American Healthcare REIT, Inc. is a self-managed healthcare real estate investment trust (REIT) that specializes in the acquisition, ownership, and management of clinical healthcare properties. The company's portfolio spans the United States, the United Kingdom, and the Isle of Man, encompassing integrated senior health campuses (ISHCs), senior housing operating properties (SHOP), outpatient medical (OM) buildings, and triple-net leased properties. The company generates revenue primarily through resident fees and services from its operating properties, as well as rental income from its leased assets. According to 2026 data, the Integrated Senior Health Campuses segment is the largest contributor to Net Operating Income (NOI), accounting for approximately 60%, followed by the Senior Housing Operating Properties segment at roughly 20%, Outpatient Medical at 14%, and Triple-Net leased properties at 6%.
A key differentiator for American Healthcare REIT is its utilization of the RIDEA (REIT Investment Diversification and Empowerment Act) structure, which allows the company to participate directly in the operational performance of its senior housing and healthcare campuses rather than relying solely on fixed rental income. The company partners with established regional operators, such as Trilogy Management Services, to manage these facilities and provide high-quality care. Formed through the 2021 merger of Griffin-American Healthcare REIT III and IV and the internalization of their sponsor, American Healthcare Investors, the company went public on the NYSE in 2024 and is positioned to capitalize on demographic tailwinds such as an aging population and increasing demand for senior care and outpatient services.
