AHR vs. SPG: American Healthcare REIT vs. Simon Property Stock Comparison

Company Profile

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

Simon Property (SPG) carries decades of public-market history since December 14, 1993, while American Healthcare REIT (AHR) listed on February 7, 2024 — long-window comparisons have far more historical data on the SPG side.

Both American Healthcare REIT (AHR) and Simon Property (SPG) 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

Simon Property (SPG) at 129.35% clears its industry range for ROE, a sharper capital-efficiency signal than American Healthcare REIT (AHR) at 2.33%, which is closer to a typical peer reading.

Neither American Healthcare REIT (AHR) in Equity Real Estate Investment Trusts (REITs) nor Simon Property (SPG) 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 Simon Property (SPG) 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 Simon Property (SPG) at 6.72% 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 Simon Property (SPG) 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 Simon Property (SPG) at 0.39 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for SPG.

American Healthcare REIT (AHR) at 0.27 keeps leverage in the lower quartile, while Simon Property (SPG) at 5.67 is above its industry debt-to-equity ratio range.

Financial Strength Metrics

Dividends

Both American Healthcare REIT (AHR) at 1.78% and Simon Property (SPG) at 0.97% offer bottom-quartile dividend income relative to share price versus industry peers.

An earnings-based payout ratio fits neither American Healthcare REIT (AHR) in Equity Real Estate Investment Trusts (REITs) nor Simon Property (SPG) 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 Simon Property (SPG) 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 Simon Property (SPG) at 12.09 sits in the pricier quartile — SPG costs more per dollar of sales.

American Healthcare REIT (AHR) at 2.42 sits near its industry’s typical P/B ratio, while Simon Property (SPG) at 19.38 prices above its benchmark range — SPG looks rich relative to book.

Valuation Metrics