--- title: "AH Realty Trust | 8-K: FY2026 Q1 Revenue: USD 52.32 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285113766.md" datetime: "2026-05-04T20:09:01.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285113766.md) - [en](https://longbridge.com/en/news/285113766.md) - [zh-HK](https://longbridge.com/zh-HK/news/285113766.md) --- # AH Realty Trust | 8-K: FY2026 Q1 Revenue: USD 52.32 M Revenue: As of FY2026 Q1, the actual value is USD 52.32 M. EPS: As of FY2026 Q1, the actual value is USD -0.33. EBIT: As of FY2026 Q1, the actual value is USD 25.35 M. ### Segment Revenue Total revenues for AH REALTY TRUST INC were $52,317 thousand in the first quarter of 2026, an increase from $50,182 thousand in the first quarter of 2025. Rental revenues accounted for the entirety of these figures, standing at $52,317 thousand in Q1 2026, up from $50,182 thousand in Q1 2025. ### Operational Metrics AH REALTY TRUST INC reported a net loss attributable to common stockholders and OP Unitholders of - $33.3 million for Q1 2026, which is an increase from a net loss of - $7.2 million for the same period in 2025. The net loss attributable to AHRT and OP Unitholders was - $33,291 thousand for the three months ended March 31, 2026, compared to - $7,227 thousand for the same period in 2025. The net loss per diluted share and unit was - $0.33 for Q1 2026, compared to - $0.07 for the prior year. This change was primarily due to a $29.2 million impairment of notes receivable in Q1 2026 as real estate financing investments were transferred to held for sale status. The loss from continuing operations was - $493 thousand in Q1 2026, an improvement from - $6,604 thousand in Q1 2025. The loss from discontinued operations, net of taxes, was - $29,889 thousand in Q1 2026, compared to an income of $2,261 thousand in Q1 2025. Total expenses decreased to $40,549 thousand in Q1 2026 from $42,325 thousand in Q1 2025. Key expense items included rental expenses of $12,857 thousand in Q1 2026 (up from $11,369 thousand in Q1 2025), real estate taxes of $4,735 thousand (up from $4,717 thousand), depreciation and amortization of $18,241 thousand (down from $19,030 thousand), and general and administrative expenses of $4,716 thousand (down from $7,155 thousand). Operating income for Q1 2026 was $11,627 thousand, an increase from $7,857 thousand in Q1 2025. Interest expense increased to - $13,782 thousand in Q1 2026 from - $12,437 thousand in Q1 2025. ### Unique Metrics Funds from Operations (FFO) attributable to common stockholders and OP Unitholders increased to $20.6 million, or $0.20 per diluted share, for Q1 2026, up from $17.2 million, or $0.17 per diluted share, in the prior year. FFO was $20,598 thousand for Q1 2026, with FFO per diluted share at $0.20. FFO, As Adjusted attributable to common stockholders and OP Unitholders rose to $15.1 million, or $0.15 per diluted share, in Q1 2026, compared to $14.6 million, or $0.14 per diluted share, in Q1 2025. FFO, As Adjusted was $15,110 thousand for Q1 2026, with FFO, As Adjusted per diluted share at $0.15. Adjusted Funds From Operations (AFFO) was $19,884 thousand for Q1 2026, with AFFO per diluted share at $0.19. An impairment of real estate assets of $29,229 thousand was recorded for Q1 2026. Retail Same Store NOI increased by 2.2% on a cash basis to $16,177 thousand in Q1 2026, compared to $15,829 thousand for Q1 2025. Office Same Store NOI increased by 0.7% on a cash basis to $12,630 thousand in Q1 2026, compared to $12,545 thousand for Q1 2025. Overall, Same Store NOI, Cash increased by 1.5% to $28,807 thousand for Q1 2026, from $28,374 thousand in 2025. Total Property NOI was $34,725 thousand in Q1 2026, up from $34,096 thousand in Q1 2025. As of March 31, 2026, AH REALTY TRUST INC had $1.5 billion of total debt outstanding, including $211.0 million under its revolving credit facility. Approximately 98% of the company’s debt was fixed or economically hedged. Assets of discontinued operations were $705,981 thousand as of March 31, 2026, down from $800,536 thousand as of December 31, 2025. The Net Debt / Total Adjusted EBITDAre ratio was 8.3x as of March 31, 2026, and Net Debt + Preferred / Total Adjusted EBITDAre was 9.2x. Weighted average stabilized portfolio leased occupancy stood at 95.4% as of March 31, 2026, with retail leased occupancy at 94.8% and office leased occupancy at 96.0%. Weighted average stabilized portfolio economic occupancy was 90.1%, comprising 92.5% for retail and 87.7% for office. AH REALTY TRUST INC achieved positive office new lease spreads of 9.6% (GAAP) and 7.2% (Cash), while retail renewal spreads were positive at 10.7% (GAAP) and 4.5% (Cash). The company executed 20 commercial lease renewals and 11 new commercial leases, totaling 130,667 net rentable square feet, during the first quarter. AH REALTY TRUST INC announced a binding agreement to sell an 11-asset multifamily portfolio for $562.0 million in cash, the sale of Peachtree and North Creek real estate financing investments for $63.8 million, and the sale of the construction business for $2.4 million as part of its strategic restructuring. Through April 2, 2026, AH REALTY TRUST INC repurchased 4.2 million shares of common stock for a total of $24.1 million. During the three months ended March 31, 2026, the company repurchased 3.7 million shares of common stock. ### Outlook / Guidance AH REALTY TRUST INC has raised its full-year 2026 FFO, As Adjusted guidance range to $0.51 to $0.55 per diluted share. This guidance assumes the disposition of the general contracting and real estate services business, most of the multifamily portfolio, and the exit of the remaining real estate financing portfolio in 2026, with no acquisitions planned and capital redirected towards share repurchases. The company anticipates Retail Same-Store NOI Cash growth of 1.50% and Office Same-Store NOI Cash growth of 1.95%, projecting Retail NOI between $68.5 million and $70.0 million, Office NOI between $58.5 million and $60.0 million, and total commercial NOI between $130.4 million and $133.9 million for 2026. ### Related Stocks - [AHRT.US](https://longbridge.com/en/quote/AHRT.US.md) ## Related News & Research - [AH Realty Trust Announces Quarterly Dividend | AHRT Stock News](https://longbridge.com/en/news/286152922.md) - [AH Realty Trust Increases Share Repurchase Authorization to $100 Million | AHRT Stock News](https://longbridge.com/en/news/286396371.md) - [The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance | HD Stock News](https://longbridge.com/en/news/286890512.md) - [Advance Auto Parts Reports First Quarter 2026 Results; Reaffirms Full Year 2026 Guidance | AAP Stock News](https://longbridge.com/en/news/287202242.md) - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md)