AHR vs. IRM: American Healthcare REIT vs. Iron Mountain Stock Comparison

Company Profile

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

Iron Mountain (IRM) carries decades of public-market history since February 1, 1996, while American Healthcare REIT (AHR) listed on February 7, 2024 — long-window comparisons have far more historical data on the IRM side.

Both American Healthcare REIT (AHR) and Iron Mountain (IRM) 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

Capital efficiency shows on one side only: American Healthcare REIT (AHR) earns 2.33% on shareholders’ equity, ranked against its industry; Iron Mountain (IRM) has no ROE this period.

Neither American Healthcare REIT (AHR) in Equity Real Estate Investment Trusts (REITs) nor Iron Mountain (IRM) 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 Iron Mountain (IRM) 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

Iron Mountain (IRM) at 12.23% sits in the top revenue growth quartile, while American Healthcare REIT (AHR) at 9.15% is closer to the peer norm — faster top-line expansion for IRM.

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

Growth Metrics

Financial Strength

American Healthcare REIT (AHR) at 1.31 keeps current ratio within its industry’s typical mid-range, while Iron Mountain (IRM) at 0.56 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for IRM.

Only one side’s leverage can be read here: American Healthcare REIT (AHR) carries debt-to-equity ratio of 0.27 against its industry range, while Iron Mountain (IRM) reports no figure this period.

Financial Strength Metrics

Dividends

Iron Mountain (IRM) at 3.28% 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 Iron Mountain (IRM) 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 Iron Mountain (IRM) in Equity Real Estate Investment Trusts (REITs): depreciation suppresses reported earnings in their businesses, and price-to-FFO is the conventional yardstick instead.

On P/S ratio, both American Healthcare REIT (AHR) at 5.01 and Iron Mountain (IRM) at 4.07 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

Iron Mountain (IRM) reports a negative P/B ratio of -22.85, meaning negative book equity — the multiple itself is not meaningful for valuation. Meanwhile American Healthcare REIT (AHR) reports 2.42, ranking against industry peers normally.

Valuation Metrics