Artisan Partners, an investment management company, released its “Artisan Value Income Fund” first quarter 2024 investor letter. A copy of the letter can be downloaded here. In Q1, US equities markets surged to new all-time highs, supported by a robust US economy. The fund’s Investor Class APFWX, Advisor Class APDWX, and Institutional Class APHWX returned 4.87%, 4.87%, and 4.98% respectively, in the quarter compared to a 10.56% return for the S&P 500 Index. The portfolio delivered a good total return in Q1 comprised of premium income and substantial capital appreciation, in line with the firm’s total return expectations. In addition, you can check the top 5 holdings of the strategy to know its best picks in 2024.
Artisan Value Income Fund highlighted stocks like Universal Health Realty Income Trust (NYSE:UHT), in the first quarter 2024 investor letter. Universal Health Realty Income Trust (NYSE:UHT) is a real estate investment trust specializing in healthcare and human service-related facilities. Universal Health Realty Income Trust’s (NYSE:UHT) one-month return was 2.31%, and its shares lost 21.79% of their value over the last 52 weeks. On June 5, 2024, Universal Health Realty Income Trust (NYSE:UHT) stock closed at $38.24 per share with a market capitalization of $529.087 million.
Artisan Value Income Fund stated the following regarding Universal Health Realty Income Trust (NYSE:UHT) in its first quarter 2024 investor letter:
“Our bottom contributors were Cable One, Philips and Universal Health Realty Income Trust (NYSE:UHT). Universal Realty Income Trust (UHT) is a health care REIT (real estate investment trust) specializing in health care facilities, including acute care hospitals, behavioral health centers and medical office buildings. Our initial purchase was in June 2023. Like other high income producing stocks, UHT has been out of favor given higher interest rates. Besides the stock selling at low levels relative to its historical valuation and other REITs, we liked UHT’s track record of execution, low leverage, reduced cyclicality and consistent annual dividend growth. It currently yields nearly 8%. Recent results have been strong, with revenue growth up over 5% driven by annual lease price escalators, a better mix of assets, increased occupancy and M&A. However, UHT was down in Q1 along with the broader real estate sector as interest-rate sensitive areas badly lagged the rest of the market.”
Aerial view of a healthcare facility, depicting the scale of the company’s operations.
Universal Health Realty Income Trust (NYSE:UHT) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 8 hedge fund portfolios held Universal Health Realty Income Trust (NYSE:UHT) at the end of the first quarter which was 2 in the previous quarter. While we acknowledge the potential of Universal Health Realty Income Trust (NYSE:UHT) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Universal Health Realty Income Trust (NYSE:UHT) and shared best high-yield dividend growth stocks to buy. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
