AH Realty Trust, Inc.
For the period ended Sep 30, 2026. Filed Nov 4, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 4, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
(In thousands) (Unaudited)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities of continuing operations: | ||
| Net (loss) income | $(55,023) | $1,635 |
| Less: net loss (income) from discontinued operations, net of tax | 50,495 | (6,805) |
| Net (loss) income from continuing operations | (4,528) | (5,170) |
| Adjustments to reconcile net (loss) income from continuing operations to net cash provided by operating activities of continuing operations: | ||
| Depreciation of buildings and tenant improvements | 40,563 | 39,790 |
| Amortization of leasing costs, in-place lease intangibles, and right-of-use assets | 13,826 | 13,809 |
| Accrued straight-line rental revenue | (5,727) | (7,786) |
| Amortization of leasing incentives and above or below-market rents | (1,266) | (1,465) |
| Accrued straight-line ground rent expense | 15 | (22) |
| Unrealized credit loss provision (release) | 81 | (242) |
| Adjustment for uncollectible lease accounts | 1,463 | 2,129 |
| Noncash stock compensation | 4,105 | 5,900 |
| Impairment charges | 1,894 | 350 |
| Noncash interest expense | 2,069 | 3,302 |
| Gain on consolidation of real estate entities | — | (3,920) |
| Noncash loss on extinguishment of debt | 342 | 36 |
| Loss on real estate dispositions, net | 854 | — |
| Change in fair value of derivatives and other | 5,168 | 17,567 |
| Adjustment for receipts on off-market interest rate derivatives | (11,136) | (16,942) |
| Equity in (income) loss of unconsolidated real estate entities | (770) | 1,198 |
| Changes in operating assets and liabilities: | ||
| Property assets | 4,669 | (2,364) |
| Property liabilities | 9,390 | 2,640 |
| Net cash provided by operating activities of continuing operations | 61,012 | 48,810 |
| Cash flows from investing activities: | ||
| Development of real estate investments | (3,568) | (7,902) |
| Tenant and building improvements | (26,014) | (37,590) |
| Dispositions of real estate investments, net of selling costs | 18,301 | — |
| Notes receivable issuances | (9,016) | — |
| Notes receivable paydowns | 1,907 | — |
| Payments to purchase off-market interest rate derivatives | — | (18,535) |
| Receipts on off-market interest rate derivatives | 11,136 | 16,942 |
| Leasing costs | (3,789) | (5,949) |
| Return of capital from equity method investments | 1,468 | — |
| Investments in equity method investments | (10,555) | (6,615) |
| Net cash used for investing activities of continuing operations | (20,130) | (59,649) |
| Cash flows from financing activities: | ||
| Costs from issuance of common stock, net | (196) | (94) |
| Common shares tendered for tax withholding | (367) | (1,377) |
| Repurchase and retirement of common stock, including commissions | (38,305) | — |
| Debt issuances, credit facility, and construction loan borrowings | 96,270 | 340,044 |
| Debt and credit facility repayments, including principal amortization | (373,086) | (170,388) |
| Debt issuance costs | (1,442) | (1,759) |
| Principal prepayments on extinguishment of debt | (46,702) | (69,460) |
| Acquisition of non-controlling interest in consolidated real estate investments | (2,003) | (4,227) |
| Redemption of operating partnership units | — | (15) |
| Distributions to noncontrolling interests | (1,114) | (499) |
| Contributions from noncontrolling interests | 3,719 | — |
| Dividends and distributions | (50,332) | (69,210) |
| Net cash (used for) provided by financing activities of continuing operations | (413,558) | 23,015 |
Condensed Consolidated Statements of Cash Flows (Continued)
(In thousands) (Unaudited)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from discontinued operations: | ||
| Net cash flows provided by (used in) operating activities of discontinued operations | 4,620 | (11,310) |
| Net cash flows provided by (used in) investing activities of discontinued operations | 354,633 | (19,881) |
| Net cash flows used in financing activities of discontinued operations | (4,032) | (3,384) |
| Net cash flows from discontinued operations | 355,221 | (34,575) |
| Net decrease in cash, cash equivalents, and restricted cash | (17,455) | (22,399) |
| Cash, cash equivalents, and restricted cash, beginning of period (including discontinued operations)(1) | 54,183 | 72,223 |
| Cash, cash equivalents, and restricted cash, end of period (including discontinued operations)(1) | $36,728 | $49,824 |
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Supplemental Disclosures: | ||
| Decrease in dividends and distributions payable | $(771) | $(17,685) |
| Decrease in accrued capital improvements and development costs | (5,814) | (6,811) |
| Operating Partnership units redeemed for common shares | 179 | 2,528 |
| Fair value of note receivable as partial consideration for disposition of general contracting and real estate services business | 777 | — |
| Equity method investment redeemed due to consolidation | — | 114,689 |
| Notes receivable redeemed for acquisition of non-controlling interests | — | 13,335 |
| Parcel consideration for acquisition of non-controlling interests | — | 16,653 |
(1)The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported in the Condensed Consolidated Statements of Cash Flows (in thousands):
| September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Beginning of year: | ||
| Cash and cash equivalents(1) | $40,743 | $21,986 |
| Restricted cash(2)(3) | 1,622 | 103 |
| Cash, cash equivalents, and restricted cash | $42,365 | $22,089 |
| End of quarter: | ||
| Cash and cash equivalents(4) | $27,215 | $25,184 |
| Restricted cash(2)(5) | 1,694 | 1,558 |
| Cash, cash equivalents, and restricted cash | $28,909 | $26,742 |
(1)Excludes cash and cash equivalents from discontinued operations as of December 31, 2025 and December 31, 2024 of $10.2 million and $48.7 million, respectively.
(2)Restricted cash represents amounts held by lenders for real estate taxes, insurance, and reserves for capital improvements.
(3)Excludes restricted cash from discontinued operations as of December 31, 2025 and December 31, 2024 of $1.6 million and $1.5 million, respectively.
(4)Excludes cash and cash equivalents from discontinued operations as of September 30, 2026 and September 30, 2025 of $4.9 million and $21.3 million, respectively.
(5)Excludes restricted cash from discontinued operations as of September 30, 2026 and September 30, 2025 of $2.9 million and $1.8 million, respectively.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.