# AH REALTY TRUST INC (AHRT)

> Source: Nexqual · https://nexqual.com/AHRT · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, AH REALTY TRUST INC (AHRT), nexqual.com/AHRT" · informational, not investment advice.

**Price:** USD 6.14 (+3.54% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 5.93 · day 5.99–6.15 · 52w 5.13–7.33 · market cap $589M · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $214M, net income -$36.5M (-17.1% margin) (SEC filings).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $18K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 3.00 on a 1–5 scale) (4 analysts), mean target USD 7.25 (range 7–8).
- Total return with dividends: 1Y -0.5% vs S&P 500 +14.9%; 5Y -34.0% vs S&P 500 +80.3%.
- Next earnings: 2026-11-02, EPS estimate USD -0.05, revenue estimate $52.6M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $303M | $471M | $413M | $433M | $285M | $214M |
| Gross profit | $143M | $167M | $184M | — | — | — |
| Operating income | $59.2M | $134M | $61.1M | $92.5M | $80.9M | $48.5M |
| Net income | $21.9M | $74.7M | $8.3M | $35.6M | $5.6M | -$36.5M |
| EPS (diluted) | $0.17 | $0.94 | -$0.05 | $0.34 | -$0.07 | — |
| Gross margin | 47.2% | 35.5% | 44.5% | — | — | — |
| Operating margin | 19.6% | 28.5% | 14.8% | 21.4% | 28.4% | 22.7% |
| Net margin | 7.2% | 15.9% | 2.0% | 8.2% | 2.0% | -17.1% |
| Revenue growth | -21.1% | +55.7% | -12.3% | +4.9% | -34.2% | — |
| Cash + short-term investments | $35.2M | $47.5M | $20.0M | $22.0M | $40.7M | — |
| Total debt | $918M | $1.07B | $1.40B | $1.30B | $1.28B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 2.8x · EV/EBITDA 13.5x · EV/Sales 7.1x · P/B 1.1x · Earnings yield -6.20% · Dividend yield (paid, TTM) 13.35% · Net debt $935M · EV $1.52B
P/E at fiscal year-ends: Dec 2025 94.6x, Dec 2024 20.3x, Dec 2023 101.0x.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $18K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-09-28 | Wittman Lori | Director | 3,000 | $18K | 5.95 | Too little history (no open-market trades in 2023–2025) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 3.00 on a 1–5 scale), 4 analysts; mean target USD 7.25 (low 7, high 8).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -0.5% | -34.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -0.5% | -7.9% |
| Volatility (annualized) | 28.9% | 27.7% |
| Max drawdown | -27.1% (Feb 2026→Mar 2026) | -54.5% (Nov 2021→Mar 2026) |

## Peers (REIT - Diversified)
GOOD (Gladstone Commercial Corporatio) USD 12 +3.18% · FVR (FrontView REIT, Inc.) USD 17.76 +3.14% · OLP (One Liberty Properties, Inc.) USD 22.37 +3.14% · CTO (CTO Realty Growth, Inc.) USD 20.25 +3.42% · SAFE (Safehold Inc. New) USD 11.33 +6.29% · JBGS (JBG SMITH Properties) USD 11.39 +6.35%

## More
Full page: https://nexqual.com/AHRT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2025-09-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| General Contracting and Real Estate Services | $23.2M | 100.0% | -79.7% |
| Total revenue | $23.2M | 100% | — |

## Customer concentration

Period ended 2025-12-31: 62%, 13%, 12% of revenue from unnamed direct customers (10-K, filed 2026-02-26).

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.05 | $0.02 | -350.0% | $52.6M | 2 |
| Next quarter (ends 2026-12-31) | $-0.04 | $0.04 | -200.0% | $52.5M | 2 |
| Current fiscal year (ends 2026-12-31) | $-0.67 | $-0.23 | +189.1% | $209.9M | 2 |
| Next fiscal year (ends 2027-12-31) | $-0.10 | $0.15 | -166.7% | $214.3M | 1 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-02): ±22.0%; last 8 reports averaged ±3.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 83.7% | ±22.0% |
| 2027-02-19 | 119 | 85.2% | ±21.6% |