On Wednesday, Shares of Physicians Realty Trust (NYSE: DOC) inclined 1.64% to $17.94. The stock grabbed the investor’s attention and traded 1,108,297 shares as compared to its average daily volume of 1.36M shares. The stock’s institutional ownership stands at 96.70%.
Physicians Realty Trust (DOC), a self-managed healthcare real estate investment trust, recently declared results for the fourth quarter ended December 31, 2018.
Fourth Quarter Financial Results:
Total revenue for the fourth quarter ended December 31, 2018 was $105.30M, a boost of 8% from the same period in 2017. As of December 31, 2018, the portfolio was 95.7% leased.
Total expenses for the fourth quarter 2018 were $94.20M, a boost of 7% from the same period in 2017. The increase in expenses was mainly the result of a $5.00M increase in operating expenses, a $3.20M increase in depreciation and amortization, and a $2.50M increase in interest expense.
Net income for the fourth quarter 2018 increased to $11.20M, contrast to net income of $10.20M for the fourth quarter 2017, a boost of 10%.
Net income attributable to common shareholders for the fourth quarter 2018 was $10.50M. Diluted earnings per share for the fourth quarter 2018 were $0.06 based on 187.80M weighted average common shares and operating partnership units (“OP Units”) outstanding.
Funds from operations (FFO) for the fourth quarter 2018 consisted of net income, plus $39.30M of depreciation and amortization, less $0.50M of other adjustments, resulting in $0.27 per share and OP unit on a fully diluted basis. Normalized FFO, which adjusts for net changes in fair value, was $49.90M, or $0.27 per share and OP unit on a fully diluted basis.
The Company anticipates G&A expenses to be between $31.0M and $33.0M for the year ended December 31, 2019. During 2019, the Company anticipates to close between $200.0M and $400.0M of off-market real estate investments at cap rates of 5.50% to 6.25%.
DOC has a market value of $3.27B while its EPS was booked as $0.29 in the last 12 months. The stock has 182.37M shares outstanding. In the profitability analysis, the company has gross profit margin of 71.00% while net profit margin was 13.00%. Beta value of the company was 0.58; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 2.20.