AHR vs. WELL: American Healthcare REIT vs. Welltower Stock Comparison

Company Profile

American Healthcare REIT (AHR) and Welltower (WELL) both fall under the Equity Real Estate Investment Trusts (REITs) industry group, but AHR is classified in Diversified REITs while WELL is classified in Health Care REITs.

Welltower (WELL) carries decades of public-market history since March 19, 1980, while American Healthcare REIT (AHR) listed on February 7, 2024 — long-window comparisons have far more historical data on the WELL side.

Both American Healthcare REIT (AHR) and Welltower (WELL) 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 Welltower (WELL) at 3.92% 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 Welltower (WELL) 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 Welltower (WELL) 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

Welltower (WELL) at 35.82% clears its industry range for revenue growth, far stronger top-line momentum than American Healthcare REIT (AHR) at 9.15%, which is closer to a typical peer reading.

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

Growth Metrics

Financial Strength

Both American Healthcare REIT (AHR) at 1.31 and Welltower (WELL) at 1.66 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

Both American Healthcare REIT (AHR) at 0.27 and Welltower (WELL) at 0.42 keep leverage in the lower quartile of their industries, with less balance-sheet debt relative to equity than most peers.

Financial Strength Metrics

Dividends

Both American Healthcare REIT (AHR) at 1.78% and Welltower (WELL) at 1.30% 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 Welltower (WELL) 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 Welltower (WELL) 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 Welltower (WELL) at 13.03 sits in the pricier quartile — WELL 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 Welltower (WELL) at 3.69 carries an above-peer premium to book — WELL is pricier on assets.

Valuation Metrics