Universal Health Realty Income Trust (UHT) has reported a 612.78 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $31.56 million, or $2.32 a share in the quarter, compared with $4.43 million, or $0.33 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $4.37 million, or $0.32 a share compared with $4.43 million or $0.33 a share, a year ago.
Revenue from real estate activities during the quarter increased 9.39 percent or $1.52 million to $17.75 million.
Cost of revenue rose 10.25 percent or $0.09 million during the quarter to $0.94 million. Gross margin for the quarter contracted 4 basis points over the previous year period to 94.73 percent.
Total expenses were $11.79 million for the quarter, up 10.30 percent or $1.10 million from year-ago period. Operating margin for the quarter contracted 55 basis points over the previous year period to 33.60 percent.
Operating income for the quarter was $5.96 million, compared with $5.54 million in the previous year period.
Income from operating leases during the quarter rose 8.46 percent or $1.20 million to $15.34 million. Revenue from tenant reimbursements was $2.41 million for the quarter, up 15.74 percent or $0.33 million from year-ago period.
Receivables move up
Net receivables were at $5.52 million as on Mar. 31, 2017, up 20.70 percent or $0.95 million from year-ago. Total assets grew 6.64 percent or $31.27 million to $502.38 million on Mar. 31, 2017. On the other hand, total liabilities were at $288.28 million as on Mar. 31, 2017, up 2.94 percent or $8.23 million from year-ago.
Return on assets moved up 541 basis points to 6.81 percent in the quarter. At the same time, return on equity moved up 1242 basis points to 14.74 percent in the quarter.
Debt moves up marginally
Total debt was at $272.90 million as on Mar. 31, 2017, up 1.46 percent or $3.92 million from year-ago. Shareholders equity stood at $214.10 million as on Mar. 31, 2017, up 12.06 percent or $23.04 million from year-ago. As a result, debt to equity ratio went down 13 basis points to 1.27 percent in the quarter.
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