SA Transcripts • Wed, Nov. 12
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at Nasdaq.com (Dec 17, 2014)
at CNBC.com (Jul 19, 2013)
- Physicians Realty has returned 20.4% since I purchased shares in May 2014.
- DOC is trading at $15.45 and the shares are moving closer to my 2014 year-end projected target of $16.00.
- I see strong momentum to support the projected 30% growth rate in 2015.
- MLV’s research is spot-on and it’s great to see broader coverage in the “sharpshooting” health care sector.
- I sold out of MPW for a variety of reasons, including competition (with the hospital sector) and share under-performance.
- I support MLV’s price target of $16 as I believe that there is strong momentum to support the estimated 34% growth rate.
- I plan to maintain my current allocation and for new investors I would wait for a pullback.
4 Insiders Are Buying Physicians Realty Trust Stock
- Recently, 5 insiders bought a total of 10,500 shares at an average price of $13.20.
- Overall, 397,192 shares were bought and 0 shares were sold in the last twelve months.
- Together, insiders hold 1.21% of the shares outstanding.
Physicians Realty Trust: 4 Different Insiders Have Purchased Shares During The Last 30 Days
- 4 insiders purchased Physicians Realty Trust stock within one month.
- The stock was sold by no insiders in the month of intensive purchasing.
- 2 of these 4 insiders increased their holdings by more than 10%.
The Smallest Health Care REIT That Pays The Highest Dividend
- When it comes to health care investing, DOC is a like a “kid in a candy shop.”.
- DOC targets unleveraged investment returns between 7% and 10% and the company has in excess of $300 million of investment properties under review.
- DOC's current dividend yield is 6.72% - the highest yield in the Health Care sector.
- DOC’s IPO and secondary offering (in December) were oversubscribed by a significant amount and over 60% of the company’s shareholders are Institutional Investors.
Wed, Nov. 12, 8:46 AM
- Q3 normalized FFO of $7.175M or $0.17 per share. Normalized FAD of $6.985M or $0.17. Dividend is $0.225, but a full quarter of leasing of newly acquired properties would have narrowed or eliminated this spread.
- 16 properties added during quarter for $226.2M. Portfolio has grown to 64 properties, 2.5M square feet, and more than $700M. Portfolio is 95.4% leased as of end of quarter. Company expects acquisitions of $40M-$80M for remainder of 2014.
- Conference call at 10 ET
- Previously: Physicians Realty Trust misses by $0.03, beats on revenue
- DOC flat premarket
Wed, Nov. 12, 8:37 AM| Comment!
Wed, Oct. 1, 1:14 PM
- Announcing today the closing of seven deals for $114.1M, Physicians Realty Trust (DOC) tallies $226.2M in new investments this quarter, bringing the YTD total to $454.1M.
- The closed deals announced today include a portfolio of three medical facilities in El Paso and four properties in Ohio. The aggregate first year unlevered yield cash yield foots to about 7.4%.
- Source: Press Release
Fri, Sep. 26, 8:36 AM
Tue, Sep. 9, 8:52 AM
- The offering was upsized by 500K shares to 9.5M and priced at $14 each for net proceeds of roughly $126.3M. The underwriters can buy up to 1.425M additional shares at that price.
- DOC -3% premarket to $14.14.
- Press release
- Previously: Physicians Realty Trust announces secondary offering, acquisition activity
Mon, Sep. 8, 4:57 PM| Comment!
Wed, Aug. 13, 8:44 AM
- Normalized FFO of $5.2M or $0.17 per share. Normalized FAD of $4.9M or $0.16. Dividend of $0.225.
- Closed on eight deals during Q totaling 279K square feet for about $73.6M.
- The company expects another $150M-$300M of acquisitions for the remainder of this year.
- Conference call at 10 ET
- Previously: Physicians Realty Trust misses by $0.05, beats on revenue
- DOC flat premarket
Wed, Aug. 13, 8:35 AM| Comment!
Wed, Jul. 2, 4:07 PM
- The four unrelated deals total $44.9M, with an average first year unlevered cash yield of 7.8%. The purchases include a total of six buildings located in North Carolina, Wisconsin, and Indiana, and they increase the total value of DOC's portfolio to over $500M from $124M at the time of its IPO one year ago (the stock has gained 25% while paying a dividend in the 6-7% range).
- Source: Press release
Fri, Jun. 27, 12:25 PM
- LTC properties (LTC +0.2%) is started with a Buy rating and $42 PT, with analyst Paul Morgan noting the company's focus on memory care facilities amid expectations the number of Alzheimer's cases should grow by 40% over the next decade.
- AVIV REIT (AVIV) is rated Hold with $30 PT. The company is exposed to risk from higher rates due to its long-term triple-net leases.
- BioMed Realty Trust (BMR) is initiated at Hold with $23 PT, with Morgan saying the valuation reflects the near-term positives.
- Smaller player Sabra Health Care REIT (SBRA +1.1%) rates a Buy with $31 PT, with Morgan noting a $60M investment for this company gets the same bang-per-buck as a $1B deal does for the sector's big three. He also sees synergies across the senior care landscape.
- Physicians Realty Trust (DOC +0.3%) is started a Buy with $16 price target, with Morgan taking note of $344M in acquisitions of outpatient medical offices over the past year and another $200M coming in H2 of 2014.
Thu, Jun. 26, 4:27 PM
Tue, Jun. 24, 2:42 PM
- The senior secured revolving facility was previously $140M and DOC has the option to increase the capacity all the way to $250M.
- The stock continues a nice run, and is now up 25% since the IPO 11 months ago.
- CEO John Thomas: "Coupled with our recent capital raise, the increased credit line gives the Company increased flexibility to seek out high quality assets and increase our FFO as we work to provide shareholders with long-term value.”
- Press release
Mon, Jun. 2, 11:27 AM
- The team launches coverage today with Buys on American Realty Capital (ARCP -0.4%), Ashford Hospitality Prime (AHP +2%), and Physicians Realty Trust (DOC +0.7%).
- In one other REIT coverage initiation, Jefferies starts Brookdale Senior Living (BKD -0.4%) with a Buy and $40 price target. Last week, Fortress Investment sold another large chunk of its stake in the company.
Thu, Mar. 27, 5:03 PM
Thu, Feb. 27, 8:41 AM
Wed, Jan. 22, 8:06 AM
- "We expect DOC to outperform its health care REIT peers but perform in line with REITs overall," says analyst Karin Ford, starting Physicians Realty Trust at Hold (the team is underweight the healthcare REIT sector as a whole).
- As for DOC, management's relationships and focus on smaller deals has allowed the company to benefit from strong acquisition volumes and attractive pricing, while simultaneously improving portfolio quality. However, DOC's "bond-like leases" make the stock vulnerable to rising rates.
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