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Today, 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
Mon, Jan. 25, 4:20 PM
- The company upsized its secondary size to 21.275M shares (including the exercised greenshoe option) from 17M. The sale priced at $15.75 per share.
- DOC closed today at $16.76 vs. about $16.40 ahead of the offering announcement.
- Source: Press release
- Previously: Physicians Realty Trust raising capital (Jan. 19)
Wed, Jan. 20, 9:13 AM
Tue, Jan. 19, 4:29 PM
- Offering stock into a panicky market, Physicians Realty Trust (NYSE:DOC) launches a 17M share secondary offering. The underwriter greenshoe is for another 2.55M shares.
- DOC has held up better than some, down just about 3% (at today's close) for 2016. It's lower by another 2.6% after hours.
- Source: Press release
Fri, Jan. 8, 9:46 AM
- These income favorites are known for having had a tough time of it in 2015, in part thanks to worries about rising interest rates. MKM's Jonathan Krinsky, however, notes REITs have been relatively outperforming the S&P 500 for months and have just broken out to nine-month highs versus the broader market.
- Krinsky's a technician, so he's staying with the trend and recommending going long REITs (NYSEARCA:IYR) versus the S&P 500.
- Turning to individual REIT sectors and names, he's overweight apartments (AIV, AVB, ESS, EQR, MAA), UDR), storage (CUBE, EXR, PSA, SSS), and shopping malls (KIM, MAC, FRT, REG, IRM).
- He's equal weight data centers (buys: CONE, DCT, QTS, sells: EGP), diversified (buys: AMT, CCI, DLR, DRE, PSB, sells: EQIX, LPT, STAG, VNO, WY, WPC).
- He's underweight office property (buys: EQC, sells: HPP, FSP, GOV, KRC, OFC, PKY, SLG), hotels (sells: AHT, FCH, HPT, HST), mREITs (sells: ARR, STWD, RSO, buy: ABR), healthcare (sells: HCP, MPW, OHI, VTR, buys: DOC, HR, HTA)
Thu, Jan. 7, 4:42 PM
Mon, Jan. 4, 8:05 AM
Dec. 8, 2015, 12:51 PM
- Noting attractive growth prospects, an expectation of increased demand for medical office space from tenants, and strong investor demand for medical office buildings from investors, Stifel's Chad Vanacore initiates coverage of Physicians Realty Trust (DOC +1.8%) with a Buy and $20 price target, suggesting an upside of about 25%.
- He sees FFO per share of $1.09 next year, and FAD of $1.06, or 23.3% growth from 2015.
- "We believe the company is well positioned to grow faster than its peers given its strategy of investing in higher yielding MOBs and room to expand leverage." says Vanacore.
Nov. 23, 2015, 3:00 PM
- FBR Director of Research David Hilal and team started with 250 dividend stocks tracked by the company, then narrowed it to 25 to own in a rising rate environment, and then further trimmed the list to a favored ten.
- Among the requirements: A minimum yield of 3%, an extremely safe payout with the opportunity to go higher, and stable to improving fundamentals which might drive share price appreciation in addition to the dividend.
- The highest yielder of the group is New Residential (NYSE:NRZ) at more than a 15% yield. Analyst Jessica Levi-Ribner figures the stock deserves something closer to a 9% yield given its growing book value and clear outlook into earnings and the dividend (which has been on the rise).
- The lowest yielder on the list is James River Holdings (NASDAQ:JRVR) at just over a 2% yield, but that's not counting special dividends - FBR expects the yield is nearly 9% once those are factored in.
- The rest: Blackstone Mortgage Trust (NYSE:BXMT), Peak Resorts (NASDAQ:SKIS), Great Ajax (NYSE:AJX), Hospitality Properties (NYSE:HPT), Preferred Apartments (NYSE:APTS), Western Gas Partners (NYSE:WES), National CineMedia (NASDAQ:NCMI), Physicians Realty Trust (NYSE:DOC).
Nov. 6, 2015, 8:03 AM
- Physicians Realty Trust (NYSE:DOC): Q3 FFO of $0.26 in-line.
- Revenue of $34.9M (+146.5% Y/Y) beats by $1.32M.
Nov. 5, 2015, 5:30 PM
Oct. 14, 2015, 12:21 PM
- The secondary offering size was boosted to 13.75M shares from 12.5M, and priced at $15 each, for expected net proceeds of $196.7M. The underwriters have an option to buy another 2.062M shares at that price.
- DOC -3.9% to $15.17
- Previously: Physicians Realty details Q3 deal activity; launches secondary (Oct. 13)
Oct. 13, 2015, 4:14 PM
- The company closed $297M of purchases of medical office facilities in Q3, bringing 2015 buys to $688M. Another $91.5M of acquisitions are under agreement.
- The secondary offering is for 12.5M shares with an underwriter greenshoe for another 1.875M shares.
- DOC -1.5% after hours.
Oct. 8, 2015, 9:45 AM
- FBR launches coverage on Physicians Realty Trust (DOC +1.5%) and Sabra Health Care REIT (SBRA -0.7%) with Outperform ratings. The $18 price target on DOC is about 16% above last night's close, and the $28 PT on SBRA reflects the same percentage gain.
- The team also initiates coverage on Senior Housing Properties (SNH -0.5%), but it rates just a Market Perform. The $18 PT stands against the current price of $17.06.
Sep. 28, 2015, 5:02 PM
- Physicians Realty Trust (NYSE:DOC) declares $0.225/share quarterly dividend, in line with previous.
- Forward yield 6.02%
- Payable Oct. 30; for shareholders of record Oct. 16; ex-div Oct. 14.
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