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UNIVERSAL HEALTH REALTY INCOME TRUST ANNOUNCES GAINS IN CASH PER SHARE AVAILABLE FOR DISTRIBUTION FOR THE FOURTH QUARTER AND FULL YEAR 1991

UNIVERSAL HEALTH REALTY INCOME TRUST ANNOUNCES GAINS IN CASH PER SHARE AVAILABLE FOR DISTRIBUTION FOR THE FOURTH QUARTER AND FULL YEAR 1991
 KING OF PRUSSIA, Pa., Jan. 17 /PRNewswire/ -- Universal Health Realty Income Trust (NYSE: UHT) announced today that its net income per share for the quarter ended Dec. 31, 1991, increased 31 percent to $.38 and its net income per share for the year ended Dec. 31, 1991, increased 17 percent to $1.53 over the prior year periods.
 Cash per share available for distribution increased 19 percent in the quarter ended Dec. 31, 1991, and 9 percent for the full year compared to the prior year periods.
 The quarterly dividend paid on Dec. 31, 1991, was $.395 per share or 79 percent of cash per share available for distribution. For the full year 1991, dividends paid were $1.54 per share or 78 percent of cash per share available for distribution.
 During the year, the Trust's interest expense declined $918,000 or $.13 per share due to lower interest rates and debt repayments during the year of $5,095,000. At Dec. 31, 1991, the Trust's balance sheet showed $89.5 million of equity and $45.8 million of debt.
 Universal Health Realty Income Trust, a real estate investment trust, commenced operations on Dec. 24, 1986. It currently owns seven acute-care hospitals, three psychiatric hospitals, a rehabilitation hospital, and provides mortgage financing for a 90-bed psychiatric hospital.
 UNIVERSAL HEALTH REALTY INCOME TRUST
 (Amounts in thousands, except per-share; unaudited)
 Periods ended Three months 12 months
 Dec. 31 1991 1990 1991 1990
 Revenues:
 Base rental $3,889 $3,953 $15,704 $15,810
 Bonus rental 486 450 2,060 1,868
 Interest 475 284 2,101 1,757
 Total 4,850 4,687 19,865 19,435
 Expenses:
 Depreciation and amortization 791 790 3,165 3,152
 Interest expense 1,020 1,315 4,275 5,193
 Advisory fees 225 229 909 916
 Other operating expenses 106 156 778 577
 (Gain) loss on
 marketable securities --- 164 (57) 392
 Total 2,142 2,654 9,070 10,230
 Net income 2,708 2,033 10,795 9,205
 Net income per share $.38 $.29 $1.53 $1.31
 Average shares outstanding 7,047 7,047 7,047 7,047
 Net income $2,708 $2,033 $10,795 $9,205
 ADD: Depreciation and
 amortization expense 791 790 3,165 3,152
 (Gain) loss on
 marketable securities --- 164 (57) 392
 Cash available for dist. 3,499 2,987 13,903 12,749
 Cash per share avail. for dist. $.50 $.42 $1.97 $1.81
 Dividend paid .395 .37 1.54 1.48
 /delval/
 -0- 1/17/92
 /CONTACT: Kirk E. Gorman of Universal Health Realty Income Trust, 215-265-0688/
 (UHT) CO: Universal Health Realty Income Trust ST: Pennsylvania IN: SU: ERN


MP-LJ -- PH003 -- 0887 01/17/92 09:51 EST
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Date:Jan 17, 1992
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