In This Article:
Shares of Universal Health Realty Income Trust UHT have gained 0.9% since the company reported its earnings for the quarter ended Dec. 31, 2024. This compares to the S&P 500 Index’s 1.7% loss over the same time frame. Over the past month, the stock gained 3.9% versus the S&P 500’s 3.4% decline.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Earnings Performance
Universal Health Realty reported net income of $4.7 million, or $0.34 per diluted share, for the fourth quarter of 2024, up 29.7% from $3.6 million, or $0.26 per diluted share, in the prior-year quarter. Adjusted net income, which excludes the prior-year’s loss on divestiture, increased $836,000, or $0.06 per diluted share. This improvement was driven by a $1.2 million increase in income generated at various properties, partially offset by a $337,000 increase in interest expense.
For 2024, net income rose 24.9% to $19.2 million, or $1.39 per diluted share, compared with $15.4 million, or $1.11 per diluted share, in 2023. Adjusted net income grew $3.6 million, or $0.26 per diluted share, supported by a $3.5 million net income gain from properties and a $2.0 million reduction in expenses related to a property in Chicago, IL. These gains were partially offset by a $1.9 million increase in interest expense.
Funds from operations (FFO), a key metric for real estate investment trusts, rose 3.3% to $11.8 million, or $0.85 per diluted share, in fourth-quarter 2024 compared with $11.4 million, or $0.82 per diluted share, a year earlier. For the full year, FFO grew 7.4% to $47.9 million, or $3.46 per diluted share, from $44.6 million, or $3.23 per diluted share, in 2023.
Universal Health Realty Income Trust Price, Consensus and EPS Surprise
Universal Health Realty Income Trust price-consensus-eps-surprise-chart | Universal Health Realty Income Trust Quote
Key Business Metrics
Lease revenue from Universal Health Services (UHS) facilities remained relatively stable at $8.3 million in fourth-quarter 2024 compared with $8.3 million in the prior-year period. Meanwhile, lease revenue from non-related parties increased 3.1% to $14.5 million from $14 million.
Lease revenue from UHS facilities increased 3.1% to $33.6 million in 2024 compared with $32.6 million in the prior-year period. Meanwhile, lease revenue from non-related parties increased 4.8% to $57.7 million from $54.9 million.
Interest income from financing leases associated with UHS facilities was $1.355 million for the quarter, down 0.5% from $1.362 million a year earlier. For the full year, the metric was $5.4 million, down 0.5% from $5.5 million in the comparable 2023 period.