Physicians Realty Trust: 2Q Earnings Snapshot
MILWAUKEE (AP) _ Physicians Realty Trust (DOC) on Thursday reported a key measure of profitability in its second quarter. The results matched Wall Street expectations.
The real estate investment trust, based in Milwaukee, said it had funds from operations of $51.9 million, or 28 cents per share, in the period.
The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of 28 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 $11.3 million, or 6 cents per share.
The health care real estate investment trust posted revenue of $107 million in the period, exceeding Street forecasts. Seven analysts surveyed by Zacks expected $104.4 million.
The company’s shares have dropped 12 percent since the beginning of the year. The stock has declined 14 percent in the last 12 months.