UNIVERSAL HEALTH REALTY INCOME TRUST REPORTS 2024 SECOND QUARTER FINANCIAL RESULTS

Financial Performance - The company reported a net income of $5.3 million, or $0.38 per diluted share, for the second quarter of 2024, compared to $3.5 million, or $0.25 per diluted share, in the same quarter of 2023, reflecting an increase of $1.8 million, or $0.13 per diluted share [6][18] - For the six-month period ended June 30, 2024, net income was $10.6 million, or $0.76 per diluted share, compared to $7.9 million, or $0.57 per diluted share during the first six months of 2023, indicating a growth of $2.6 million, or $0.19 per diluted share [2][19] Revenue and Expenses - Total revenues for the second quarter of 2024 were $24.7 million, up from $23.8 million in the second quarter of 2023, driven by increased lease revenue from both UHS facilities and non-related parties [13] - The company experienced a reduction in expenses related to its Chicago property, contributing to the increase in net income, with a decrease of $1.5 million in demolition expenses and a property tax reduction of $563,000 [19] Funds from Operations (FFO) - The FFO for the second quarter of 2024 was $12.4 million, or $0.90 per diluted share, compared to $10.6 million, or $0.77 per diluted share in the second quarter of 2023, marking an increase of $1.8 million, or $0.13 per diluted share [18] - For the first six months of 2024, FFO was $24.8 million, or $1.79 per diluted share, compared to $22.0 million, or $1.59 per diluted share during the same period in 2023, reflecting an increase of $2.8 million, or $0.20 per diluted share [7] Dividend Information - A dividend of $0.73 per share, totaling $10.1 million, was declared on June 5, 2024, and paid on June 28, 2024 [20] Capital Resources - As of June 30, 2024, the company had $342.9 million in borrowings outstanding under its $375 million revolving credit agreement, with $32.1 million of available borrowing capacity [3]