Leadership Appointments Focused on Next Phase of Growth

Research evidence excerpt

Leadership Appointments Focused on Next Phase of Growth

Update

July 24, 2026 04:01 AM GMT

Morgan Stanley & Co. LLCMAmerican Healthcare REIT, Inc. | North America Ronald Kamdem, CFA

Equity Analyst

Leadership Appointments Ronald.Kamdem@morganstanley.comDerrick Metzler +1 212 296-8319

Research Associate

Derrick.Metzler@morganstanley.com +1 212 761-3366

Focused on Next Phase of Adam Kramer

Adam.Kramer@morganstanley.com +1 212 761-4623

Growth

American Healthcare REIT, Inc. (AHR.N, AHR US)

Real Estate Investment Trusts | United States of America

Key Takeaways Stock Rating Overweight

Industry View In-Line

AHR named Chairman and co-founder Jeff Hanson CEO after he had served as Price target $55.00

Interim CEO since February 2026. Shr price, close (Jul 23, 2026) $56.38

Mkt cap, curr (mm) $10,746

Gabe Willhite was promoted to President and remains COO; Danny Prosky 52-Week Range $58.00-36.74

retired as an executive but remains a director and advisor.

Scott Estes, an independent member of the Board of Directors, has been

appointed Lead Independent Director.

Our conversation with management suggests the appointments could accelerate

execution without changing strategy, with greater focus on scaling the platform.

Initial reaction constructive: Appointments maintain continuity and expect

minimal disruption w/ continued focus on execution, growth and quality of care.

What happened? On July 22, 2026, AHR announced that Jeff Hanson has been

named Chief Executive Officer, effective immediately, while continuing to serve as

Chairman of the Board. Hanson, a co-founder of AHR, had served as Interim CEO

since February 2026, when Danny Prosky began a medical leave of absence

following a serious health event.

Prosky, who had served as President and CEO since the company’s formation, has