Universal Health Realty Income Trust Reports 2018 Fourth Quarter and Full Year Financial Results

Thursday, February 28, 2019 General News
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Consolidated Results of Operations - Three-Month Periods Ended December 31, 2018 and 2017:

Universal Health Realty Income TrustConsolidated Balance Sheets(dollar amounts in thousands)(unaudited)

December 31,

December 31,

2018

2017

Assets:

Real Estate Investments:

Buildings and improvements and construction in progress

$

557,650

$

546,634

Accumulated depreciation

(173,316)

(153,379)

384,334

393,255

Land

53,396

53,142

               Net Real Estate Investments

437,730

446,397

Investments in limited liability companies ("LLCs")

5,019

4,671

Other Assets:

Cash and cash equivalents

5,036

3,387

Base and bonus rent and other receivables from UHS

2,739

2,680

Rent receivable - other

7,469

6,422

Intangible assets (net of accumulated amortization of $27.6 million and

   $28.7 million, respectively)

17,407

20,559

Deferred charges and other assets, net

8,356

5,892

               Total Assets

$

483,756

$

490,008

Liabilities:

Line of credit borrowings

$

196,400

$

181,050

Mortgage notes payable, non-recourse to us, net

64,881

75,359

Accrued interest

450

540

Accrued expenses and other liabilities

11,765

12,188

Tenant reserves, deposits and deferred and prepaid rents

11,650

10,310

               Total Liabilities

285,146

279,447

Equity:

Preferred shares of beneficial interest,

   $.01 par value; 5,000,000 shares authorized;

   none issued and outstanding

-

-

Common shares, $.01 par value;

   95,000,000 shares authorized; issued and outstanding: 2018 - 13,746,803;

   2017 - 13,735,369

137

137

Capital in excess of par value

266,031

265,335

Cumulative net income

642,316

618,120

Cumulative dividends

(710,006)

(673,175)

Accumulated other comprehensive income

132

144

     Total Equity

198,610

210,561

               Total Liabilities and Equity

$

483,756

$

490,008



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