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Universal Health Realty Income Trust (NYSE: UHT) is a premier real estate company specializing in healthcare properties. Headquartered in King of Prussia, Pennsylvania, UHT is dedicated to investing in and leasing healthcare and human service facilities. The company's robust portfolio includes acute care hospitals, behavioral health care hospitals, specialty facilities, medical office buildings, free-standing emergency departments, and childcare centers. UHT operates across 21 states in the United States.
Core Business: UHT's primary business model involves acquiring, developing, and leasing properties that are essential to the healthcare sector. By partnering with Universal Health Services, Inc. (UHS), UHT benefits from the management and operational expertise of one of the largest hospital management companies in the U.S.
Recent Achievements: In March 2023, UHT completed the Sierra Medical Plaza I in Reno, Nevada. This 86,000 square foot medical office building is a significant addition to their portfolio, located on the Northern Nevada Sierra Medical Center campus. Furthermore, UHT recently acquired the McAllen Doctor's Center, a 79,500-square-foot medical office building in McAllen, Texas, leased to McAllen Hospitals, L.P., a subsidiary of UHS.
Financial Highlights: For the three-month period ending June 30, 2023, UHT reported a net income of $3.5 million, or $0.25 per diluted share. This represents a decrease from the previous year's $5.2 million, or $0.38 per diluted share. The company attributed this decline to increased interest expenses and demolition costs. Despite these challenges, UHT maintains a strong financial position, with a focus on generating stable cash flows and regular dividend payments to shareholders.
Partnerships and Projects: UHT's collaboration with UHS provides a strategic advantage, offering reliable tenancy and steady income. Current projects include the ongoing management of 76 properties and the recent sale of a vacant specialty facility in Corpus Christi, Texas, which aligns with their strategy to optimize asset performance.
Outlook: UHT continues to explore high-quality investment opportunities in the healthcare sector. The company's strategic focus remains on expanding its portfolio while ensuring financial stability through prudent management and strategic partnerships.
Universal Health Realty Income Trust (NYSE:UHT) reported a net income of
This decline amounts to a decrease of
- An increase in interest expense by
$1.5 million due to higher borrowing rates. - Demolition costs of
$265,000 for a vacant facility.
Partially offsetting these declines, an increase in total income from various properties contributed
Funds from operations (FFO) decreased to
Universal Health Services, Inc. (UHS) reported a strong first quarter of 2023, achieving a net income of $163.1 million, or $2.28 per diluted share, up from $153.9 million or $2.02 per share in Q1 2022. Net revenues grew by 5.3% to $3.468 billion, compared to $3.293 billion in the prior year. Adjusted net income was $167.6 million, or $2.34 per diluted share, an increase from $163.5 million in the previous year. EBITDA also rose to $407.3 million from $368.3 million. Acute care services saw a 3.5% revenue increase, while behavioral health care services surged by 9.7%. However, net cash from operations decreased to $291 million from $445 million in 2022, primarily due to changes in working capital. The company has an available repurchase authorization of $869 million for its stock buyback program.
Universal Health Realty Income Trust (NYSE:UHT) announced a dividend of $.715 per share payable on March 31, 2023. Shareholders of record as of March 20, 2023 will receive this dividend. The Trust focuses on investments in healthcare-related facilities across the U.S., with 76 investments in 21 states. This announcement reflects the Trust's ongoing commitment to providing returns to its investors while maintaining a diversified portfolio in the healthcare sector.
Universal Health Realty Income Trust (NYSE: UHT) reported a net income of $5.6 million, or $0.41 per diluted share, for Q4 2022, down from $91.6 million, or $6.65 per diluted share, in Q4 2021, primarily due to a significant prior-year gain from asset divestitures. Adjusted net income remained stable year-over-year. For the full year 2022, net income fell to $21.1 million, or $1.53 per diluted share, from $109.2 million, or $7.92 per diluted share in 2021, reflecting a decrease in adjusted net income. Funds from operations (FFO) decreased to $12.4 million, or $0.90 per diluted share, in Q4 2022. The company is also managing vacant specialty facilities and ongoing construction projects.
Universal Health Services (UHS) reported a fourth-quarter net income of $174.8 million ($2.43 per share) for 2022, down from $239.1 million ($3.00 per share) in 2021. Despite a 5.2% increase in net revenues to $3.447 billion, adjusted net income decreased to $217.1 million ($3.02 per share) from $235.1 million ($2.95 per share) year-over-year. For the full year, UHS reported net income of $675.6 million ($9.14 per share), down from $991.6 million ($11.82 per share) in 2021. The company forecasted 2023 net revenues between $14.044 billion and $14.314 billion with adjusted EPS projected at $9.50 to $10.50.
Universal Health Realty Income Trust (NYSE: UHT) has announced an increase in its quarterly dividend, now set at $.715 per share, up by $.005. This dividend will be paid on December 30, 2022 to shareholders of record as of December 16, 2022. The Trust, which invests in healthcare and human service-related facilities, currently holds 76 investments in 21 states.
Universal Health Realty Income Trust (UHT) reported a decline in net income for Q3 2022, totaling $4.8 million ($0.35 per diluted share), down from $5.3 million ($0.39) in Q3 2021. Funds from operations (FFO) also fell to $11.8 million ($0.86) from $12.6 million ($0.92). Contributing factors included a $630,000 loss from a vacant specialty hospital and increased interest expenses. For the nine-month period, net income decreased to $15.5 million ($1.12) from $17.6 million ($1.27). The company declared a dividend of $0.71 per share, totaling $9.8 million, paid on September 30, 2022.
Universal Health Services, Inc. (UHS) has appointed Edward H. Sim as Executive Vice President and President of Acute Care, following Marvin Pember's retirement announcement. Sim, with nearly 30 years of experience, will oversee UHS Acute Care operations starting December 5. Marc D. Miller, President and CEO, highlighted Sim's background, including his role as COO at Centura Health, managing $5 billion in revenues. In 2021, UHS reported annual revenues of approximately $12.6 billion and continues to expand its healthcare services across the U.S. and abroad.
Universal Health Realty Income Trust (NYSE:UHT) declared a dividend of $.71 per share, payable on September 30, 2022, to shareholders of record as of September 19, 2022. The Trust invests in healthcare-related facilities, with 76 investments across 21 states, focusing on acute care hospitals and rehabilitation centers among others. This dividend reflects the Trust's ongoing commitment to providing value to its shareholders.
Universal Health Realty Income Trust (UHT) reported a decline in net income for Q2 2022, totaling $5.2 million ($0.38/share), down from $6.6 million ($0.48/share) in Q2 2021. Funds from operations (FFO) decreased to $12.2 million ($0.88/share) from $12.6 million ($0.92/share) year-over-year. The drop in net income was attributed mainly to a $737,000 reduction due to a vacant specialty hospital in Chicago, which had its lease expire at the end of 2021. For the first half of 2022, net income was $10.6 million ($0.77/share), down from $12.2 million ($0.89/share) in the same period of 2021.
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