UHT on NYSE
UNIVERSAL HEALTH REALTY INCOME TRUST
American real estate investment trust based in Baltimore, listed on NYSE (UHT). Summary from the record
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Last updated Oct 19, 2026.
Overview
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- TickerUHT on NYSE2
- IndustryReal Estate Investment Trusts2
- HeadquartersBaltimore, United States2
- Incorporated inMD3
- Business addressUniversal Corporate Ctr, 367 S Gulph Rd, King Of Prussia, Pa 194063
- Filer categoryNon-accelerated filer, Smaller reporting company3
- Legal formTRUST2
- Kind of organizationTrust2
- LEI549300L4MWZL4IH6H1722
- StatusActive2
- LEI statusLapsed (not renewed)2
- Registered addressC/O The Corporation Trust Incorporated, 21201 Baltimore, United States2
- Registered withBusiness Services (Maryland Department of Assessments and Taxation), D000482
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As disclosed in this Annual Report, including in Part I, Item 1.-Relationship with Universal Health Services, Inc. (“UHS”), a wholly-owned subsidiary of UHS (UHS of Delaware, Inc.) serves as our Advisor pursuant to the terms of an annually renewable Advisory Agreement dated December 24, 1986, and as amended and restated as of January 1, 2019. The advisory agreement expires on December 31 of each year; however, it is renewable by us, subject to a determination by our Trustees who are unaffiliated with UHS, that the Advisor’s performance has been satisfactory. The Advisory Agreement was renewed for 2026 with the same terms as the Advisory Agreement in place during 2025, 2024 and 2023. Our officers are all employees of UHS through its wholly-owned subsidiary, UHS of Delaware, Inc. In addition, five of our hospital facilities are leased to wholly-owned subsidiaries of UHS, one of our hospita…4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs82¢$81.6M
- Profit18¢$17.6M
Out of $99.2M in revenue.5
Where each dollar of operating cash went, fiscal 2025
- Dividends paid84¢$41.0M
- Kept or used elsewhere16¢$8.1M
Out of $49.1M of cash from operations.5
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenues, Total | $99.2M | $99.0M | $95.6M |
| Depreciation and amortization | $28.9M | $27.4M | $27.7M |
| Other operating expenses | $30.0M | $29.3M | $31.2M |
| Costs and Expenses, Total | $64.4M | $62.2M | $64.2M |
| "Income before equity in income of unconsolidated limited liability companies (""LLCs""), loss on divestiture and interest expense" | $34.8M | $36.8M | $31.3M |
| Equity in income of unconsolidated LLCs | $1.7M | $1.3M | $1.2M |
| Loss on divestiture of real estate assets | -$232.0K | ||
| Interest expense, net | -$18.9M | -$18.8M | -$16.9M |
| Net income | $17.6M | $19.2M | $15.4M |
| Basic earnings per share | $1.27 | $1.39 | $1.12 |
| Diluted earnings per share | $1.27 | $1.39 | $1.11 |
| Weighted average number of shares outstanding - Basic | 13.8M shares | 13.8M shares | 13.8M shares |
| Weighted average number of share equivalents | 43.0K shares | 37.0K shares | 28.0K shares |
| Weighted average number of shares and equivalents outstanding - Diluted | 13.9M shares | 13.8M shares | 13.8M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 2 fiscal years (annual) or 2 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Buildings and improvements and construction in progress | $666.1M | $656.0M |
| Accumulated depreciation | -$313.0M | -$286.9M |
| Real Estate Investment Property, Net, Total | $353.1M | $369.1M |
| Land | $56.9M | $56.9M |
| Net Real Estate Investments | $410.0M | $425.9M |
| Financing receivable from UHS | $82.1M | $82.8M |
| Net Real Estate Investments and Financing receivable | $492.2M | $508.7M |
| "Investments in and advances to limited liability companies (""LLCs"")" | $20.1M | $13.9M |
| Cash and cash equivalents | $6.7M | $7.1M |
| Lease and other receivables from UHS | $7.5M | $7.1M |
| Lease receivable - other | $8.0M | $8.0M |
| Intangible assets (net of accumulated amortization of $10.9 million and $11.3 million, respectively) | $5.6M | $7.3M |
| Right-of-use land assets, net | $11.4M | $10.9M |
| Deferred charges, notes receivable and other assets, net | $13.3M | $17.7M |
| Total Assets | $564.9M | $580.9M |
| Line of credit borrowings | $356.2M | $348.9M |
| Mortgage notes payable, non-recourse to us, net | $18.4M | $19.3M |
| Accrued interest | $910.0K | $694.0K |
| Accrued expenses and other liabilities | $13.8M | $10.4M |
| Ground lease liabilities, net | $11.4M | $10.9M |
| Tenant reserves, deposits and deferred and prepaid rents | $11.8M | $11.0M |
| Total Liabilities | $412.5M | $401.3M |
| Common shares, $.01 par value; 95,000,000 shares authorized; issued and outstanding: 2025 - 13,874,607; 2024 - 13,850,608 | $139.0K | $138.0K |
| Capital in excess of par value | $272.1M | $271.1M |
| Cumulative net income and other | $862.9M | $845.3M |
| Cumulative dividends | -$984.4M | -$943.4M |
| Accumulated other comprehensive income | $1.6M | $6.4M |
| Total Equity | $152.4M | $179.5M |
| Total Liabilities and Equity | $564.9M | $580.9M |
| Intangible assets, accumulated amortization | $10.9M | $11.3M |
| Preferred shares of beneficial interest, par value | $0.01 | $0.01 |
| Preferred shares of beneficial interest, shares authorized | 5.0M shares | 5.0M shares |
| Preferred shares of beneficial interest, issued | 0 shares | 0 shares |
| Preferred shares of beneficial interest, outstanding | 0 shares | 0 shares |
| Common shares, par value | $0.01 | $0.01 |
| Common shares, shares authorized | 95.0M shares | 95.0M shares |
| Common shares, issued | 13.9M shares | 13.9M shares |
| Common shares, outstanding | 13.9M shares | 13.9M shares |
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Buildings and improvements and construction in progress | $666.1M | $656.0M |
| Accumulated depreciation | -$313.0M | -$286.9M |
| Real Estate Investment Property, Net, Total | $353.1M | $369.1M |
| Land | $56.9M | $56.9M |
| Net Real Estate Investments | $410.0M | $425.9M |
| Financing receivable from UHS | $82.1M | $82.8M |
| Net Real Estate Investments and Financing receivable | $492.2M | $508.7M |
| "Investments in and advances to limited liability companies (""LLCs"")" | $20.1M | $13.9M |
| Cash and cash equivalents | $6.7M | $7.1M |
| Lease and other receivables from UHS | $7.5M | $7.1M |
| Lease receivable - other | $8.0M | $8.0M |
| Intangible assets (net of accumulated amortization of $10.9 million and $11.3 million, respectively) | $5.6M | $7.3M |
| Right-of-use land assets, net | $11.4M | $10.9M |
| Deferred charges, notes receivable and other assets, net | $13.3M | $17.7M |
| Total Assets | $564.9M | $580.9M |
| Line of credit borrowings | $356.2M | $348.9M |
| Mortgage notes payable, non-recourse to us, net | $18.4M | $19.3M |
| Accrued interest | $910.0K | $694.0K |
| Accrued expenses and other liabilities | $13.8M | $10.4M |
| Ground lease liabilities, net | $11.4M | $10.9M |
| Tenant reserves, deposits and deferred and prepaid rents | $11.8M | $11.0M |
| Total Liabilities | $412.5M | $401.3M |
| Common shares, $.01 par value; 95,000,000 shares authorized; issued and outstanding: 2025 - 13,874,607; 2024 - 13,850,608 | $139.0K | $138.0K |
| Capital in excess of par value | $272.1M | $271.1M |
| Cumulative net income and other | $862.9M | $845.3M |
| Cumulative dividends | -$984.4M | -$943.4M |
| Accumulated other comprehensive income | $1.6M | $6.4M |
| Total Equity | $152.4M | $179.5M |
| Total Liabilities and Equity | $564.9M | $580.9M |
| Intangible assets, accumulated amortization | $10.9M | $11.3M |
| Preferred shares of beneficial interest, par value | $0.01 | $0.01 |
| Preferred shares of beneficial interest, shares authorized | 5.0M shares | 5.0M shares |
| Preferred shares of beneficial interest, issued | 0 shares | 0 shares |
| Preferred shares of beneficial interest, outstanding | 0 shares | 0 shares |
| Common shares, par value | $0.01 | $0.01 |
| Common shares, shares authorized | 95.0M shares | 95.0M shares |
| Common shares, issued | 13.9M shares | 13.9M shares |
| Common shares, outstanding | 13.9M shares | 13.9M shares |
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $17.6M | $19.2M | $15.4M |
| Depreciation and amortization | $28.9M | $27.4M | $27.7M |
| Amortization related to above/below market leases, net | -$169.0K | -$176.0K | -$143.0K |
| Amortization of debt premium | -$40.0K | ||
| Amortization of deferred financing costs | $762.0K | $765.0K | $729.0K |
| Stock-based compensation expense | $936.0K | $853.0K | $780.0K |
| Loss on divestiture of real estate assets | $232.0K | ||
| Lease receivables | -$458.0K | -$760.0K | -$513.0K |
| Accrued expenses and other liabilities | $2.1M | -$309.0K | -$316.0K |
| Tenant reserves, deposits and deferred and prepaid rents | $779.0K | -$20.0K | -$516.0K |
| Accrued interest | $216.0K | $204.0K | $117.0K |
| Leasing costs paid | -$1.9M | -$1.3M | -$1.8M |
| Other, net | $348.0K | $967.0K | $1.2M |
| Net cash provided by operating activities | $49.1M | $46.9M | $42.9M |
| Investments in LLCs | -$6.8M | -$5.9M | -$4.1M |
| Cash distributions from LLCs | $683.0K | $1.1M | $757.0K |
| Advance received from LLC, net | $3.5M | ||
| Additions to real estate investments, net | -$8.8M | -$9.1M | -$15.6M |
| Cash paid for acquisition of properties | -$7.6M | ||
| Cash proceeds received from divestiture of properties, net | $3.9M | ||
| Net cash used in investing activities | -$15.0M | -$13.9M | -$19.1M |
| Net borrowings on line of credit | $7.3M | $22.3M | $28.5M |
| Repayments of mortgage notes payable | -$940.0K | -$13.6M | -$11.9M |
| Financing costs paid | -$35.0K | -$2.4M | -$222.0K |
| Dividends paid | -$41.0M | -$40.4M | -$39.8M |
| Issuance of shares of beneficial interest, net | $156.0K | -$131.0K | $147.0K |
| Net cash used in financing activities | -$34.5M | -$34.1M | -$23.2M |
| (Decrease)/increase in cash and cash equivalents | -$411.0K | -$1.1M | $598.0K |
| Interest paid | $17.9M | $17.9M | $16.3M |
| Invoices accrued for construction and improvements | $1.8M | $522.0K | $2.9M |
No quarter-by-quarter statement was filed.
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Leadership
Who has led UNIVERSAL HEALTH REALTY INCOME TRUST, and when. Pick a name to see everywhere that person has worked.
Chief financial officer
- Chief financial officerCharles F. Boyle Mar 2, 2007 to now14
Board members and other officers (8)
- VP, Treasurer & SecretaryCheryl K. Ramagano Mar 2, 2007 to now15
- Vice PresidentTimothy J. Fowler Mar 15, 2006 to Jun 3, 202116
- Board memberRebecca A. Guzman Nov 30, 2022 to now17
- Board memberMarc D. Miller Jun 13, 2019 to now18
- Board memberRobert F. McCadden Jun 13, 2019 to now19
- Board memberGayle L. Capozzalo Mar 14, 2018 to now20
- Board memberJames P. Morey Jul 23, 2018 to now21
- Board memberMichael Allan Domb Dec 11, 2017 to now22
Filings
156 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 30 major events, 63 insider forms, 19 large holders, 24 other. The latest 20:
- Aug 7, 202610-Q EDGAR
- Jul 27, 20268-K EDGAR
- Jul 8, 2026SCHEDULE 13G/A EDGAR
- Jun 11, 20268-K EDGAR
- Jun 11, 20264 PRIMARY DOCUMENT EDGAR
- Jun 11, 20264 PRIMARY DOCUMENT EDGAR
- Jun 11, 20264 PRIMARY DOCUMENT EDGAR
- Jun 11, 20264 PRIMARY DOCUMENT EDGAR
- Jun 11, 20264 PRIMARY DOCUMENT EDGAR
- Jun 11, 20264 PRIMARY DOCUMENT EDGAR
- Jun 11, 20264 PRIMARY DOCUMENT EDGAR
- Jun 11, 20264 PRIMARY DOCUMENT EDGAR
- Jun 11, 20264 PRIMARY DOCUMENT EDGAR
- Jun 11, 20264 PRIMARY DOCUMENT EDGAR
- Jun 5, 20264 PRIMARY DOCUMENT EDGAR
- May 7, 202610-Q EDGAR
- Apr 29, 2026SCHEDULE 13G EDGAR
- Apr 28, 2026DEFA14A EDGAR
- Apr 28, 2026DEF 14A EDGAR
- Apr 28, 2026ARS EDGAR
The 156 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
10 open-market trades by officers, directors and large owners since October 2021: 10 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 29, 2025 | MILLER ALAN BPresident, and CEO | Buy | 12,247 | $37.02 | $453.4K | Form 4 |
| May 9, 2024 | McCadden Robert FDirector | Buy | 2,000 | $37.38 | $74.8K | Form 4 |
| Apr 26, 2024 | MILLER ALAN BPresident, and CEO | Buy | 6,000 | $34.65 | $207.9K | Form 4 |
| May 3, 2023 | MILLER ALAN BPresident, and CEO | Buy | 2,395 | $43.18 | $103.4K | Form 4 |
| Mar 10, 2023 | McCadden Robert FDirector | Buy | 1,000 | $48.12 | $48.1K | Form 4 |
| Mar 7, 2023 | MILLER ALAN BPresident, and CEO | Buy | 2,000 | $48.81 | $97.6K | Form 4 |
| Sep 14, 2022 | MILLER ALAN BPresident, and CEO | Buy | 2,000 | $48.32 | $96.6K | Form 4 |
| Sep 8, 2022 | MILLER ALAN BPresident, and CEO | Buy | 2,000 | $48.90 | $97.8K | Form 4 |
| May 11, 2022 | McCadden Robert FDirector | Buy | 500 | $47.81 | $23.9K | Form 4 |
| May 10, 2022 | McCadden Robert FDirector | Buy | 2,000 | $47.88 | $95.8K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- BlackRockSCHEDULE 13G/A, 4 filings Oct 18, 2024 to Jul 8, 202623
- VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 29, 202624
- VANGUARD GROUP INCSCHEDULE 13G/A, 6 filings Feb 10, 2022 to Mar 27, 202625
- State Street CorporationSC 13G/A, 4 filings Feb 10, 2022 to Oct 18, 202426
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 16SEC EDGARTimothy J. Fowler, Vice President
- 17SEC EDGARRebecca A. Guzman, Board member
- 18SEC EDGARMarc D. Miller, Board member
- 19SEC EDGARRobert F. McCadden, Board member
- 20SEC EDGARGayle L. Capozzalo, Board member
- 21SEC EDGARJames P. Morey, Board member
- 22SEC EDGARMichael Allan Domb, Board member
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