Physicians Realty Trust: 3Q Earnings Snapshot
MILWAUKEE (AP) _ Physicians Realty Trust (DOC) on Wednesday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.
The real estate investment trust, based in Milwaukee, said it had funds from operations of $51.2 million, or 27 cents per share, in the period.
The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of 26 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $14.7 million, or 8 cents per share.
The health care real estate investment trust posted revenue of $107.6 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $104.1 million.
The company’s shares have climbed 11% since the beginning of the year. The stock has climbed 8% in the last 12 months.