Universal Health Realty Income Trust
UHT on NYSE. Universal Health Realty Income Trust owns hospitals, medical buildings, childcare centers, and leases them to healthcare providers. Market value $513m.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
Should I look at this?
Good business, but not cheap right now
Why it could be worth it
See cheaper Real estate stocks on the list
This is not advice. Check the numbers below.
We could not compute this from the filings.
You pay 25.3 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 4 cents a year. Above 10 is good.
Quality score: 71 of 100. Price score: 45 of 100. Our list needs 70 on quality and 60 on price.
$37.42 a share, 6% above its 1-year low
Over the past year the price has ranged from $35.26 to $46.30.
Dividend: 7.9% a year
Paid every year for at least 5 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $84m | $91m | $96m | $99m | $99m |
| Operating margin | |||||
| Operating margin | 34.3% | 33.8% | 32.8% | 37.2% | 35.0% |
| Debt to equity | |||||
| Debt to equity | 1.40 | 1.50 | 1.79 | 2.05 | 2.46 |
| Shares outstanding | |||||
| Shares outstanding | 0.01bn | 0.01bn | 0.01bn | 0.01bn | 0.01bn |
Health checks
- Free cash flow positive3 of 3 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)5 of 7 checks we could run
- Profit backed by cash (accruals)Yes
- Debt2.46× equity
- Revenue growth, five yearsSlow, 4.9% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $25 million last quarter, about the same as a year ago.
- Profit: $6 million, up 32% on a year ago.
- It keeps 35 cents of each $1 of sales as operating profit, down from 36 cents a year earlier.
- About the same number of shares as a year ago.
- Sales grew on a year ago in 2 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $24m |
| December 2024 | $25m |
| March 2025 | $25m |
| June 2025 | $25m |
| September 2025 | $25m |
| December 2025 | $24m |
| March 2026 | $25m |
| June 2026 | $25m |
| Quarter to | Amount |
|---|---|
| September 2024 | $4m |
| December 2024 | $5m |
| March 2025 | $5m |
| June 2025 | $4m |
| September 2025 | $4m |
| December 2025 | $4m |
| March 2026 | $5m |
| June 2026 | $6m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 25 February 2026
- Next quarterly (estimated, 10-Q)
- 6 November 2026
Who owns it
1 long-term investor we follow owns it, unchanged from 1 last quarter. 185 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| LSV Asset ManagementJosef Lakonishok | $465,000 | <0.1% | Added |
Largest holders overall
- BlackRock$65mCut
- Vanguard Portfolio Management$37mCut
- Vanguard Capital Management$25mCut
- State Street$17mCut
- Geode Capital Management$16mAdded
- Mirae Asset Global Etfs Holdings$16mAdded
- Jane Street Group$12mAdded
- TWO Sigma Investments, LP$10mAdded
- Qube Research & Technologies$9mAdded
- Citadel Advisors$9mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
2 investors own more than 5%.
- BlackRock, Inc.Passive investor8.2%−6.1 ptsSince 30 June 2026
- Vanguard Portfolio ManagementPassive investor7.0%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 8.2%−6.1 pts | 30 June 2026 | |
Vanguard Portfolio Management Passive investor | 7.0% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 1 insider bought $453,384 of shares on the open market.
- MILLER ALAN BPresident, and CEO, DirectorBought
- Date
- 29 October 2025
- Shares
- 12,247
- Price
- $37.02
- Value
- $453,384
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 29 October 2025 | MILLER ALAN B President, and CEO, Director | Bought | 12,247 | $37.02 | $453,384 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- It carries a lot of debt: 2.5× its equity.
- It isn't cheap on profits: 25.3× operating profit.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.