Universal Health Realty Income Trust Reports 5% Increase in First Quarter Funds From Operations Per Share

Apr 16, 2001, 01:00 ET from Universal Health Realty Income Trust

    KING OF PRUSSIA, Pa., April 16 /PRNewswire/ -- Universal Health Realty
 Income Trust (NYSE:   UHT) announced today that funds from operations (FFO) per
 share for the quarter ended March 31, 2001 increased 5% to $.66 compared to
 $.63 for the same period in the prior year.  Net income per share for the
 quarter ended March 31, 2001 was $.46 compared to $.44 for the same period in
 the prior year.
     At March 31, 2001, the Trust's shareholders' equity was $97.9 million and
 the Trust's liabilities for borrowed funds was $81.1 million resulting in a
 debt to total capitalization ratio of 45%.  The first quarter dividend of
 $.465 per share was paid on March 31, 2001 and represents a dividend payout
 ratio of 70%.
     Universal Health Realty Income Trust, a real estate investment trust,
 invests in healthcare and human service related facilities including acute
 care hospitals, behavioral healthcare facilities, rehabilitation hospitals,
 sub-acute care facilities, surgery centers, childcare centers and medical
 office buildings.   The Trust has forty-one investments in fifteen states.
 
 
                      Universal Health Realty Income Trust
                              Statements of Income
               For the Three Months Ended March 31, 2001 and 2000
                (amounts in thousands, except per share amounts)
                                  (unaudited)
 
                                                           Three Months
                                                          Ended March 31,
                                                        2001           2000
     Revenues:
       Base rental                                     $6,017         $5,903
       Bonus rental                                       868            782
                                                        6,885          6,685
 
     Expenses:
       Depreciation & amortization                      1,103          1,088
       Interest expense                                 1,445          1,418
       Advisory fees                                      336            325
       Other operating expenses                           762            705
       Gain on derivatives                                (79)             -
                                                        3,567          3,536
 
     Income before equity in limited liability
      companies ("LLCs")                                3,318          3,149
 
     Equity in income of LLCs                             822            767
 
               Net income                              $4,140         $3,916
 
               Net income per share - Basic             $0.46          $0.44
 
               Net income per share - Diluted           $0.46          $0.44
 
     Weighted average number of shares outstanding
      - (Basic)                                         8,986          8,983
     Weighted average number of share equivalents          40             14
     Weighted average number of shares and equivalents
      - (Diluted)                                       9,026          8,997
 
 
                                                           Three Months
                                                          Ended March 31,
                                                        2001          2000
 
     Net income                                        $4,140         $3,916
 
     Plus: Depreciation expense:
             Consolidated investments                   1,093          1,081
             Unconsolidated affiliates                    835            665
           Gain on derivatives                            (79)             -
           Funds from operations (FFO)                 $5,989         $5,662
 
     Funds from operations (FFO) per share - Basic      $0.67          $0.63
     Funds from operations (FFO) per share - Diluted    $0.66          $0.63
 
     Dividend paid                                     $0.465         $0.455
 
 

SOURCE Universal Health Realty Income Trust
    KING OF PRUSSIA, Pa., April 16 /PRNewswire/ -- Universal Health Realty
 Income Trust (NYSE:   UHT) announced today that funds from operations (FFO) per
 share for the quarter ended March 31, 2001 increased 5% to $.66 compared to
 $.63 for the same period in the prior year.  Net income per share for the
 quarter ended March 31, 2001 was $.46 compared to $.44 for the same period in
 the prior year.
     At March 31, 2001, the Trust's shareholders' equity was $97.9 million and
 the Trust's liabilities for borrowed funds was $81.1 million resulting in a
 debt to total capitalization ratio of 45%.  The first quarter dividend of
 $.465 per share was paid on March 31, 2001 and represents a dividend payout
 ratio of 70%.
     Universal Health Realty Income Trust, a real estate investment trust,
 invests in healthcare and human service related facilities including acute
 care hospitals, behavioral healthcare facilities, rehabilitation hospitals,
 sub-acute care facilities, surgery centers, childcare centers and medical
 office buildings.   The Trust has forty-one investments in fifteen states.
 
 
                      Universal Health Realty Income Trust
                              Statements of Income
               For the Three Months Ended March 31, 2001 and 2000
                (amounts in thousands, except per share amounts)
                                  (unaudited)
 
                                                           Three Months
                                                          Ended March 31,
                                                        2001           2000
     Revenues:
       Base rental                                     $6,017         $5,903
       Bonus rental                                       868            782
                                                        6,885          6,685
 
     Expenses:
       Depreciation & amortization                      1,103          1,088
       Interest expense                                 1,445          1,418
       Advisory fees                                      336            325
       Other operating expenses                           762            705
       Gain on derivatives                                (79)             -
                                                        3,567          3,536
 
     Income before equity in limited liability
      companies ("LLCs")                                3,318          3,149
 
     Equity in income of LLCs                             822            767
 
               Net income                              $4,140         $3,916
 
               Net income per share - Basic             $0.46          $0.44
 
               Net income per share - Diluted           $0.46          $0.44
 
     Weighted average number of shares outstanding
      - (Basic)                                         8,986          8,983
     Weighted average number of share equivalents          40             14
     Weighted average number of shares and equivalents
      - (Diluted)                                       9,026          8,997
 
 
                                                           Three Months
                                                          Ended March 31,
                                                        2001          2000
 
     Net income                                        $4,140         $3,916
 
     Plus: Depreciation expense:
             Consolidated investments                   1,093          1,081
             Unconsolidated affiliates                    835            665
           Gain on derivatives                            (79)             -
           Funds from operations (FFO)                 $5,989         $5,662
 
     Funds from operations (FFO) per share - Basic      $0.67          $0.63
     Funds from operations (FFO) per share - Diluted    $0.66          $0.63
 
     Dividend paid                                     $0.465         $0.455
 
 SOURCE  Universal Health Realty Income Trust