American Healthcare REIT, Inc. logo AHR - American Healthcare REIT, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 12
HOLD 0
SELL 0
STRONG
SELL
0
| PRICE TARGET: $58.57 DETAILS
HIGH: $63.00
LOW: $55.00
MEDIAN: $58.00
CONSENSUS: $58.57
UPSIDE: 2.47%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Real Estate Investment Trust 85% confidence

Primary model: P/FFO × Healthcare REIT Multiple

Valuation Signal Overvalued Strong
Trading 75.9% above fair value
Current Price $57.16
Bear Case $25.78 54.9% downside ($25.78 - $57.16) / $57.16 = -54.9% $1.24 FFO × 18x
Fair Value $32.50 43.1% downside ($32.50 - $57.16) / $57.16 = -43.1% $1.24 FFO × 23x
Bull Case $39.22 31.4% downside ($39.22 - $57.16) / $57.16 = -31.4% $1.24 FFO × 29x

Adjust Assumptions

23.4x
1.24$

Key Value Driver

FFO/share ($1.24) × healthcare P/FFO multiple

Implied Market Multiple 45.9x

Plain-Language Summary

Our base-case estimate uses P/FFO × Healthcare REIT Multiple. We then blend that result with the average analyst price target of $58.57 from 12 analysts, using a 20% weight on analyst consensus. That produces an estimated intrinsic value of $32.50 per share.

Warnings

Standard profit figures are misleading for real estate companies — large non-cash accounting charges make profits look artificially low. Dividend yield and funds from operations are better measures.
The 1.7% yield is low for a real estate company — investors are paying up because they expect above-average growth.
Dividend-based valuation: $18.64 (28% below our primary estimate). Large gaps suggest the dividend may not fully reflect the company's value.
Wall Street's average price target is $58.57 (from 12 analysts). Our estimate is 56% below the consensus -- consider that gap carefully.

Key Risks

  • P/E and EV/EBITDA are structurally wrong for REITs — use P/FFO and NAV
  • Interest rate sensitivity: REIT multiples compress when rates rise
  • FFO approximation (NI + D&A) may include gains on property sales — verify