AHR vs. VICI: American Healthcare REIT vs. VICI Properties Stock Comparison

Company Profile

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

VICI Properties (VICI) has been public since January 2, 2018, giving it a longer listed trading history, while American Healthcare REIT (AHR) listed on February 7, 2024 and still has a shorter public-market record.

Both American Healthcare REIT (AHR) and VICI Properties (VICI) 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 VICI Properties (VICI) at 8.28% 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 VICI Properties (VICI) 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 VICI Properties (VICI) 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 VICI Properties (VICI) at 4.08% 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 VICI Properties (VICI) 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 VICI Properties (VICI) at 20.26 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.

Both American Healthcare REIT (AHR) at 0.27 and VICI Properties (VICI) at 0.61 keep leverage in the lower quartile of their industries, with less balance-sheet debt relative to equity than most peers.

Financial Strength Metrics

Dividends

VICI Properties (VICI) at 7.18% offers top-quartile income, while American Healthcare REIT (AHR) at 1.78% sits in the bottom quartile — a wide gap in cash returned to shareholders.

An earnings-based payout ratio fits neither American Healthcare REIT (AHR) in Equity Real Estate Investment Trusts (REITs) nor VICI Properties (VICI) 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 VICI Properties (VICI) 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 VICI Properties (VICI) at 6.57 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

VICI Properties (VICI) at 0.94 sits in the lower P/B ratio quartile against book while American Healthcare REIT (AHR) at 2.42 is valued near its industry’s middle — VICI is cheaper on assets, though weigh it against ROE and asset quality.

Valuation Metrics