$UHT
UNIVERSAL HEALTH REALTY INCOME TRUST

2024 Q3 Form 10-Q Financial Statement

#000095017024094044 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $24.49M $24.73M
YoY Change 1.12% 3.9%
Cost Of Revenue $7.609M $6.975M
YoY Change -3.12% -15.45%
Gross Profit $16.89M $17.76M
YoY Change 3.15% 14.16%
Gross Profit Margin 68.94% 71.8%
Selling, General & Admin $1.386M $1.369M
YoY Change 4.05% 3.48%
% of Gross Profit 8.21% 7.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.009M $6.806M
YoY Change -0.04% -0.63%
% of Gross Profit 41.51% 38.32%
Operating Expenses $8.395M $8.175M
YoY Change 0.74% 0.04%
Operating Profit $8.490M $9.584M
YoY Change 5.79% 29.79%
Interest Expense -$4.493M -$4.308M
YoY Change 7.9% 10.24%
% of Operating Profit -52.92% -44.95%
Other Income/Expense, Net
YoY Change
Pretax Income $3.997M $5.276M
YoY Change 3.23% 51.78%
Income Tax
% Of Pretax Income
Net Earnings $3.997M $5.276M
YoY Change 3.23% 51.78%
Net Earnings / Revenue 16.32% 21.33%
Basic Earnings Per Share $0.29 $0.38
Diluted Earnings Per Share $0.29 $0.38
COMMON SHARES
Basic Shares Outstanding 13.85M 13.83M
Diluted Shares Outstanding 13.85M 13.83M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.372M $5.577M
YoY Change -23.77% -41.04%
Cash & Equivalents $6.372M $5.577M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $21.95M $20.30M
YoY Change -4.3% -14.65%
LONG-TERM ASSETS
Property, Plant & Equipment $441.1M $444.8M
YoY Change -4.32% -2.93%
Goodwill
YoY Change
Intangibles $7.758M $8.193M
YoY Change -19.61% -1.8%
Long-Term Investments $14.26M $14.33M
YoY Change 52.86% 54.13%
Other Assets $16.35M $15.87M
YoY Change -24.27% -21.44%
Total Long-Term Assets $562.4M $566.3M
YoY Change -3.86% -2.29%
TOTAL ASSETS
Total Short-Term Assets $21.95M $20.30M
Total Long-Term Assets $562.4M $566.3M
Total Assets $584.3M $586.6M
YoY Change -3.87% -2.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $24.35M $22.10M
YoY Change -2.95% -8.76%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $24.35M $22.10M
YoY Change -2.95% -8.76%
LONG-TERM LIABILITIES
Long-Term Debt $367.4M $362.9M
YoY Change 1.83% 3.34%
Other Long-Term Liabilities $10.93M $10.88M
YoY Change -6.33% -3.82%
Total Long-Term Liabilities $378.3M $373.7M
YoY Change 1.57% 3.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.35M $22.10M
Total Long-Term Liabilities $378.3M $373.7M
Total Liabilities $402.7M $395.9M
YoY Change 1.29% 2.37%
SHAREHOLDERS EQUITY
Retained Earnings $840.6M $836.6M
YoY Change 2.21% 2.2%
Common Stock $271.0M $270.7M
YoY Change 0.24% 0.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $181.6M $190.7M
YoY Change
Total Liabilities & Shareholders Equity $584.3M $586.6M
YoY Change -3.87% -2.78%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $3.997M $5.276M
YoY Change 3.23% 51.78%
Depreciation, Depletion And Amortization $7.009M $6.806M
YoY Change -0.04% -0.63%
Cash From Operating Activities $9.893M $12.13M
YoY Change -2.65% -1.04%
INVESTING ACTIVITIES
Capital Expenditures $1.702M $1.039M
YoY Change -84.57% -72.56%
Acquisitions
YoY Change
Other Investing Activities $205.0K $317.0K
YoY Change 180.82% 3.93%
Cash From Investing Activities -$1.497M -$722.0K
YoY Change -86.34% -79.26%
FINANCING ACTIVITIES
Cash Dividend Paid $10.10M $10.20M
YoY Change 2.02% 2.0%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.601M -13.52M
YoY Change 2383.99% 81.93%
NET CHANGE
Cash From Operating Activities 9.893M 12.13M
Cash From Investing Activities -1.497M -722.0K
Cash From Financing Activities -7.601M -13.52M
Net Change In Cash 795.0K -2.120M
YoY Change -172.27% -258.33%
FREE CASH FLOW
Cash From Operating Activities $9.893M $12.13M
Capital Expenditures $1.702M $1.039M
Free Cash Flow $8.191M $11.09M
YoY Change -1044.75% 30.94%

Facts In Submission

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CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
188000
CY2023Q2 uht Dividends Per Share
DividendsPerShare
0.72
CY2023Q2 us-gaap Dividends
Dividends
9951000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
3476000
CY2023Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
715000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
4191000
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
216635000
us-gaap Profit Loss
ProfitLoss
10576000
us-gaap Profit Loss
ProfitLoss
7935000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
13615000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
13467000
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-89000
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-73000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-24000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
383000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
347000
us-gaap Share Based Compensation
ShareBasedCompensation
413000
us-gaap Share Based Compensation
ShareBasedCompensation
376000
us-gaap Increase Decrease In Leasing Receivables
IncreaseDecreaseInLeasingReceivables
375000
us-gaap Increase Decrease In Leasing Receivables
IncreaseDecreaseInLeasingReceivables
490000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-1309000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-618000
uht Increase Decrease In Tenant Reserves Deposits Deferred And Prepaid Rents
IncreaseDecreaseInTenantReservesDepositsDeferredAndPrepaidRents
-157000
uht Increase Decrease In Tenant Reserves Deposits Deferred And Prepaid Rents
IncreaseDecreaseInTenantReservesDepositsDeferredAndPrepaidRents
-241000
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-534000
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
38000
uht Increase Decrease In Leasing Costs
IncreaseDecreaseInLeasingCosts
764000
uht Increase Decrease In Leasing Costs
IncreaseDecreaseInLeasingCosts
604000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-1038000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-2285000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
23865000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
22322000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
5892000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
3869000
us-gaap Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
128000
uht Cash Distributions In Excess Of Income From Limited Liability Companies
CashDistributionsInExcessOfIncomeFromLimitedLiabilityCompanies
688000
uht Cash Distributions In Excess Of Income From Limited Liability Companies
CashDistributionsInExcessOfIncomeFromLimitedLiabilityCompanies
369000
us-gaap Proceeds From Collection Of Longterm Loans To Related Parties
ProceedsFromCollectionOfLongtermLoansToRelatedParties
3500000
us-gaap Real Estate Period Increase Decrease
RealEstatePeriodIncreaseDecrease
-4335000
us-gaap Real Estate Period Increase Decrease
RealEstatePeriodIncreaseDecrease
-8789000
uht Payments For Deposit On Real Estate Assets
PaymentsForDepositOnRealEstateAssets
100000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9667000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8889000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
16300000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
13300000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
12918000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
4995000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
49000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
132000
us-gaap Payments Of Dividends
PaymentsOfDividends
20156000
us-gaap Payments Of Dividends
PaymentsOfDividends
19837000
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
-10000
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
76000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-16833000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-11588000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2635000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1845000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
8212000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7614000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
5577000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
9459000
us-gaap Interest Paid Net
InterestPaidNet
8211000
us-gaap Interest Paid Net
InterestPaidNet
7736000
us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
902000
us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
1808000
uht Number Of Bed Facility
NumberOfBedFacility
100
CY2024Q2 uht Annual Advisory Fees As Percentage Of Average Invested Real Estate Assets
AnnualAdvisoryFeesAsPercentageOfAverageInvestedRealEstateAssets
0.007
CY2023Q2 uht Annual Advisory Fees As Percentage Of Average Invested Real Estate Assets
AnnualAdvisoryFeesAsPercentageOfAverageInvestedRealEstateAssets
0.007
CY2024Q2 us-gaap Payments Of Dividends
PaymentsOfDividends
10200000
CY2024Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.73
CY2023Q2 us-gaap Payments Of Dividends
PaymentsOfDividends
10000000
CY2023Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.72
us-gaap Payments Of Dividends
PaymentsOfDividends
20200000
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.455
us-gaap Payments Of Dividends
PaymentsOfDividends
19800000
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.435
CY2024Q2 uht Aggregate Initial Offering Price Of Threshold Amount
AggregateInitialOfferingPriceOfThresholdAmount
100000000
CY2024Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
0
us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
0
uht Number Of Businesses Disposed
NumberOfBusinessesDisposed
0
us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
0
uht Number Of Businesses Disposed
NumberOfBusinessesDisposed
0
uht Number Of Ground Leases For Land
NumberOfGroundLeasesForLand
15
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
10900000
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
10900000
us-gaap Debt Instrument Interest Rate Terms
DebtInstrumentInterestRateTerms
Borrowings under the Credit Agreement will bear interest at a rate equal to, at our option, at adjusted term SOFR for either one, three, or six months or the Base Rate, plus in either case, a specified margin depending on our total leverage ratio, as determined by the formula set forth in the Credit Agreement. The applicable margin after the first amendment ranges from 1.10% to 1.35% for adjusted term SOFR loans and 0.10% to 0.35% for Base Rate loans.
CY2024Q2 us-gaap Line Of Credit
LineOfCredit
342900000
CY2024Q2 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
32100000
CY2024Q2 us-gaap Compensating Balance Amount
CompensatingBalanceAmount
0
CY2023Q4 us-gaap Line Of Credit
LineOfCredit
326600000
CY2023Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
3100000
CY2023Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
45300000
CY2024Q2 uht Debt Instrument Covenant Tangible Net Worth
DebtInstrumentCovenantTangibleNetWorth
125000000
CY2024Q2 uht Tangible Net Worth
TangibleNetWorth
182508000
CY2023Q4 uht Tangible Net Worth
TangibleNetWorth
191824000
CY2024Q2 uht Leverage Ratio
LeverageRatio
0.44
CY2023Q4 uht Leverage Ratio
LeverageRatio
0.445
CY2024Q2 uht Secured Leverage Ratio
SecuredLeverageRatio
0.025
CY2023Q4 uht Secured Leverage Ratio
SecuredLeverageRatio
0.041
CY2024Q2 uht Unencumbered Leverage Ratio
UnencumberedLeverageRatio
0.453
CY2023Q4 uht Unencumbered Leverage Ratio
UnencumberedLeverageRatio
0.442
CY2024Q2 uht Fixed Charge Coverage Ratio
FixedChargeCoverageRatio
0.032
CY2023Q4 uht Fixed Charge Coverage Ratio
FixedChargeCoverageRatio
0.031
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 uht Rule10 B51 Arr Modified Flag
Rule10B51ArrModifiedFlag
false
CY2024Q2 uht Non Rule10 B51 Arr Modified Flag
NonRule10B51ArrModifiedFlag
false

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