KING OF PRUSSIA, PA — Universal Health Realty Income Trust (NYSE: UHT) reported first-quarter 2026 net income of $5.0 million, or $0.36 per diluted share, up from $4.8 million, or $0.34 per share, in the prior-year period, reflecting lower interest expense and higher property income.
The increase in net income was driven by a $217,000 reduction in interest expense due to a lower average borrowing rate and a $25,000 rise in income from properties.
Funds from operations totaled $12.3 million, or $0.88 per diluted share, compared with $11.9 million, or $0.86 per share, in the first quarter of 2025, primarily due to higher net income and increased depreciation and amortization.
The trust declared a quarterly dividend of $0.745 per share, totaling $10.3 million, which was paid March 31, 2026.
In April, the company amended its credit agreement to increase borrowing capacity to $475 million from $425 million, with a maturity date of September 30, 2028, and options for two six-month extensions.
As of March 31, 2026, borrowings under the credit agreement totaled $359.5 million.
Separately, the trust is developing the Miller Medical Plaza, an 80,000-square-foot medical office building in Palm Beach Gardens, Florida, on the campus of the Alan B. Miller Medical Center.
Construction began in February 2026 and is expected to be completed in the fourth quarter, with an estimated cost of about $34 million.
A subsidiary of Universal Health Services has signed a 10-year master lease for approximately 75% of the building’s rentable space, subject to adjustments based on third-party leasing activity.
Universal Health Realty Income Trust invests in healthcare and human-service facilities, with interests in 77 properties across 21 states.
Support the local news that supports Chester County. MyChesCo delivers reliable, fact-based reporting and essential community resources—free for everyone. If you value that, click here to become a patron today.