Universal Health Realty Income Trust (UHT) has reported a 4.92 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $3.82 million, or $0.28 a share in the quarter, compared with $3.64 million, or $0.27 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $3.82 million, or $0.28 a share compared with $3.64 million or $0.27 a share, a year ago.
Revenue during the quarter grew 7.11 percent to $16.80 million from $15.69 million in the previous year period.
Cost of revenue surged 64.27 percent or $0.46 million during the quarter to $1.16 million. Gross margin for the quarter contracted 241 basis points over the previous year period to 93.08 percent.
Total expenses were $11.72 million for the quarter, up 10.63 percent or $1.13 million from year-ago period. Operating margin for the quarter contracted 222 basis points over the previous year period to 30.25 percent.
Operating income for the quarter was $5.08 million, compared with $5.09 million in the previous year period.
Revenue from real estate activities during the quarter increased 7.11 percent or $1.11 million to $16.80 million.
Income from operating leases during the quarter rose 4.25 percent or $0.59 million to $14.46 million. Revenue from tenant reimbursements was $2.34 million for the quarter, up 28.86 percent or $0.52 million from year-ago period.
Receivables move up
Net receivables were at $4.65 million as on Sep. 30, 2016, up 5.32 percent or $0.24 million from year-ago.
Total assets grew 16.35 percent or $71.74 million to $510.39 million on Sep. 30, 2016. On the other hand, total liabilities were at $315.05 million as on Sep. 30, 2016, up 31.59 percent or $75.63 million from year-ago.
Return on assets moved down 8 basis points to 1.21 percent in the quarter. At the same time, return on equity moved up 13 basis points to 1.95 percent in the quarter.
Debt increases substantially
Total debt was at $299.91 million as on Sep. 30, 2016, up 30.28 percent or $69.71 million from year-ago. Shareholders equity stood at $195.34 million as on Sep. 30, 2016, down 1.96 percent or $3.90 million from year-ago. As a result, debt to equity ratio went up 38 basis points to 1.54 percent in the quarter.
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