Universal Health Realty Income Trust filings document the regulatory record for a healthcare REIT, including operating results, material agreements, proxy governance, executive compensation disclosure, and capital-structure matters. Current reports have furnished quarterly earnings releases and described credit agreement amendments, including term loan facilities, SOFR-based interest provisions, leverage-related margin terms, guarantor arrangements, and covenant changes.
Proxy materials cover shareholder voting and governance matters for the Trust, including trustee oversight and compensation-related disclosures. The filing record also documents the Trust's Maryland issuer status and the formal exhibits associated with material event reports.
Universal Health Realty Income Trust reported stable first-quarter 2026 results. Total revenue was $24.5 million for the three months ended March 31, 2026, essentially unchanged from $24.5 million a year earlier. Net income rose to $5.0 million from $4.8 million, helped mainly by lower interest expense.
Diluted earnings per share increased to $0.36 from $0.34, and funds from operations, a key REIT metric, grew to $12.3 million, or $0.88 per diluted share, from $11.9 million, or $0.86 per share. The Trust paid dividends of $0.745 per share, totaling about $10.3 million.
At March 31, 2026, total assets were $563.8 million and equity was $147.8 million, with $359.5 million outstanding on the credit facility and $18.3 million in non‑recourse mortgage debt. Properties related to Universal Health Services, Inc. generated approximately 41% of consolidated revenues, underscoring the importance of this tenant and advisory relationship.
Universal Health Realty Income Trust ownership filing shows Vanguard Portfolio Management reports beneficial ownership of 968,178 shares, equal to 6.97% of the company's common stock as reported for the period ending 03/31/2026. The filing states Vanguard has sole dispositive power over 968,178 shares and sole voting power for 10,392 shares. The disclosure notes these holdings represent securities managed across Vanguard Portfolio Management LLC and affiliated investment vehicles.
Universal Health Realty Income Trust is soliciting proxies for its 2026 virtual-only annual meeting on June 10, 2026. Shareholders will vote on electing two Class I Trustees to terms ending in 2029, an advisory say-on-pay resolution, and ratifying KPMG LLP as independent registered public accountants for the year ending December 31, 2026.
Holders of 13,875,566 shares of beneficial interest outstanding as of April 13, 2026 are entitled to one vote per share and may vote online, by telephone or by mail. The Board recommends voting FOR all three proposals.
The proxy describes a management-fee structure under which an advisory fee of $5.6 million was paid in 2025, with an estimated $1.85 million effectively attributable to named executive officer compensation, largely via performance-based restricted stock whose 2025 grant-date value was about $585,000. Say-on-pay support reached 95% in 2024, 94% in 2023 and 93% in 2022.
Security ownership data show BlackRock and The Vanguard Group affiliates each above 10% beneficial ownership, and all Trustees and executive officers as a group holding 362,486 shares, or 2.61% of outstanding shares.
Universal Health Realty Income Trust reported higher earnings for the first quarter of 2026. Net income rose to $5.0 million, or $0.36 per diluted share, up from $4.8 million, or $0.34 per diluted share, a year earlier. Total revenues were essentially flat at about $24.5 million.
Funds from operations, a key REIT performance metric, increased to $12.3 million, or $0.88 per diluted share, compared with $11.9 million, or $0.86 per diluted share, helped by lower interest expense and slightly stronger property income. The Trust paid a first quarter dividend of $0.745 per share, totaling about $10.3 million.
The Trust amended its credit agreement in April 2026, expanding borrowing capacity to $475 million with $359.5 million outstanding as of March 31, 2026. It is also developing the Miller Medical Plaza, an 80,000 square foot medical office building in Florida with an estimated cost of $34 million and a 10-year master flex lease covering about 75% of rentable space.
Universal Health Realty Income Trust entered into a First Amendment to its Second Amended and Restated Credit Agreement. The amendment adds a new incremental term loan facility of $50 million, adjusts a key net worth covenant, and updates interest rate mechanics tied to SOFR.
The minimum tangible net worth requirement is now $100 million. The 2026 Incremental Term Loan will bear interest at either SOFR (for one, three, or six months) or the Base Rate, plus a margin based on the Trust’s Total Leverage Ratio. The new term loan will mature on September 30, 2028, matching the existing term loan’s maturity, and a new subsidiary of the Trust has been added as a guarantor.
Universal Health Realty Income Trust — The Vanguard Group filed Amendment No. 21 to its Schedule 13G/A reporting 0 shares beneficially owned, representing 0% of the class. The filing states that, following an internal realignment on 01/12/2026, certain Vanguard subsidiaries now report separately in reliance on SEC Release No. 34-39538. The form is signed by Ashley Grim, Head of Global Fund Administration, dated 03/27/2026.
Universal Health Realty Income Trust reported lower earnings but essentially flat cash-based performance for 2025. For the fourth quarter, net income was $4.3 million, or $0.31 per diluted share, down from $4.7 million or $0.34 a year earlier, mainly due to weaker property-level income, partly offset by lower interest expense.
Full-year 2025 net income was $17.6 million, or $1.27 per diluted share, compared with $19.2 million and $1.39 in 2024. However, funds from operations, which add back depreciation, were stable at $47.7 million or $3.44 per share versus $47.9 million or $3.46. The Trust paid a fourth-quarter dividend of $0.745 per share and $2.960 per share for the year.
As of December 31, 2025, the Trust had $356.2 million outstanding under a $425 million credit agreement, leaving $68.8 million of borrowing capacity. It also began developing an approximately 80,000 square foot medical office building in Palm Beach Gardens, Florida, with an estimated cost of $34 million and a 10-year master lease covering about 75% of the space.
Universal Health Realty Income Trust is a healthcare-focused REIT investing in acute care and behavioral hospitals, medical office buildings, free‑standing emergency departments and childcare centers. As of late February 2026, it holds 77 real estate investments or commitments in 21 states, including six hospital facilities, 61 medical office buildings, four FEDs, four preschool centers, one specialty facility and vacant land.
The trust is closely tied to Universal Health Services, Inc. (UHS). Subsidiaries of UHS lease all six hospital facilities and are tenants in 19 additional properties, with UHS‑related tenants generating about 40% of consolidated revenue over 2023–2025. A wholly owned UHS subsidiary also serves as Advisor under a renewable agreement, earning a 0.70% fee on average invested real estate assets.
The hospital leases typically include long remaining terms, fixed or inflation‑linked rent escalators, and extensive renewal and purchase options. The combined weighted average EBITDAR coverage ratio at the six UHS hospital facilities was about 8.6x in 2025, indicating strong rent coverage overall but with a wide range by facility. The trust also has several development projects, including the Palm Beach Gardens Medical Plaza I MOB and the Sierra Medical Plaza I MOB, both supported by long‑term UHS master flex leases and ground leases.
Management emphasizes REIT tax status and regular dividend distributions, while highlighting risks tied to government healthcare reimbursement (Medicare and Medicaid), evolving U.S. healthcare legislation, competitive pressures from other providers and facilities, UHS’s financial and legal exposures, and tenant decisions on lease renewals or purchase options. The trust also outlines ongoing ESG initiatives, including energy‑efficient building upgrades, LED lighting, HVAC modernization, water‑saving landscaping and LEED‑inspired design in newer properties.
BlackRock, Inc. reports beneficial ownership of 1,989,533 common shares of Universal Health Realty Income Trust, equal to 14.3% of this share class as of 12/31/2025. BlackRock has sole voting power over 1,972,906 of these shares and sole dispositive power over 1,989,533 shares, with no shared voting or dispositive power.
The holdings reflect securities beneficially owned by specific BlackRock business units, not all BlackRock affiliates. One underlying holder, iShares Core S&P Small-Cap ETF, on its own holds more than five percent of Universal Health Realty’s outstanding common stock. BlackRock states the position is held in the ordinary course of business and not for the purpose of changing or influencing control of the company.