Fri, Sep. 2, 8:00 AM
Thu, Aug. 25, 8:12 AM
- Now at BTIG from Cowen & Co., analyst James Sullivan starts coverage of Physicians Realty Trust (NYSE:DOC) with a Buy rating and $42 price target. Growing the portfolio to nearly $3B following the $130M IPO, management has earned a reputation as solid capital allocators in the medical office space. New deals should remain a core driver of the business, resulting in outsized earnings growth next year.
- STORE Capital (NYSE:STOR) is initiated at Buy with a $35 price target, with Sullivan taking note of the company's combination of the smallest portfolio, differentiated acquisition strategy, and management track record.
- A West Coast focus and management's ability to source new investments should deliver excess returns to investors, says Sullivan, starting Retail Opportunity (NASDAQ:ROIC) with a Buy and $25 price target.
- Kilroy Realty (NYSE:KRC) has upside from the below-market rents in its portfolio and an extension into life science real estate. He starts it at Buy with $80 price target.
- Terreno Realty (NYSE:TRNO), Corporate Office Properties (NYSE:OFC), Macerich (NYSE:MAC), Kimco (NYSE:KIM) remain Buys.
- A Buy at Cowen, Duke Realty (NYSE:DRE) is stared with just a Neutral at BTIG.
- Previously: BTIG launches REIT sector coverage (Aug. 25)
Wed, Aug. 3, 7:52 AM
Tue, Aug. 2, 5:30 PM
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Thu, Jun. 23, 4:08 PM
Wed, Jun. 22, 9:55 AM
- Healthcare Realty Trust (HR -1.3%) is cut to Underperform from Market Perform, and Physicians Realty Trust (DOC -1.5%) to Market Perform from Outperform at JMP Securities.
- The two have moved nearly in lockstep this year, with DOC up 18.6% and HR higher by 17.2%. On a year-over-year basis, HR is ahead 40% and DOC 26%.
Thu, May 5, 9:15 AM
- Q1 normalized FFO of $23.7M or $0.22 per share vs. $22.7M and $0.26 in Q4. The per share amount fell thanks to a 21.3M share secondary early in the quarter. There was another 25.9M share sale in Q2 around the $725M deal with Catholic Health Initiatives. This is on track to close this quarter in two or more tranches.
- Q1 investments of $202.3M, includes 16 healthcare facilities and two condos totaling 752K leasable square feet, and one mezzanine loan.
- Conference call at 2 ET
- Previously: Physicians Realty Trust misses by $0.01, beats on revenue (May 5)
- DOC flat premarket
Thu, May 5, 8:22 AM
Wed, Apr. 6, 8:23 AM
- The company sold 22.5M shares at a price of $17.85 each vs. the originally planned sale of 18M shares. Gross proceeds were $387.9M, and the underwriters have an option to buy another 3.375M shares at that price.
- The funds are to be used to help pay for the Catholic Health Initiatives acquisition.
- DOC -1.35% premarket to $18.21.
- Now read: Physicians Realty Has All The Healthy Ingredients To Sleep Well At Night
Tue, Apr. 5, 4:22 PM
- The company has agreed to purchase 52 medical office facilities from Catholic Health Initiatives for $724.9M. The properties total 3.16M square feet in ten states. The portfolio is 94.4% leased, with total year-one NOI of $43.5M.
- CHI is the fifth-largest non-profit healthcare system in the U.S.
- To help fund the deal, DOC is selling 18M shares of stock with an underwriter greenshoe of 2.7M shares.
- The stock's lower by 2.1% in very thin after hours trading.
- Now read: A Bottom-Up Analysis Of Physicians Realty
Fri, Mar. 18, 8:20 AM
- Physicians Realty Trust (NYSE:DOC) declares $0.225/share quarterly dividend, in line with previous.
- Forward yield 4.91%
- Payable April 18; for shareholders of record April 1; ex-div March 30.
Mon, Feb. 29, 9:11 AM
- Q4 normalized FFO of $22.723M or $0.26 per share vs. $11.162M and $0.22 one year ago. Normalized FAD per share of $0.24 vs. $0.20. Quarterly dividend is $0.225.
- $152.8M of investments in Q4 comprising 19 healthcare facilities totaling nearly 500K square feet, and three mezzanine loans. Boosted gross leaseable square footage by 9.3% to 5.8M square feet. Another $105.6M of investments closed since quarter's end.
- 2016 acquisition guidance of $750M-$1B.
- Conference call at 10 ET
- Previously: Physicians Realty Trust FFO in-line, beats on revenue (Feb. 29)
- DOC flat premarket
Mon, Feb. 29, 8:18 AM
- Physicians Realty Trust (NYSE:DOC): Q4 FFO of $0.26 in-line.
- Revenue of $40.4M (+105.2% Y/Y) beats by $1.2M.
Sun, Feb. 28, 5:30 PM
Tue, Feb. 9, 12:05 PM
- Healthcare facility owners are seeing steep losses after HCP (HCP -14.8%), Brookdale Senior Living (BKD -16%), and Medical Properties Trust (MPW -3.8%) issued soft 2016 guidance with their Q4 beats.
- HCP reported Q4 FFO/share of $0.80 (beat by $0.02), but guided for 2016 FFO/share of $2.74-$2.80 vs. a $3.16 consensus. Brookdale reported Q4 CFFO/share of $0.58 (beat by $0.12), but guided for 2016 CFFO of $2.45-$2.55 vs. a $2.62 consensus. MPW reported Q4 FFO/share of $0.35 (beat by $0.01), but guided for 2016 FFO/share of $1.29-$1.33 vs. a $1.33 consensus.
- In addition to HCP/Brookdale/MPW, the casualty list includes Omega Healthcare Investors (OHI -9.6%), Capital Senior Living (CSU -6.2%), Five Star Quality Care (FVE -7%), Welltower (HCN -9%), Genesis Healthcare (GEN -9.6%), , Sabra Health Care REIT (SBRA -6.3%), National Health Investors (NHI -4.6%), Ventas (VTR -5.9%), and Physicians Realty Trust (DOC -3.9%).
Sun, Jan. 31, 9:04 AM
- Investors don’t normally equate small-cap stocks with big dividends, but there are a growing number of cash-rich, mature small-cap companies that pay healthy dividends.
- Roger Vogel, head of the value equity group at Silvercrest Asset Management Group, says he's finding plenty of good dividend plays in small-caps.
- His picks include: Douglas Dynamics (NYSE:PLOW), Lancaster Colony (NASDAQ:LANC), Horace Mann Educators (NYSE:HMN), Physicians Realty Trust (NYSE:DOC), Knoll (NYSE:KNL), MSA Safety (NYSE:MSA), and G&K Services (NASDAQ:GK).
- "One cautionary note: Even though many small-cap companies have dividends, their growth is slowing, as is the case for payouts of larger companies. In a tougher economic environment, smaller companies have fewer shock absorbers than big firms."
- Source: Barron's