AHR vs. EXR: American Healthcare REIT vs. Extra Space Storage Stock Comparison

Company Profile

American Healthcare REIT (AHR) and Extra Space Storage (EXR) both fall under the Equity Real Estate Investment Trusts (REITs) industry group, but AHR is classified in Diversified REITs while EXR is classified in Specialized REITs.

Extra Space Storage (EXR) carries decades of public-market history since August 16, 2004, while American Healthcare REIT (AHR) listed on February 7, 2024 — long-window comparisons have far more historical data on the EXR side.

Both American Healthcare REIT (AHR) and Extra Space Storage (EXR) are REITs — read their payout ratios and P/E alongside FFO (funds from operations) rather than at face value.

Price Performance

Cumulative Growth

Trailing Returns

Calendar-Year Returns

Performance Metrics

Risk Profile

Drawdown History

Return Distribution

Risk Metrics

Risk-Adjusted Performance

Risk-Return Positioning

Risk-Adjusted Metrics

Profitability

Both American Healthcare REIT (AHR) at 2.33% and Extra Space Storage (EXR) at 7.71% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

Neither American Healthcare REIT (AHR) in Equity Real Estate Investment Trusts (REITs) nor Extra Space Storage (EXR) in Equity Real Estate Investment Trusts (REITs) is well served by net margin: heavy depreciation makes net income a poor profitability proxy in their businesses, where FFO-based measures are the standard read.

Neither side reports a meaningful operating margin: for American Healthcare REIT (AHR) in Equity Real Estate Investment Trusts (REITs) and Extra Space Storage (EXR) in Equity Real Estate Investment Trusts (REITs), funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.

Profitability Metrics

Growth

Both American Healthcare REIT (AHR) at 9.15% and Extra Space Storage (EXR) at 3.70% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

EPS growth isn't a meaningful figure for either American Healthcare REIT (AHR) in Equity Real Estate Investment Trusts (REITs) or Extra Space Storage (EXR) in Equity Real Estate Investment Trusts (REITs) under our convention.

Growth Metrics

Financial Strength

Both American Healthcare REIT (AHR) at 1.31 and Extra Space Storage (EXR) at 0.87 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

American Healthcare REIT (AHR) at 0.27 keeps leverage in the lower industry quartile, while Extra Space Storage (EXR) at 1.03 runs a more typical debt-to-equity mix.

Financial Strength Metrics

Dividends

Extra Space Storage (EXR) at 4.05% pays a yield in its industry’s typical range, while American Healthcare REIT (AHR) at 1.78% falls in the bottom quartile of its peers.

An earnings-based payout ratio fits neither American Healthcare REIT (AHR) in Equity Real Estate Investment Trusts (REITs) nor Extra Space Storage (EXR) in Equity Real Estate Investment Trusts (REITs): their distributions are mandated and conventionally measured against FFO, so the accounting-earnings ratio overstates both.

Dividend Metrics

Valuation

P/E ratio is not a meaningful valuation yardstick for either American Healthcare REIT (AHR) in Equity Real Estate Investment Trusts (REITs) or Extra Space Storage (EXR) in Equity Real Estate Investment Trusts (REITs): depreciation suppresses reported earnings in their businesses, and price-to-FFO is the conventional yardstick instead.

American Healthcare REIT (AHR) at 5.01 is priced about in line with its industry on P/S ratio, while Extra Space Storage (EXR) at 9.86 sits in the pricier quartile — EXR costs more per dollar of sales.

American Healthcare REIT (AHR) at 2.42 is valued about in line with its industry on P/B ratio, while Extra Space Storage (EXR) at 2.59 carries an above-peer premium to book — EXR is pricier on assets.

Valuation Metrics