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AH Realty Trust Inc

AHRT Real Estate Reit Diversified

AH Realty Trust Inc’s revenue for fiscal 2025 (year ended December 2025) was $285.2 million, up 4.06% from fiscal 2024.

Revenue
−45.5%
EPS
−725.0%
Free cash flow
+105.0%
Total debt
−34.2%

Quarter to September 2026, against a year earlier

6.46 0.07 −1.07%
Market cap
$621.2M
P/E
0.0×
Fwd P/E
−9.1×
Dividend yield
8.52%
F-score
3/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.11
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — 1 — 1 1 — — 1 — 1 2 —
Sell — — — — — — — — — — — —
Insider Ownership 2.22%

Capital & Financial Ratios $m

Size
Market Cap 621.18
Revenue ttm 245.41
Net income ttm (49.88)
Free cash flow ttm 66.82
Net debt Q 1,010.08
Valuation
P/E 0.00
Forward P/E (9.14) (negative: loss-making)
Price / sales 2.02
Forward P/S Powerpack
Price / FCF 7.40
Price / book 0.91
Financial health
Current ratio Q 3.25
Debt / equity Q 1.50
Interest coverage Q 0.89
Growth
Revenue growth Q −45.54% (below 0%: shrinking)
Operating income growth Q −49.60% (below 0%: shrinking)
EPS, this year −737.50% (below 0%: weak)
EPS, next year A +85.07% (at or above 15%: strong)
Revenue, next year A −26.40% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A 0.00%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 6.1×, against a ten-year median of 4.8×; over the ten years it ranged from 2.5× in 2016 to 9.3× in 2019.
P/S against its own 10 years 56.77%
10-year low 10-year high
P/B against its own 10 years 15.51%
10-year low 10-year high
EV/Sales against its own 10 years 69.60%
10-year low 10-year high
EV/FCF against its own 10 years 2.84%
10-year low 10-year high

Dividends

Yield
8.52%
Annual rate
0.56
Payout ratio
—
Growth, 2017–25
−3.75%/yr
  1. 0.76 ’17
  2. 0.80 ’18 +5
  3. 0.84 ’19 +5
  4. 0.44 ’20 −48
  5. 0.64 ’21 +45
  6. 0.72 ’22 +13
  7. 0.78 ’23 +8
  8. 0.82 ’24 +6
  9. 0.56 ’25 −32
  10. 0.56 ’26e +0
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 30 34 52 29
Receivables 172 53 66 63
Inventory — — — —
Other — — — —
296 219 247 100
2023 2024 2025 Q'26
Payables 31 35 40 31
ST’ Debt — — — —
Other — — — —
31 35 40 31

Compound Annual Growth %

10y 5y 3y
Sales 1.23% (5.76%) (15.41%)
Cash Flow 6.80% (6.76%) (18.08%)
Earnings 0.00% 0.00% 0.00%
Book Value 13.90% 1.84% (2.84%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.14 Actual 0.16

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q1 FY26 0.12 0.15 Beat by 0.03
Q2 FY26 0.13 0.14 Beat by 0.01
Q3 FY26 0.14 0.16 Beat by 0.02
Q4 FY26 0.15 — Reports 15 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.33) (0.25) (0.04) — —
’25 (0.07) 0.04 (0.04) (0.01) (0.08)
’24 0.17 0.00 (0.11) 0.26 0.33
’23 0.03 0.13 0.06 (0.27) (0.05)
’22 0.11 0.31 0.38 0.13 0.93
’21 0.04 0.07 0.06 0.00 0.17
’20 0.11 0.14 0.11 0.02 0.38
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 52 53 52 — —
’25 50 51 96 88 285
’24 66 68 73 67 274
’23 144 166 166 191 254
’22 83 104 126 158 471
’21 81 66 67 88 303
’20 90 97 98 99 384
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 12 29 — — —
’25 12 10 15 27 64
’24 46 17 27 21 112
’23 13 27 38 24 102
’22 31 20 28 39 117
’21 8 33 29 22 91
’20 20 29 18 23 91
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 4 12 — — —
’25 (3) 6 (1) 52 54
’24 23 10 39 10 82
’23 (10) 9 22 21 43
’22 1 5 (2) 19 24
’21 (1) 18 8 3 27
’20 (5) 10 3 10 18
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 258 303 193 257 384 303 471 254 274 285 245 +1.1% 210 214 226 (7.5%)
Gross margin, % 87.80 88.13 80.03 80.83 85.12 77.41 84.55 68.94 68.72 67.74 64.15 (20.1) pt
EBT 43 31 23 32 37 25 100 (4) 28 (1) (2) n/m
EBT margin, % 16.68 10.12 12.14 12.35 9.56 8.17 21.18 (1.39) 10.16 (0.40) (0.88) (17.1) pt
Net income 43 30 23 32 37 25 100 (4) 42 4 (50) (23.3%)
Per share, $
Per share, $ Revenue 7.82 7.14 4.07 4.84 6.69 4.99 6.97 3.75 3.88 3.56 0.00 (8.4%)
Earnings 0.85 0.50 0.36 0.41 0.38 0.17 0.93 (0.05) 0.33 (0.08) (0.63) n/m
Cash flow 1.72 1.21 1.18 1.28 1.59 1.50 1.73 1.50 1.59 0.80 1.10 (8.2%)
Capex (1.94) (1.37) (3.06) (2.88) (1.28) (1.06) (1.38) (0.87) (0.42) (0.13) (0.22) (25.8%)
Free cash flow (0.22) (0.16) (1.88) (1.61) 0.31 0.45 0.35 0.64 1.16 0.67 0.89 n/m
Book value 10.56 9.91 9.60 12.34 13.20 12.86 13.38 11.89 12.59 10.35 0.00 (0.2%)
Shares, m 33 42 48 53 57 61 68 68 71 80 79 +10.3%
Valuation, ×
Valuation, × P/E 16.90 31.06 39.06 45.88 29.53 89.53 12.43 0.00 31.97 0.00 0.00 29.6
P/S 1.88 2.18 3.46 3.79 1.68 3.05 1.66 1.26 2.97 1.86 2.02 2.4
P/B 1.39 1.57 1.47 1.65 1.10 1.52 1.07 1.33 1.13 0.81 0.91 1.3
EV/Sales 3.80 3.81 6.92 7.39 4.10 6.10 3.91 3.45 7.92 6.51 6.13 5.4
EV/FCF (137.70) (170.94) (14.96) (22.23) 89.38 68.22 78.17 53.40 26.40 34.59 22.52 0.4
Cash, $m
Cash, $m Operating cash flow 57 51 56 68 91 91 117 102 112 64 83 +1.3%
Capex (64) (58) (146) (153) (74) (64) (93) (59) (30) (11) (16) (18.2%)
Free cash flow (7) (7) (89) (85) 18 27 24 43 82 54 67 n/m
Balance, $m
Balance, $m Working capital 128 130 183 245 229 185 271 265 184 207 69 +5.5%
Net debt 497 494 670 925 931 923 1,063 1,459 1,355 1,567 1,010 +13.6%
Shareholders’ equity 349 420 456 655 757 780 904 805 890 829 693 +10.1%
Returns, %
Returns, % ROA 3.36 2.08 1.49 1.41 1.17 0.54 3.02 (0.14) 0.95 (0.23) (2.30) (3.6) pt
ROIC 4.23 2.72 1.78 1.69 1.80 2.17 4.27 1.69 2.58 2.11 2.54 (2.1) pt
ROE 9.77 5.47 3.93 4.12 3.70 1.73 9.42 (0.48) 3.56 (0.86) 0.00 (10.6) pt
People
People Employees 151 160 156 169 158 138 161 164 148 98 — (4.7%)
Revenue/emp, $m 1.71 1.89 1.24 1.52 2.43 2.19 2.93 1.55 1.85 2.91 — +6.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

AH Realty Trust Inc vs peers in Reit Diversified (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
AAT American Assets Trust, Inc. $1.3B 56.1× 62.5× +4.29% (above 0%: growing) +135.71% (above 0%: growing) −58.53% (below 0%: shrinking) 70.60% 25.77% Compare
JBGS JBG SMITH Properties $929.0M — (loss-making) — (loss-making) +2.29% (above 0%: growing) n/m +71.92% (above 0%: growing) 62.69% 2.98% Compare
ESRT Empire State Realty Trust, Inc. $917.6M 177× 110× +2.95% (above 0%: growing) n/m +42.29% (above 0%: growing) 74.97% (70.45%) Compare
CTO CTO Realty Growth, Inc. $781.4M 16.9× 45.8× +24.25% (above 0%: growing) n/m −258.74% (below 0%: shrinking) 75.31% 24.66% Compare
SAFE Safehold Inc. $752.8M 6.4× 7.0× +23.42% (above 0%: growing) +7.90% (above 0%: growing) −93.40% (below 0%: shrinking) 86.92% 71.85% Compare
AHRT AH Realty Trust Inc $621.2M — (loss-making) — (loss-making) −45.54% (below 0%: shrinking) n/m +105.02% (above 0%: growing) 67.15% 22.41%
FVR FrontView REIT, Inc. $568.2M — (loss-making) 12,360× +10.86% (above 0%: growing) −57.89% (below 0%: shrinking) +23.47% (above 0%: growing) 0.00% 0.00% Compare
GOOD Gladstone Commercial Corporation $511.5M 52.5× 45.7× +3.86% (above 0%: growing) n/m +123.61% (above 0%: growing) 78.29% 22.41% Compare
OLP One Liberty Properties, Inc. $455.9M 19.0× 18.4× +11.91% (above 0%: growing) −91.67% (below 0%: shrinking) +134.96% (above 0%: growing) 0.00% 30.66% Compare
Median of peers $767.1M 35.8× 45.8× +7.58% −24.99% +32.88% 72.79% 23.54%

All 16 Reit Diversified stocks →

Pay and ownership Proxy statement filed 30 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 6.09m 4.93m 82.00
2024 2.81m 2.62m 75.00
2023 2.54m 2.58m 84.00
2022 2.68m 2.49m 73.00
2021 2.10m 2.27m 91.00

Ownership

Directors and executive officers, together 0.30%
The Vanguard Group100 Vanguard Blvd. Malvern, PA 10.10%
BlackRock, Inc. 8.80%
Daniel A. Hoffler less than 1%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

AH Realty Trust Inc (AHRT) Latest News

3 Nov

Impact 3 · · Simply Wall St.
Impact 3 · · GuruFocus.com
Impact 3 · · MarketBeat transcript

2 Nov

Impact 4 · · GlobeNewswire
Impact 3 · · GlobeNewswire

4 Aug

Impact 4 ·
Impact 3 · · MarketBeat transcript

3 Aug

Impact 4 ·
Impact 3 ·

22 May

Impact 3 · · Zacks

21 May

Impact 5 · · GlobeNewswire

14 May

Impact 4 · · GlobeNewswire

6 May

Impact 4 · · MarketBeat

4 May

Impact 3 · · Zacks
Impact 3 · · GlobeNewswire

1 May

Impact 4 · · GlobeNewswire

30 Apr

Impact 3 · · GlobeNewswire

1 Apr

Impact 3 · · Zacks

31 Mar

Impact 4 ·

16 Mar

Impact 4 · · GlobeNewswire

17 Feb

Impact 4 · · GuruFocus.com
Impact 4 · · Moby
Impact 3 · · Simply Wall St.
Impact 3 · · MarketBeat
Impact 3 · · Associated Press Finance

16 Feb

Impact 4 · · GlobeNewswire
Impact 3 · · GlobeNewswire

3 Feb

Impact 3 · · Simply Wall St.

15 Jan

Impact 3 · · GlobeNewswire

7 Jan

Impact 3 · · Simply Wall St.
stockrow.com/AHRT · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com