Overview
Universal Health Realty Income Trust (UHT) operates as a specialized, healthcare-focused real estate investment trust (REIT) that acquires, owns, and manages a highly defensive portfolio of clinical and medical properties across the United States. Founded in 1986, the trust secures stable, long-term, inflation-protected cash flows by leasing mission-critical healthcare infrastructure to institutional operators. As of late February 2026, UHT’s portfolio comprised seventy-seven real estate investments across twenty-one states, including sixty-one medical office buildings (MOBs), six hospital facilities (acute care and behavioral health), four free-standing emergency departments (FEDs), four preschool childcare centers, one specialty medical facility, and strategic packages of vacant land. Revenues are generated through contractually recurring triple-net lease payments and interest income from long-term financing lease structures. UHT's operations are deeply intertwined with Universal Health Services, Inc. (UHS), its most significant tenant and strategic partner, which leases all six hospital facilities and nineteen additional properties, generating approximately 40% to 41% of consolidated revenues. Furthermore, a UHS subsidiary serves as UHT's Advisor, granting the trust deep market intelligence and high tenant retention, supporting a remarkable history of thirty-nine consecutive years of uninterrupted dividend growth.