Universal Health Realty Income Trust (UHT)
Market Price (7/30/2026): $44.83 | Market Cap: $620.1 MilSector: Real Estate | Industry: Health Care REITs
Universal Health Realty Income Trust (UHT)
Market Price (7/30/2026): $44.83Market Cap: $620.1 MilSector: Real EstateIndustry: Health Care REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.5%, Dividend Yield is 6.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.2%, FCF Yield is 8.0% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 50%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 50% Low stock price volatilityVol 12M is 24% Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease. Themes include Geriatric Care, Oncology Treatments, and Diabetes Management. | Trading close to highsDist 52W High is -2.5%, Dist 3Y High is -2.5% Weak multi-year price returns2Y Excs Rtn is -11%, 3Y Excs Rtn is -48% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 62% Weak revenue growthRev Chg QQuarterly Revenue Change % is -0.1% Key risksUHT key risks include [1] a significant tenant concentration with its advisor, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.5%, Dividend Yield is 6.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.2%, FCF Yield is 8.0% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 50%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 50% |
| Low stock price volatilityVol 12M is 24% |
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease. Themes include Geriatric Care, Oncology Treatments, and Diabetes Management. |
| Trading close to highsDist 52W High is -2.5%, Dist 3Y High is -2.5% |
| Weak multi-year price returns2Y Excs Rtn is -11%, 3Y Excs Rtn is -48% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 62% |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -0.1% |
| Key risksUHT key risks include [1] a significant tenant concentration with its advisor, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 7/27/2026
Universal Health Realty Income Trust (UHT) stock has gained about 15% since 3/31/2026 because of the following key factors:
1. Strong Financial Performance in Fiscal Q1 and Q2 2026.
Universal Health Realty Income Trust reported an increase in net income for fiscal Q1 2026 to $5.0 million, or $0.36 per diluted share. This positive trend continued into fiscal Q2 2026, with net income rising to $5.9 million, or $0.43 per diluted share, compared to $4.5 million, or $0.32 per diluted share, in fiscal Q2 2025. Funds From Operations (FFO) also increased to $0.90 per diluted share in fiscal Q2 2026, up from $0.85 per diluted share during the comparable period of 2025. This increase was partly attributable to increased income generated at various properties and a decrease in interest expense due to a lower average effective borrowing rate.
2. Increased Quarterly Dividend.
The company's Board of Trustees voted to increase the quarterly dividend by $0.005, raising it to $0.75 per share, which was payable on June 30, 2026, to shareholders of record as of June 22, 2026. This dividend increase, announced on June 10, 2026, highlights management's confidence and contributes to the stock's attractiveness for income-focused investors.
Show more
Universal Health Realty Income Trust (UHT) stock has gained about 15% since 3/31/2026 because of the following key factors:
1. Strong Financial Performance in Fiscal Q1 and Q2 2026.
Universal Health Realty Income Trust reported an increase in net income for fiscal Q1 2026 to $5.0 million, or $0.36 per diluted share. This positive trend continued into fiscal Q2 2026, with net income rising to $5.9 million, or $0.43 per diluted share, compared to $4.5 million, or $0.32 per diluted share, in fiscal Q2 2025. Funds From Operations (FFO) also increased to $0.90 per diluted share in fiscal Q2 2026, up from $0.85 per diluted share during the comparable period of 2025. This increase was partly attributable to increased income generated at various properties and a decrease in interest expense due to a lower average effective borrowing rate.
2. Increased Quarterly Dividend.
The company's Board of Trustees voted to increase the quarterly dividend by $0.005, raising it to $0.75 per share, which was payable on June 30, 2026, to shareholders of record as of June 22, 2026. This dividend increase, announced on June 10, 2026, highlights management's confidence and contributes to the stock's attractiveness for income-focused investors.
Show more
Updated on 7/27/2026
Universal Health Realty Income Trust (UHT) stock has gained about 15% since 3/31/2026 because of the following key factors:
1. Strong Financial Performance in Fiscal Q1 and Q2 2026.
Universal Health Realty Income Trust reported an increase in net income for fiscal Q1 2026 to $5.0 million, or $0.36 per diluted share. This positive trend continued into fiscal Q2 2026, with net income rising to $5.9 million, or $0.43 per diluted share, compared to $4.5 million, or $0.32 per diluted share, in fiscal Q2 2025. Funds From Operations (FFO) also increased to $0.90 per diluted share in fiscal Q2 2026, up from $0.85 per diluted share during the comparable period of 2025. This increase was partly attributable to increased income generated at various properties and a decrease in interest expense due to a lower average effective borrowing rate.
2. Increased Quarterly Dividend.
The company's Board of Trustees voted to increase the quarterly dividend by $0.005, raising it to $0.75 per share, which was payable on June 30, 2026, to shareholders of record as of June 22, 2026. This dividend increase, announced on June 10, 2026, highlights management's confidence and contributes to the stock's attractiveness for income-focused investors.
3. Expanded Credit Agreement and Enhanced Financial Flexibility.
In April 2026, Universal Health Realty Income Trust amended its credit agreement, increasing its borrowing capacity by $50 million to a total of $475 million. This expansion provides the company with greater financial flexibility for operational needs and potential strategic investments.
4. Favorable Macroeconomic Tailwinds for Healthcare REITs.
The broader healthcare REIT sector experienced a positive rebound in the first half of 2026, with the industry regaining its footing and showing improved valuations and equity returns. Healthcare was the top-performing sector in 2025 and continued its strong performance into 2026, driven by demographic demand tailwinds and limited new supply. This positive environment, particularly the demand for outpatient care facilities and medical office buildings, directly benefits UHT, which has extensive exposure to these property types.
5. Positive Market Momentum and Analyst Sentiment.
Universal Health Realty Income Trust's stock demonstrated a "bullish recovery" since June 2026, with technical indicators showing an upward trend and the shares trading above moving averages. The stock has also outperformed the S&P 500 this year. Analyst sentiment is positive, with some rating the stock as a "buy," citing its diversified national healthcare portfolio, strong EBITDA margins compared to peers, and resilient leasing income.
Show less
Universal Health Realty Income Trust (UHT) stock has gained about 15% since 3/31/2026 because of the following key factors:
1. Strong Financial Performance in Fiscal Q1 and Q2 2026.
Universal Health Realty Income Trust reported an increase in net income for fiscal Q1 2026 to $5.0 million, or $0.36 per diluted share. This positive trend continued into fiscal Q2 2026, with net income rising to $5.9 million, or $0.43 per diluted share, compared to $4.5 million, or $0.32 per diluted share, in fiscal Q2 2025. Funds From Operations (FFO) also increased to $0.90 per diluted share in fiscal Q2 2026, up from $0.85 per diluted share during the comparable period of 2025. This increase was partly attributable to increased income generated at various properties and a decrease in interest expense due to a lower average effective borrowing rate.
2. Increased Quarterly Dividend.
The company's Board of Trustees voted to increase the quarterly dividend by $0.005, raising it to $0.75 per share, which was payable on June 30, 2026, to shareholders of record as of June 22, 2026. This dividend increase, announced on June 10, 2026, highlights management's confidence and contributes to the stock's attractiveness for income-focused investors.
3. Expanded Credit Agreement and Enhanced Financial Flexibility.
In April 2026, Universal Health Realty Income Trust amended its credit agreement, increasing its borrowing capacity by $50 million to a total of $475 million. This expansion provides the company with greater financial flexibility for operational needs and potential strategic investments.
4. Favorable Macroeconomic Tailwinds for Healthcare REITs.
The broader healthcare REIT sector experienced a positive rebound in the first half of 2026, with the industry regaining its footing and showing improved valuations and equity returns. Healthcare was the top-performing sector in 2025 and continued its strong performance into 2026, driven by demographic demand tailwinds and limited new supply. This positive environment, particularly the demand for outpatient care facilities and medical office buildings, directly benefits UHT, which has extensive exposure to these property types.
5. Positive Market Momentum and Analyst Sentiment.
Universal Health Realty Income Trust's stock demonstrated a "bullish recovery" since June 2026, with technical indicators showing an upward trend and the shares trading above moving averages. The stock has also outperformed the S&P 500 this year. Analyst sentiment is positive, with some rating the stock as a "buy," citing its diversified national healthcare portfolio, strong EBITDA margins compared to peers, and resilient leasing income.
Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →
Stock Movement Drivers
Fundamental Drivers
The 12.7% change in UHT stock from 3/31/2026 to 7/29/2026 was primarily driven by a 11.2% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 7292026 | Change |
|---|---|---|---|
| Stock Price ($) | 39.67 | 44.69 | 12.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 99 | 99 | 0.0% |
| Net Income Margin (%) | 17.8% | 18.0% | 1.4% |
| P/E Multiple | 31.2 | 34.6 | 11.2% |
| Shares Outstanding (Mil) | 14 | 14 | 0.0% |
| Cumulative Contribution | 12.7% |
Market Drivers
3/31/2026 to 7/29/2026| Return | Correlation | |
|---|---|---|
| UHT | 12.7% | |
| Market (SPY) | 12.2% | -3.2% |
| Sector (XLRE) | 12.6% | 54.9% |
Fundamental Drivers
The 18.5% change in UHT stock from 12/31/2025 to 7/29/2026 was primarily driven by a 19.1% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 7292026 | Change |
|---|---|---|---|
| Stock Price ($) | 37.73 | 44.69 | 18.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 99 | 99 | -0.2% |
| Net Income Margin (%) | 18.1% | 18.0% | -0.3% |
| P/E Multiple | 29.1 | 34.6 | 19.1% |
| Shares Outstanding (Mil) | 14 | 14 | 0.0% |
| Cumulative Contribution | 18.5% |
Market Drivers
12/31/2025 to 7/29/2026| Return | Correlation | |
|---|---|---|
| UHT | 18.5% | |
| Market (SPY) | 7.3% | 3.3% |
| Sector (XLRE) | 14.7% | 53.0% |
Fundamental Drivers
The 20.5% change in UHT stock from 6/30/2025 to 7/29/2026 was primarily driven by a 26.5% change in the company's P/E Multiple.| (LTM values as of) | 6302025 | 7292026 | Change |
|---|---|---|---|
| Stock Price ($) | 37.09 | 44.69 | 20.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 98 | 99 | 0.8% |
| Net Income Margin (%) | 19.0% | 18.0% | -5.3% |
| P/E Multiple | 27.4 | 34.6 | 26.5% |
| Shares Outstanding (Mil) | 14 | 14 | -0.2% |
| Cumulative Contribution | 20.5% |
Market Drivers
6/30/2025 to 7/29/2026| Return | Correlation | |
|---|---|---|
| UHT | 20.5% | |
| Market (SPY) | 19.1% | 2.6% |
| Sector (XLRE) | 13.8% | 48.7% |
Fundamental Drivers
The 16.6% change in UHT stock from 6/30/2023 to 7/29/2026 was primarily driven by a 32.2% change in the company's P/E Multiple.| (LTM values as of) | 6302023 | 7292026 | Change |
|---|---|---|---|
| Stock Price ($) | 38.32 | 44.69 | 16.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 92 | 99 | 8.2% |
| Net Income Margin (%) | 22.0% | 18.0% | -18.1% |
| P/E Multiple | 26.2 | 34.6 | 32.2% |
| Shares Outstanding (Mil) | 14 | 14 | -0.4% |
| Cumulative Contribution | 16.6% |
Market Drivers
6/30/2023 to 7/29/2026| Return | Correlation | |
|---|---|---|
| UHT | 16.6% | |
| Market (SPY) | 70.4% | 24.4% |
| Sector (XLRE) | 33.9% | 58.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| UHT Return | -3% | -15% | -4% | -7% | 13% | 20% | -1% |
| Peers Return | 3% | -9% | 3% | 18% | 6% | 26% | 54% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| UHT Win Rate | 42% | 50% | 50% | 50% | 58% | 86% | |
| Peers Win Rate | 52% | 45% | 48% | 65% | 52% | 63% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| UHT Max Drawdown | -24% | -29% | -32% | -25% | -14% | -13% | |
| Peers Max Drawdown | -22% | -28% | -27% | -18% | -13% | -15% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HR, SBRA, NHI, LTC, DOC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/29/2026 (YTD)
How Low Can It Go
| Event | UHT | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -21.0% | -9.5% |
| % Gain to Breakeven | 26.6% | 10.5% |
| Time to Breakeven | 325 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -22.1% | -6.7% |
| % Gain to Breakeven | 28.3% | 7.1% |
| Time to Breakeven | 1153 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -28.1% | -24.5% |
| % Gain to Breakeven | 39.2% | 32.4% |
| Time to Breakeven | 128 days | 427 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -15.5% | -19.2% |
| % Gain to Breakeven | 18.4% | 23.8% |
| Time to Breakeven | 42 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -13.9% | -3.7% |
| % Gain to Breakeven | 16.1% | 3.9% |
| Time to Breakeven | 21 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -13.5% | -12.2% |
| % Gain to Breakeven | 15.6% | 13.9% |
| Time to Breakeven | 41 days | 62 days |
In The Past
Universal Health Realty Income Trust's stock fell -4.1% during the 2025 US Tariff Shock. Such a loss loss requires a 4.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | UHT | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -21.0% | -9.5% |
| % Gain to Breakeven | 26.6% | 10.5% |
| Time to Breakeven | 325 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -22.1% | -6.7% |
| % Gain to Breakeven | 28.3% | 7.1% |
| Time to Breakeven | 1153 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -28.1% | -24.5% |
| % Gain to Breakeven | 39.2% | 32.4% |
| Time to Breakeven | 128 days | 427 days |
| 2013 Taper Tantrum | ||
| % Loss | -25.8% | -0.2% |
| % Gain to Breakeven | 34.8% | 0.2% |
| Time to Breakeven | 435 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -23.3% | -17.9% |
| % Gain to Breakeven | 30.3% | 21.8% |
| Time to Breakeven | 261 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -35.0% | -53.4% |
| % Gain to Breakeven | 53.7% | 114.4% |
| Time to Breakeven | 252 days | 1085 days |
In The Past
Universal Health Realty Income Trust's stock fell -4.1% during the 2025 US Tariff Shock. Such a loss loss requires a 4.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Universal Health Realty Income Trust (UHT)
Universal Health Realty Income Trust (UHT) operates as a real estate investment trust (REIT) specializing in the ownership and investment of properties within the healthcare and human services sectors. As a REIT, UHT primarily generates revenue by leasing these specialized facilities to various operators, effectively serving as a landlord for critical infrastructure in these fields.
The company's diverse portfolio of real estate assets includes acute care hospitals, rehabilitation hospitals, sub-acute care facilities, and free-standing emergency departments, which are vital components of the healthcare system. Additionally, UHT invests in medical/office buildings and childcare centers, catering to a broader spectrum of human service needs. With investments in 71 properties located across 20 U.S. states, including two currently under construction, UHT's primary customers are the operators of these healthcare and human service facilities.
AI Analysis | Feedback
1. Simon Property Group for hospitals and medical buildings.
2. Public Storage for hospitals and doctor's offices.
AI Analysis | Feedback
- Leasing of Acute Care Hospitals: Providing real estate for hospitals specializing in short-term medical treatment for severe injury or illness.
- Leasing of Rehabilitation Hospitals: Offering facilities for patients undergoing recovery and therapy after injury, illness, or surgery.
- Leasing of Sub-Acute Care Facilities: Supplying real estate for facilities offering a bridge of care between acute hospitalization and home.
- Leasing of Medical/Office Buildings: Providing space for various medical practices, clinics, and healthcare-related administrative offices.
- Leasing of Free-Standing Emergency Departments: Offering real estate for emergency care facilities that operate independently of a hospital campus.
- Leasing of Childcare Centers: Supplying facilities for operations providing childcare and early education services.
AI Analysis | Feedback
Universal Health Realty Income Trust (UHT) primarily sells to other companies. Its major customer is:
- Universal Health Services, Inc. (NYSE: UHS)
AI Analysis | Feedback
- Universal Health Services, Inc. (UHS)
AI Analysis | Feedback
```html
Alan B. Miller, Chairman of the Board, Chief Executive Officer, and President
Mr. Miller has served as Chairman of the Board and Chief Executive Officer of Universal Health Realty Income Trust (UHT) since its inception in 1986. He also holds the positions of Founder and Executive Chairman of Universal Health Services, Inc. (UHS), one of the largest providers of hospital and healthcare services nationally. Prior to founding UHS in 1978 and UHT, Mr. Miller established American Medicorp, Inc. in 1969, a pioneering hospital management company where he was Chairman and CEO until a hostile takeover in 1977.
Charles F. Boyle, Senior Vice President and Chief Financial Officer
Mr. Boyle was appointed Chief Financial Officer of Universal Health Realty Income Trust in February 2003 and was promoted to Senior Vice President in June 2022. He has been with the Trust since June 1991, previously serving as Vice President and Controller. Mr. Boyle also holds the titles of Senior Vice President and Controller of Universal Health Services, Inc. (UHS) since 2016, and previously Vice President and Controller of UHS since 2003.
Cheryl K. Ramagano, Senior Vice President - Operations, Treasurer and Secretary
Ms. Ramagano was promoted to Senior Vice President - Operations in June 2022. She was elected Vice President and Treasurer of the Trust in September 1992 and appointed Corporate Secretary in 2003. Ms. Ramagano has also served as Senior Vice President and Treasurer of Universal Health Services, Inc. (UHS) since 2016, and previously Vice President and Treasurer of UHS since 2003.
Karla J. Peterson, Vice President, Acquisitions and Development
Ms. Peterson was elected Vice President, Acquisitions and Development of the Trust in August 2022.
Jamie R. Krahne, Vice President, Asset Management
Ms. Krahne was appointed Vice President, Asset Management of UHT in August 2025. She brings over 25 years of experience in healthcare real estate, property management, leasing, and construction management. Prior to UHT, she served as a Partner and Principal-Healthcare at Dickson Commercial Group.
```AI Analysis | Feedback
Key Business Risks for Universal Health Realty Income Trust (UHT)
- State-Level Regulatory Friction and Healthcare Policy Changes: Universal Health Realty Income Trust faces significant risks from increasing state-level scrutiny of healthcare Real Estate Investment Trusts (REITs) and evolving healthcare regulations. For instance, some states have implemented moratoriums on REITs owning or managing hospitals, directly impacting UHT's acquisition strategy for certain large assets. Additionally, states may require disclosure of REIT investments in healthcare provider organizations. Such regulatory changes at the state level can complicate UHT's growth story, restrict acquisitions, and affect tenant operations.
- Significant Revenue Concentration and Reliance on Universal Health Services (UHS): A substantial portion of UHT's revenue, approximately 40%, is derived from Universal Health Services (UHS). This creates a concentration risk, as any adverse developments or operational challenges faced by UHS could negatively impact UHT's revenue stream and overall financial performance. Furthermore, UHT's officers are employees of UHS, indicating a close operational relationship.
- Exposure to Interest Rate Fluctuations and Leverage: UHT is vulnerable to high leverage and rising interest costs, which can significantly impact its financial performance. The company has experienced weaker Funds From Operations (FFO) due to higher interest expenses, and there are concerns regarding interest coverage. Future acquisition financing costs are also sensitive to interest rate movements, with slower-than-expected Federal Reserve rate cuts posing a risk.
AI Analysis | Feedback
null
AI Analysis | Feedback
Universal Health Realty Income Trust (UHT) invests in a variety of healthcare and human service-related facilities. The addressable markets for their main products or services in the U.S. are as follows:
- Acute Care Hospitals: The U.S. acute hospital care market size was valued at USD 1,480.9 billion in 2021 and is projected to reach USD 2,635.6 billion by 2030, with a compound annual growth rate (CAGR) of 6.6% from 2022 to 2030. Other estimates indicate the market was USD 1.27 trillion in 2024 and is projected to reach USD 2.43 trillion by 2034.
- Rehabilitation Hospitals (part of Medical Rehabilitation Services): The U.S. medical rehabilitation services market generated approximately USD 97.25 billion in revenue in 2024 and is expected to reach approximately USD 137.1 billion by 2030, growing at a CAGR of 5.9% from 2025 to 2030. North America, where the U.S. holds the largest share, accounted for 43% of the global medical rehabilitation market in 2024.
- Sub-acute Care Facilities (part of Post-Acute Care Market): The U.S. post-acute care market was valued at USD 469.8 billion in 2024 and is expected to reach USD 898.5 billion by 2035, growing at a CAGR of 6.4% from 2026 to 2035. Another report estimates the U.S. post-acute care market size at USD 461.38 billion in 2025, projected to reach approximately USD 766.71 billion by 2035.
- Medical/Office Buildings: The U.S. medical office buildings market generated approximately USD 14.08 billion in revenue in 2023 and is expected to reach approximately USD 22.04 billion by 2030, growing at a CAGR of 6.6% from 2024 to 2030.
- Free-Standing Emergency Departments: The U.S. freestanding emergency department market size was estimated at USD 16.55 billion in 2024 and is projected to grow at a CAGR of 5.9% from 2025 to 2030, reaching USD 23.35 billion by 2030.
- Childcare Centers: The U.S. child care market size was estimated at USD 65.15 billion in 2024 and is expected to reach USD 109.88 billion by 2033, growing at a CAGR of 6.02% from 2025 to 2033. Other estimates for the U.S. day care market indicate a value of USD 68.62 billion in 2023, projected to reach USD 116.45 billion by 2030.
AI Analysis | Feedback
Universal Health Realty Income Trust (UHT) is expected to drive future revenue growth over the next 2-3 years through several key strategies:
- Continued Portfolio Expansion and Development: UHT is actively investing in new healthcare and human service-related facilities. An example of this is the commencement of construction on Palm Beach Gardens Medical Plaza I, an 80,000 square foot medical office building, representing a significant capital commitment for future rental income. The company reported having investments or commitments in seventy-six properties across twenty-one states as of July 2024, indicating ongoing growth through property additions.
- Increases in Lease Revenue from Existing Properties: A primary driver of revenue for UHT stems from its existing property portfolio. Growth is anticipated through increases in lease rates and maintaining or improving occupancy across its diverse range of facilities, including acute care hospitals, medical office buildings, and rehabilitation hospitals. Lease revenues from non-related parties increased by 3.0% in the third quarter of 2025 and 4.8% in 2024, while lease revenues from Universal Health Services (UHS) facilities grew by 3.1% in 2024.
- Bonus Rental Income and Lease Escalators: UHT benefits from contractual agreements within its existing leases, which include provisions for bonus rental income and other escalators. For instance, bonus rental income from the McAllen Medical Center facility saw a significant increase of 16.9% in the third quarter of 2025, demonstrating the impact of these contractual terms on revenue growth.
- Favorable Healthcare Demographic Trends: The sustained demand for healthcare services, driven by an aging U.S. population, provides a foundational driver for UHT's revenue growth. This demographic trend supports stable occupancy rates and consistent demand for the specialized healthcare properties in which the trust invests, ensuring a steady long-term revenue stream.
- Optimized Capital Structure and Reduced Interest Expenses: While not a direct revenue generator, strategic financial management, such as optimizing the capital structure and reducing interest expenses, indirectly contributes to revenue growth by freeing up capital for reinvestment. A 5.5% decrease in interest expenses was observed in the fourth quarter of 2025, allowing for more capital to be allocated towards acquisitions or property enhancements, which in turn can lead to increased rental income.
AI Analysis | Feedback
Capital Allocation Decisions for Universal Health Realty Income Trust (UHT)
Share Issuance
- Universal Health Realty Income Trust has engaged in minor share issuances over the last five years, with net common stock issuances (or very small repurchases) ranging from approximately -$0.13 million to $0.22 million annually between 2021 and 2025.
- The number of shares outstanding remained relatively stable, experiencing a slight increase from 13.76 million in 2021 to 13.82 million in 2025.
Outbound Investments
- The company's outbound investments, primarily consisting of property acquisitions and development, were approximately $6.12 million in 2025, $4.8 million in 2024, $7.42 million in 2023, $14.19 million in 2022, and $38.42 million in 2021, as reflected in "Other Investing Activities".
- Universal Health Realty Income Trust maintains a robust pipeline of investment opportunities, including both property acquisitions and de novo development projects.
Capital Expenditures
- Capital expenditures for Universal Health Realty Income Trust amounted to approximately $8.84 million in 2025, $9.07 million in 2024, $15.58 million in 2023, $22.49 million in 2022, and $14.12 million in 2021.
- These capital expenditures are primarily focused on investing in and developing healthcare and human service-related facilities, such as acute care hospitals, medical/office buildings, free-standing emergency departments, and childcare centers.
- A specific project example includes the Sierra Medical Plaza I, an 86,000 square foot medical office building in Reno, Nevada, which was substantially completed in March 2023.
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 32.08 |
| Mkt Cap | 4.7 |
| Rev LTM | 607 |
| Op Inc LTM | 165 |
| FCF LTM | 192 |
| FCF 3Y Avg | 213 |
| CFO LTM | 305 |
| CFO 3Y Avg | 273 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 7.8% |
| Rev Chg 3Y Avg | 10.4% |
| Rev Chg Q | 14.0% |
| QoQ Delta Rev Chg LTM | 3.4% |
| Op Inc Chg LTM | 3.8% |
| Op Inc Chg 3Y Avg | 10.5% |
| Op Mgn LTM | 33.8% |
| Op Mgn 3Y Avg | 35.1% |
| QoQ Delta Op Mgn LTM | -1.3% |
| CFO/Rev LTM | 44.7% |
| CFO/Rev 3Y Avg | 46.5% |
| FCF/Rev LTM | 44.7% |
| FCF/Rev 3Y Avg | 46.5% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Investing in and leasing healthcare and human service facilities through direct ownership or through | 99 | 99 | 96 | ||
| Interest income on financing leases - Universal Health Services, Inc. (UHS) facilities | 5 | ||||
| Lease revenue - Universal Health Services, Inc. (UHS) facilities | 30 | 30 | |||
| Lease revenue- Non-related parties | 52 | 52 | |||
| Other revenue - Non-related parties | 2 | 1 | |||
| Other revenue - Universal Health Services, Inc. (UHS) facilities | 1 | 1 | |||
| Total | 99 | 99 | 96 | 91 | 84 |
| $ Mil | 2025 | 2024 |
|---|---|---|
| Investing in and leasing healthcare and human service facilities through direct ownership or through | 18 | 19 |
| Total | 18 | 19 |
Price Behavior
Price Behavior
| Market Price | $44.69 | |
| Market Cap ($ Bil) | 0.6 | |
| First Trading Date | 11/05/1987 | |
| Distance from 52W High | -2.5% | |
| 50 Days | 200 Days | |
| DMA Price | $41.72 | $39.66 |
| DMA Trend | up | up |
| Distance from DMA | 7.1% | 12.7% |
| 3M | 1YR | |
| Volatility | 28.3% | 23.7% |
| Downside Capture | -82.40 | -22.97 |
| Upside Capture | -18.21 | 2.64 |
| Correlation (SPY) | -11.5% | 1.2% |
UHT Betas & Captures as of 6/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.39 | -0.16 | 0.02 | 0.10 | 0.07 | 0.40 |
| Up Beta | 1.37 | 1.16 | 0.54 | 0.32 | 0.43 | 0.45 |
| Down Beta | 0.19 | -0.13 | -0.31 | 0.12 | -0.07 | 0.28 |
| Up Capture | -62% | -12% | 9% | 16% | 7% | 14% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 12 | 21 | 34 | 67 | 138 | 387 |
| Down Capture | -153% | -106% | -58% | -19% | -16% | 70% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 9 | 20 | 29 | 57 | 111 | 357 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with UHT | |
|---|---|---|---|---|
| UHT | 17.7% | 23.7% | 0.63 | - |
| Sector ETF (XLRE) | 12.1% | 14.2% | 0.58 | 47.8% |
| Equity (SPY) | 15.6% | 12.8% | 0.86 | 1.7% |
| Gold (GLD) | 21.6% | 28.1% | 0.68 | -6.9% |
| Commodities (DBC) | 31.5% | 19.7% | 1.27 | -32.1% |
| Real Estate (VNQ) | 15.9% | 14.0% | 0.82 | 52.3% |
| Bitcoin (BTCUSD) | -46.1% | 42.9% | -1.32 | -10.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with UHT | |
|---|---|---|---|---|
| UHT | 0.1% | 24.1% | -0.03 | - |
| Sector ETF (XLRE) | 3.1% | 19.1% | 0.06 | 60.0% |
| Equity (SPY) | 12.4% | 17.1% | 0.55 | 33.5% |
| Gold (GLD) | 17.1% | 18.4% | 0.75 | 7.3% |
| Commodities (DBC) | 9.3% | 19.5% | 0.36 | 3.8% |
| Real Estate (VNQ) | 2.9% | 18.9% | 0.05 | 63.2% |
| Bitcoin (BTCUSD) | 14.7% | 53.3% | 0.46 | 12.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with UHT | |
|---|---|---|---|---|
| UHT | 2.3% | 33.6% | 0.15 | - |
| Sector ETF (XLRE) | 6.5% | 20.4% | 0.27 | 67.7% |
| Equity (SPY) | 14.7% | 17.9% | 0.70 | 50.0% |
| Gold (GLD) | 11.3% | 16.1% | 0.57 | 6.2% |
| Commodities (DBC) | 7.1% | 18.0% | 0.32 | 17.2% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 72.6% |
| Bitcoin (BTCUSD) | 57.7% | 66.2% | 0.98 | 12.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 7/30/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/27/2026 | 2.1% | ||
| 4/27/2026 | -0.1% | -2.4% | 3.0% |
| 2/25/2026 | 0.2% | -0.8% | -7.0% |
| 10/27/2025 | 2.1% | 4.9% | 12.5% |
| 7/28/2025 | -1.9% | -4.2% | -1.3% |
| 4/28/2025 | -0.5% | 0.3% | 0.6% |
| 2/26/2025 | 0.8% | 4.0% | 3.4% |
| 10/24/2024 | -2.2% | -4.1% | -1.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 12 | 13 |
| # Negative | 15 | 12 | 11 |
| Median Positive | 0.8% | 3.0% | 3.5% |
| Median Negative | -1.6% | -4.0% | -3.6% |
| Max Positive | 3.2% | 6.3% | 13.2% |
| Max Negative | -5.5% | -12.9% | -10.9% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/27/2026 | 2.1% | ||
| 4/27/2026 | -0.1% | -2.4% | 3.0% |
| 2/25/2026 | 0.2% | -0.8% | -7.0% |
| 10/27/2025 | 2.1% | 4.9% | 12.5% |
| 7/28/2025 | -1.9% | -4.2% | -1.3% |
| 4/28/2025 | -0.5% | 0.3% | 0.6% |
| 2/26/2025 | 0.8% | 4.0% | 3.4% |
| 10/24/2024 | -2.2% | -4.1% | -1.5% |
| 7/24/2024 | 3.2% | 2.1% | 3.5% |
| 4/24/2024 | 0.4% | 5.3% | 8.2% |
| 2/27/2024 | -2.9% | -7.8% | -10.9% |
| 10/25/2023 | -0.4% | 0.7% | 1.8% |
| 7/25/2023 | -1.6% | -1.5% | -3.0% |
| 4/25/2023 | -5.5% | -7.8% | -5.8% |
| 2/27/2023 | -0.5% | -6.1% | -10.9% |
| 10/25/2022 | 1.8% | 5.1% | 11.8% |
| 7/25/2022 | 0.7% | 1.8% | -1.7% |
| 4/25/2022 | -3.0% | -12.9% | -9.2% |
| 2/24/2022 | 0.8% | 6.3% | 4.2% |
| 10/25/2021 | -0.1% | 1.5% | 1.5% |
| 7/26/2021 | -1.0% | -3.8% | -3.6% |
| 4/26/2021 | -1.1% | -2.3% | -2.3% |
| 2/25/2021 | -2.2% | 1.3% | 13.2% |
| 10/29/2020 | -4.1% | -2.3% | 8.4% |
| 7/27/2020 | 0.3% | 4.2% | 0.7% |
| SUMMARY STATS | |||
| # Positive | 10 | 12 | 13 |
| # Negative | 15 | 12 | 11 |
| Median Positive | 0.8% | 3.0% | 3.5% |
| Median Negative | -1.6% | -4.0% | -3.6% |
| Max Positive | 3.2% | 6.3% | 13.2% |
| Max Negative | -5.5% | -12.9% | -10.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| 03/31/2022 | 05/06/2022 | 10-Q |
| 12/31/2021 | 02/24/2022 | 10-K |
| 09/30/2021 | 11/08/2021 | 10-Q |
| 06/30/2021 | 08/06/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 02/25/2021 | 10-K |
| 09/30/2020 | 11/06/2020 | 10-Q |
| 06/30/2020 | 08/10/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 02/26/2020 | 10-K |
| 09/30/2019 | 11/08/2019 | 10-Q |
| 06/30/2019 | 08/08/2019 | 10-Q |
Recent Forward Guidance
Updated 7/28/2026Latest: Q2 2026 Earnings Reported 7/27/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Miller Medical Plaza Construction Cost | 34.00 Mil | 0 | Affirmed | Guidance: 34.00 Mil for 2026 | |||
Prior: Q1 2026 Earnings Reported 4/27/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Miller Medical Plaza Construction Cost | 34.00 Mil | ||||||
Q4 2025 Earnings Reported 2/25/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Palm Beach Gardens Medical Plaza I Construction Cost | 34.00 Mil | 0 | Affirmed | Guidance: 34.00 Mil for 2025 | |||
Insider Activity
Updated 6/11/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Miller, Alan B | President, and CEO | Direct | Buy | 10302025 | 37.02 | 12,247 | 453,405 | 6,741,800 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Miller, Alan B | President, and CEO | Direct | Buy | 10302025 | 37.02 | 12,247 | 453,405 | 6,741,800 | Form |
Industry Resources
| Real Estate Resources |
| The Real Deal |
| Commercial Observer |
| Inman |
| Health Care REITs Resources |
| Healthcare Real Estate Insights |
| Seniors Housing Business |
| RevistaMed |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.
Core Cache Last Updated: 7/29/2026