIT's performance in the third quarter of 2024 reflects a positive trajectory in revenue growth and strategic acquisitions, despite ongoing challenges related to rising expenses and net losses.