American Healthcare REIT files to go public, with an NYSE listing expected

American Healthcare REIT Inc. has filed for an initial public offering of common stock, but the terms of the IPO have not yet been determined. The California-based real estate investment trust focused on health care properties said it expects the stock to list on the New York Stock Exchange (NYSE) under the ticker symbol “AHR.” BofA Securities, Citigroup and KeyBanc Capital Markets are the joint book-running managers. For the six months ended June 30, the company reported a net loss of $17.1 million on revenue of $764.4 million, after a loss of $24.1 million on revenue of $599.4 million in the same period a year ago. The company is looking to go public as investor interest in recently IPO’s stock has picked up recently, but has lagged the broader market by a wide margin this year. The Renaissance IPO ETF IPO, -4.64% has run up 12.9% over the past three months but has tumbled 46.3% year to date, while the S&P 500 SPX, -0.72% has gained 5.4% the past three months while losing 18.9% this year.