AHR // American Healthcare REIT Inc.

DES <GO> NYSE CIK 0001632970 ↗

Financials • Real Estate Investment Trusts

$52.94 ▲ +1.44 (+2.80%)

MKT CAP: $12.34B • VOL: 3.85M

52W L $45 52W H $59

ALTMAN Z

4.12 SAFE

PIOTROSKI

8 / 9

AHR // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE

PRIOR: RQD 67/100 [C+] (+0 PT) • UNCHANGED AS OF 2026-11-01

ROARABLE C+

RQD CONFIDENCE

67 / 100 +0D

5 X 20-PT QUANT PILLARS

E 0 D 35 C 59 B 70 A 86+

Roarable Hold — Upper Neutral / Watch for Breakout

01 MASSIVE / SEC XBRL

Forensic Fundamentals

12 / 20

NEUTRAL

FCF +119.2% vs NI +200% • ROIC-WACC -1.2% • Z 4.12

02 OPRA GEX + SEC 13F

Whale & Options Flow

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

03 SEC FORM 4 (90D)

Insider Conviction

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

04 FRED 90D r-MATRIX

Macro Regime Fit

17 / 20

STRONG

TAILWIND • r(10Y)=+0.00 (+23bp) • r(OAS)=+0.00

05 10-K REDLINE AUDIT

Forensic 10-K Risk

16 / 20

STRONG

20 BASE - 4 DEDUCT • 0 CRIT / 0 MED • STABLE

ALERT

Why did AHR's Whale & Options Flow & Insider Conviction sub-score just flash a warning? Enter your email to unlock the full 5-Pillar Rating Breakdown + get instant alerts whenever AHR is Upgraded or Downgraded.

SIG <GO> CROSS-FEED TRIANGULATION // PROPRIETARY ANOMALY ENGINE (1 ACTIVE ON AHR)

STAGE 2 DETERMINISTIC Z-SCORE + STAGE 3 GEEK DESK BRIEF ALL MARKET ANOMALIES <SIG>

▼ BEARISH // F-RATED EARNINGS MIRAGE // ACCRUAL WATCHSIFTER 02 // ACCRUAL & RECEIVABLES FORENSICS

SEVERITY: 84/100 Z-SCORE: +2.54σ

AHR Accounting Gap: Net Income (+220%) Outpaced OCF (+67.2%) With +8.3% Working-Capital Build

CASH CONVERSION GAP

+152.8% (NI vs OCF)

RECEIVABLES / WC BLOAT

+8.3% VS REV

60D C-SUITE FORM 4 SALES

0 OPEN-MKT DUMPS

[GEEK DESK FORENSIC NOTE // SEC XBRL × FORM 4 CROSS-CHECK]

SEC EDGAR XBRL CompanyFacts10-K/10-Q Working Capital ScheduleSEC Form 4 Executive Sales

SEC EDGAR XBRL triangulation on American Healthcare REIT Inc. (AHR) exposes a +152.8% Cash Conversion Gap as YoY Net Income growth (+220.0%) diverged from Operating Cash Flow growth (+67.2%). Non-cash current assets and receivables expanded +8.3% relative to top-line revenue growth. Monitor upcoming 10-Q cash realization closely for accrual mean-reversion.

AHR // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +5.40%⚡ TESTING RESISTANCE

2026-10-30O $53.47H $54.20L $52.98C $53.52VOL 2.91M

RES: $54.30SUP: $48.05SMA50: $53.17SMA200: $51.47

AHR // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE

UNDERWEIGHT CONVICTION: 28/100

BEAR 0

100 BULL

American Healthcare REIT Inc. (AHR) exhibits 14.4% gross margins and 8.1% return on invested capital within Financials (Real Estate Investment Trusts), balanced against a 26.4x enterprise multiple and 7.3% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)

01. Operating Leverage & Capital Efficiency Moat

Sustained 14.4% gross profitability converts into 19.8% operating margin and 8.1% ROIC, outpacing sector cost of capital.

ROIC: 8.1% // GM: 14.4%

02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +11.2% paired with 1.62% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +11.2% // FCF YLD: 1.62%

03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 4.12 and Piotroski F-Score of 8/9 indicate low near-term refinancing stress.

ALTMAN Z: 4.12 // F-SCORE: 8/9

▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)

01. Multiple Compression & Duration Sensitivity

Trading at 174.3x trailing P/E (140.0x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 174.3x // EV/EBITDA: 26.4x

02. Options Skew & Event Volatility Risk

Options market prices a ±7.3% implied move with a 0.77 put/call ratio around $52.00 max pain.

IMPL MOVE: ±7.3% // P/C: 0.77

03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Real Estate Investment Trusts require continuous execution to defend 3.4% net margins.

NET MARGIN: 3.4% // D/E: 0.26x

KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs 140.0x forward consensus, and institutional 13F positioning.

MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 1.11).

FORM 4 & 13F FLOW OPEN OWN <GO>

FILER	SIDE	$ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>

UNUSUAL OPTIONS TAPE OPEN OPT <GO>

STRIKE / EXP	TYPE	PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>

KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>

TRAILING P/E 174.3x

FORWARD P/E 140.0x

EV / EBITDA 26.4x

FCF YIELD 1.62%

GROSS MARGIN 14.4%

OPERATING MARGIN 19.8%

NET MARGIN 3.4%

ROIC % 8.1%

REV GROWTH YOY +11.2%

DILUTED EPS TTM $0.30

DEBT / EQUITY 0.26x

DIVIDEND YIELD 1.32%

RSI-14 MOMENTUM 54.6

5Y EQUITY BETA 1.11

FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>

MACRO CORRELATION CALIBRATION ACTIVE BELOW.

FRED MACRO REGIME STRESS-TEST SIMULATOR // AHRPEARSON R VARIANCE ENGINE

01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO

02 // POSITION NOTIONAL EXPOSURE

HEADLINE STRESS SCORE

75/100SEVERE DRAWDOWN PRESSURE

PRIMARY FACTOR EXPOSURE

DFII10 // -0.61 r

Latest: 2.08%

EST. DIRECTIONAL MOVE

-8.50%

Implied Px: $48.44

EST. DOLLAR VARIANCE

-$4,248

On $50,000 Notional

[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for AHR & activate live FRED threshold breach alerts.

HEAD-TO-HEAD PEER COMPARISONS COMP <GO>

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