Universal Health Realty Q2 net income drops
Overview
Universal Health Realty Q2 net income falls to $4.5 mln from $5.3 mln
Funds from operations for Q2 decrease to $11.8 mln from $12.4 mln
Net income decline due to higher interest expense and lower property income
Result Drivers
PROPERTY TAX REDUCTION - Decrease in net income due to a $563,000 reduction in property tax benefits recorded in Q2 2024 at Chicago property
INTEREST EXPENSE - Increased interest expense of $137,000 due to higher average borrowings under credit agreement
PROPERTY INCOME DECLINE - Net decrease of $84,000 in income generated at various properties contributed to the decline in net income
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS |
| $0.32 |
|
Q2 Net Income |
| $4.49 mln |
|
Q2 FFO |
| $11.79 mln |
|
Q2 Basic EPS |
| $0.33 |
|
Q2 Dividend |
| $0.74 |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the specialized reits peer group is "buy"
Wall Street's median 12-month price target for Universal Health Realty Income Trust is $47.00, about 12.3% above its July 25 closing price of $41.20
Press Release: ID:nPn4hbDvja
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