In this article, I will describe a rather unpopular REIT that has a long history of delivering stable returns and generating alpha of ~600% since the 2000. I will elaborate on the underlying business model, the growth prospects, and the key risks that could hamper the development. These elements will then be put in the context of current valuations, which would provide an answer as to whether the REIT is reasonably valued.
Illiquid small-cap REIT with a huge dependence on UHS
The REIT which I will be describing is Universal Health Realty Income Trust (UHT)