UNIVERSAL HEALTH REALTY INCOME TRUST REPORTS 2024 THIRD QUARTER FINANCIAL RESULTS

Consolidated Results - For the three-month period ended September 30, 2024, net income was $4.0 million, or $0.29 per diluted share, compared to $3.9 million, or $0.28 per diluted share in Q3 2023, reflecting an increase of $125,000, or $0.01 per diluted share [1] - The increase in net income was driven by a $451,000 increase in income from various properties, partially offset by a $326,000 increase in interest expense due to higher average borrowings and borrowing rates [1] - For the nine-month period ended September 30, 2024, net income was $14.6 million, or $1.05 per diluted share, compared to $11.8 million, or $0.85 per diluted share in the same period of 2023 [2] Funds from Operations (FFO) - FFO for Q3 2024 was $11.3 million, or $0.82 per diluted share, compared to $11.2 million, or $0.81 per diluted share in Q3 2023, reflecting an increase of $124,000, or $0.01 per diluted share [2] - For the nine-month period ended September 30, 2024, FFO was $36.1 million, or $2.61 per diluted share, compared to $33.2 million, or $2.40 per diluted share in the same period of 2023, an increase of $2.9 million, or $0.21 per diluted share [4] Dividend Information - A dividend of $0.73 per share, totaling $10.1 million, was declared on September 4, 2024, and paid on September 30, 2024 [4] Capital Resources - As of September 30, 2024, the company entered into a second amended and restated credit agreement, increasing borrowing capacity to $425 million from $375 million and extending the maturity date to September 30, 2028 [4] - The company had $347.8 million of borrowings outstanding under the revolving credit agreement and $77.2 million of available borrowing capacity as of that date [5] Property Developments - Construction of Sierra Medical Plaza I, an 86,000 square foot medical office building in Reno, Nevada, was substantially completed in March 2023, with an estimated total cost of approximately $35 million [5] - The master flex lease agreement for this building commenced in March 2023, covering about 68% of the rentable square feet at an initial minimum rent of $1.3 million annually [5] Financial Instruments - In October 2024, the company entered into an interest rate swap agreement with a notional amount of $85 million at a fixed interest rate of 3.2725%, effective from October 2, 2024, and maturing on September 30, 2028 [6]