Universal Health Realty Income Trust (UHT, Financial) filed Quarterly Report for the period ended 2010-09-30.
Universal Health Realty Income Trust has a market cap of $467.5 million; its shares were traded at around $37.91 with and P/S ratio of 14.6. The dividend yield of Universal Health Realty Income Trust stocks is 6.3%.
We are subject to a federal excise tax computed on a calendar year basis. The excise tax equals 4% of the amount by which 85% of our ordinary income plus 95% of any capital gain income for the calendar year exceeds cash distributions during the calendar year, as defined. No provision for excise tax has been reflected in the financial statements as no tax is expected to be due.
The combined revenues generated from the leases on the UHS hospital facilities accounted for approximately 56% and 51% of our consolidated revenue for the three months ended September 30, 2010 and 2009, respectively, and 55% and 51% for the nine months ended September 30, 2010 and 2009, respectively. Including 100% of the revenues generated at the unconsolidated LLCs in which we have various non-controlling equity interests ranging from 33% to 99%, the leases on the UHS hospital facilities accounted for approximately 20% of the combined consolidated and unconsolidated revenue for each of the three and nine month periods ended September 30, 2010 and 2009. In addition, twelve medical office buildings (MOBs) owned by LLCs in which we hold various non-controlling equity interests, include or will include tenants which are subsidiaries of UHS. The leases to the hospital facilities of UHS are guaranteed by UHS and cross-defaulted with one another. For additional disclosure related to our relationship with UHS, please refer to Note 2 to the condensed consolidated financial statementsRelationship with Universal Health Services, Inc. (UHS) and Related Party Transactions.
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Universal Health Realty Income Trust has a market cap of $467.5 million; its shares were traded at around $37.91 with and P/S ratio of 14.6. The dividend yield of Universal Health Realty Income Trust stocks is 6.3%.
Highlight of Business Operations:
Investments in Limited Liability Companies (LLCs): Our consolidated financial statements include the consolidated accounts of our controlled investments and those investments that meet the criteria of a variable interest entity where we are the primary beneficiary. In accordance with the FASBs standards and guidance relating to accounting for investments and real estate ventures, we account for our unconsolidated investments in LLCs which we do not control using the equity method of accounting. The third-party members in these investments have equal voting rights with regards to issues such as, but not limited to: (i) divestiture of property; (ii) annual budget approval, and; (iii) financing commitments. These investments, which represent 33% to 99% non-controlling ownership interests, are recorded initially at our cost and subsequently adjusted for our net equity in the net income, cash contributions to, and distributions from, the investments. Pursuant to certain agreements, allocations of profits and losses of some of the LLC investments may be allocated disproportionately as compared to ownership interests after specified preferred return rate thresholds have been satisfied.We are subject to a federal excise tax computed on a calendar year basis. The excise tax equals 4% of the amount by which 85% of our ordinary income plus 95% of any capital gain income for the calendar year exceeds cash distributions during the calendar year, as defined. No provision for excise tax has been reflected in the financial statements as no tax is expected to be due.
The combined revenues generated from the leases on the UHS hospital facilities accounted for approximately 56% and 51% of our consolidated revenue for the three months ended September 30, 2010 and 2009, respectively, and 55% and 51% for the nine months ended September 30, 2010 and 2009, respectively. Including 100% of the revenues generated at the unconsolidated LLCs in which we have various non-controlling equity interests ranging from 33% to 99%, the leases on the UHS hospital facilities accounted for approximately 20% of the combined consolidated and unconsolidated revenue for each of the three and nine month periods ended September 30, 2010 and 2009. In addition, twelve medical office buildings (MOBs) owned by LLCs in which we hold various non-controlling equity interests, include or will include tenants which are subsidiaries of UHS. The leases to the hospital facilities of UHS are guaranteed by UHS and cross-defaulted with one another. For additional disclosure related to our relationship with UHS, please refer to Note 2 to the condensed consolidated financial statementsRelationship with Universal Health Services, Inc. (UHS) and Related Party Transactions.
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