AHR vs. O: American Healthcare REIT vs. Realty Income Stock Comparison

Company Profile

American Healthcare REIT (AHR) and Realty Income (O) both fall under the Equity Real Estate Investment Trusts (REITs) industry group, but AHR is classified in Diversified REITs while O is classified in Retail REITs.

Realty Income (O) carries decades of public-market history since October 18, 1994, while American Healthcare REIT (AHR) listed on February 7, 2024 — long-window comparisons have far more historical data on the O side.

Both American Healthcare REIT (AHR) and Realty Income (O) 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 Realty Income (O) at 3.48% 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 Realty Income (O) 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 Realty Income (O) 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 Realty Income (O) at 9.07% 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 Realty Income (O) 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 Realty Income (O) at 2.17 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.

American Healthcare REIT (AHR) at 0.27 keeps leverage in the lower industry quartile, while Realty Income (O) at 0.75 runs a more typical debt-to-equity mix.

Financial Strength Metrics

Dividends

Realty Income (O) at 5.45% 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 Realty Income (O) 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 Realty Income (O) 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 Realty Income (O) at 9.06 sits in the pricier quartile — O costs more per dollar of sales.

On P/B ratio, both American Healthcare REIT (AHR) at 2.42 and Realty Income (O) at 1.42 are valued close to their industries’ norm against book — neither stands out from peers.

Valuation Metrics