Universal Health Realty Income Trust (UHT) Q1 2026 earnings summary

Executive summary

• Net income for Q1 2026 was $5.0 million ($0.36 per diluted share), up from $4.8 million ($0.34 per diluted share) in Q1 2025, driven by lower interest expense and increased property income.

• Funds from operations (FFO) increased to $12.3 million ($0.88 per diluted share) from $11.9 million ($0.86 per diluted share) year-over-year.

• Revenues were stable at $24.5 million for both Q1 2026 and Q1 2025, with UHS-related tenants accounting for 41% of consolidated revenues.

• A quarterly dividend of $0.745 per share ($10.3 million total) was declared and paid.

Financial highlights

• Lease revenue from UHS facilities was $8.4 million, and from non-related parties $14.2 million in Q1 2026.

• Interest income on financing leases was $1.3 million.

• Depreciation and amortization expense was $7.0 million; interest expense decreased to $4.45 million.

• Basic and diluted EPS were $0.36 for Q1 2026, compared to $0.35 and $0.34, respectively, in Q1 2025.

• Total assets at March 31, 2026 were $563.8 million; total equity was $147.8 million.

Outlook and guidance

• Management expects sufficient capital resources for the next twelve months, including distributions to maintain REIT status.

• No guidance changes or material updates to critical accounting policies were reported.

• Construction of Miller Medical Plaza began in February 2026, with completion expected in Q4 2026 and a 10-year master lease for 75% of rentable space already secured.

• Management highlighted ongoing risks from interest rate increases, healthcare industry regulation, and macroeconomic factors affecting tenants.