Physicians Realty Trust (NYSE:DOC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The brokerage presently has a $21.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 9.72% from the stock’s previous close.
According to Zacks, “Physicians Realty Trust is a REIT. It is a self-managed healthcare real estate company engaged in acquiring, developing, owning and managing healthcare properties that are leased to physicians, hospitals and healthcare delivery systems. The Company’s principal investments will include medical office buildings, outpatient treatment facilities, acute and post-acute care hospitals, as well as other real estate integral to healthcare providers. Physicians Realty Trust is based in Milwaukee, Wisconsin. “
Several other research firms also recently commented on DOC. Berenberg Bank began coverage on shares of Physicians Realty Trust in a research note on Thursday, September 12th. They issued a “hold” rating and a $18.00 price target on the stock. Morgan Stanley cut their price objective on shares of Physicians Realty Trust from $19.00 to $17.50 and set an “equal weight” rating for the company in a report on Tuesday, September 17th. B. Riley restated a “buy” rating on shares of Physicians Realty Trust in a research report on Friday, November 8th. TheStreet upgraded shares of Physicians Realty Trust from a “c+” rating to a “b-” rating in a research report on Friday, November 8th. Finally, Bank of America assumed coverage on shares of Physicians Realty Trust in a report on Monday, October 14th. They set a “neutral” rating on the stock. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $18.89.
NYSE:DOC opened at $19.14 on Wednesday. The stock has a 50 day simple moving average of $18.44 and a 200 day simple moving average of $17.83. The stock has a market cap of $3.54 billion, a P/E ratio of 17.72, a PEG ratio of 15.25 and a beta of 0.41. Physicians Realty Trust has a 1-year low of $15.18 and a 1-year high of $19.34. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66.
Physicians Realty Trust (NYSE:DOC) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.18). Physicians Realty Trust had a net margin of 10.61% and a return on equity of 1.79%. The firm had revenue of $107.59 million during the quarter, compared to analyst estimates of $105.01 million. During the same period in the prior year, the company earned $0.28 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Physicians Realty Trust will post 1 EPS for the current year.
In other news, CFO Jeffrey Theiler acquired 4,150 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $18.19 per share, with a total value of $75,488.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John T. Thomas sold 5,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $17.55, for a total transaction of $87,750.00. Following the sale, the chief executive officer now owns 300,259 shares in the company, valued at $5,269,545.45. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 7,603 shares of company stock worth $137,576 and sold 15,000 shares worth $275,850. 0.62% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System increased its stake in Physicians Realty Trust by 77.0% in the third quarter. California Public Employees Retirement System now owns 385,435 shares of the real estate investment trust’s stock valued at $6,841,000 after acquiring an additional 167,639 shares during the last quarter. Systematic Financial Management LP boosted its stake in shares of Physicians Realty Trust by 2.8% in the 3rd quarter. Systematic Financial Management LP now owns 1,083,572 shares of the real estate investment trust’s stock valued at $19,233,000 after purchasing an additional 29,724 shares in the last quarter. Marshall Wace LLP bought a new position in Physicians Realty Trust in the 2nd quarter valued at approximately $3,075,000. Rhumbline Advisers lifted its stake in shares of Physicians Realty Trust by 9.1% in the 3rd quarter. Rhumbline Advisers now owns 324,872 shares of the real estate investment trust’s stock valued at $5,766,000 after acquiring an additional 27,164 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in shares of Physicians Realty Trust by 43.1% during the third quarter. Voya Investment Management LLC now owns 1,155,916 shares of the real estate investment trust’s stock valued at $20,517,000 after purchasing an additional 348,120 shares in the last quarter. 90.68% of the stock is currently owned by hedge funds and other institutional investors.
About Physicians Realty Trust
Physicians Realty Trust is a self-managed healthcare real estate company organized to acquire, selectively develop, own and manage healthcare properties that are leased to physicians, hospitals and healthcare delivery systems. The Company invests in real estate that is integral to providing high quality healthcare.
Further Reading: What is a Real Estate Investment Trust (REIT)?
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