Business Context and Reporting Period
Company: Universal Health Realty Income Trust (UHT)
Filing Type: Form 8-K (Current Report)
Date of Report: April 21, 2026
Event: Entry into a Material Definitive Agreement regarding the amendment of the company's credit facility.
Key Financial Metrics and Debt Structure
This filing details a specific amendment to the company's debt structure rather than reporting periodic financial performance metrics such as revenue or cash flow.
- New Debt Facility: $50 million incremental term loan (2026 Incremental Term Loan).
- Interest Rate Basis: SOFR (1, 3, or 6-month) or Base Rate plus a margin based on the Total Leverage Ratio.
- Maturity Date: September 30, 2028.
- Covenant Change: Minimum tangible net worth requirement increased to $100 million.
- Rate Adjustment: Removal of the 0.10% per annum Term SOFR Adjustment from definitions of "Adjusted Term SOFR" and "Adjusted Daily Simple SOFR."
Material Changes Versus Prior Period
The filing does not provide comparative financial data (e.g., revenue or profit changes) against a prior period. The material changes are strictly contractual and structural:
- Expansion of the existing credit agreement to include a new $50 million term loan.
- Modification of the interest rate calculation by removing the 0.10% SOFR adjustment.
- Adjustment of the minimum tangible net worth covenant to $100 million.
- Addition of a new subsidiary as a guarantor to the credit agreement.
Guidance, Outlook, and Risks
Management Commentary: The filing summarizes the terms of the First Amendment to the Second Amended and Restated Credit Agreement. It confirms that the new loan terms are consistent with the existing term loan structure regarding interest rate margins and maturity dates.
Risks and Contingencies: The filing does not explicitly list new risks or contingencies beyond the standard obligations of the amended credit agreement. The full text of the First Amendment is referenced as Exhibit 10.1 for complete terms.
Guidance: No forward-looking financial guidance or outlook is provided in this specific filing.
Key Facts for Investor Verification
- Verify the impact of the new $50 million term loan on the company's Total Leverage Ratio and interest expense.
- Confirm the company's current tangible net worth to ensure compliance with the new $100 million minimum requirement.
- Review the full text of the First Amendment (Exhibit 10.1) for specific margin rates tied to the Total Leverage Ratio.
- Identify the specific new subsidiary added as a guarantor and its asset base.