Physicians Realty Trust Management

Management criteria checks 3/4

Physicians Realty Trust's CEO is John Thomas, appointed in Apr 2013, has a tenure of 10.92 years. total yearly compensation is $4.81M, comprised of 20.8% salary and 79.2% bonuses, including company stock and options. directly owns 0.35% of the company’s shares, worth €9.73M. The average tenure of the management team and the board of directors is 8.3 years and 10.7 years respectively.

Key information

John Thomas

Chief executive officer

US$4.8m

Total compensation

CEO salary percentage	20.8%
CEO tenure	10.9yrs
CEO ownership	0.3%
Management average tenure	8.3yrs
Board average tenure	10.7yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has John Thomas's remuneration changed compared to Physicians Realty Trust's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	US$5m	US$1m	US$42m
Sep 30 2023	n/a	n/a	US$47m
Jun 30 2023	n/a	n/a	US$97m
Mar 31 2023	n/a	n/a	US$101m
Dec 31 2022	US$5m	US$944k	US$104m
Sep 30 2022	n/a	n/a	US$120m
Jun 30 2022	n/a	n/a	US$79m
Mar 31 2022	n/a	n/a	US$80m
Dec 31 2021	US$5m	US$924k	US$84m
Sep 30 2021	n/a	n/a	US$74m
Jun 30 2021	n/a	n/a	US$69m
Mar 31 2021	n/a	n/a	US$68m
Dec 31 2020	US$10m	US$909k	US$65m
Sep 30 2020	n/a	n/a	US$88m
Jun 30 2020	n/a	n/a	US$87m
Mar 31 2020	n/a	n/a	US$77m
Dec 31 2019	US$5m	US$874k	US$73m
Sep 30 2019	n/a	n/a	US$43m
Jun 30 2019	n/a	n/a	US$51m
Mar 31 2019	n/a	n/a	US$55m
Dec 31 2018	US$4m	US$800k	US$55m
Sep 30 2018	n/a	n/a	US$54m
Jun 30 2018	n/a	n/a	US$43m
Mar 31 2018	n/a	n/a	US$42m
Dec 31 2017	US$4m	US$800k	US$37m

Compensation vs Market: John's total compensation ($USD4.81M) is above average for companies of similar size in the German market ($USD2.56M).

Compensation vs Earnings: John's compensation has been consistent with company performance over the past year.

CEO

John Thomas (57 yo)

10.9yrs

Tenure

US$4,807,847

Compensation

Mr. John T. Thomas is President, Chief Executive Officer and Trustee of Physicians Realty Trust since April 2013. Mr. Thomas was the Executive Vice President-Medical Facilities Group for Welltower Inc. (fo...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
John Thomas	President	10.9yrs	US$4.81m	0.35% $ 9.7m
Jeffrey Theiler	Executive VP	9.7yrs	US$2.57m	0.16% $ 4.4m
Del Mar Taylor	Executive VP & Chief Investment Officer	7.2yrs	US$2.45m	0.083% $ 2.3m
John Lucey	Chief Accounting & Administrative Officer	7.8yrs	US$1.60m	0.086% $ 2.4m
Mark Theine	Executive Vice President of Asset Management	10.7yrs	US$2.21m	0.11% $ 3.1m
Bradley Page	Senior VP & General Counsel	9.1yrs	US$1.56m	0.070% $ 1.9m
Daniel Klein	Senior VP & Deputy Chief Investment Officer	7.2yrs	US$1.35m	0.061% $ 1.7m
W. Dukes	Senior Vice President of Asset Management	2.1yrs	no data	0.015% $ 426.5k
Amy Hall	Senior Vice President of Leasing & Physician Strategy	3.2yrs	no data	0.021% $ 591.3k
Laurie Becker	Senior VP & Controller	8.8yrs	no data	0.030% $ 844.7k

8.3yrs

Average Tenure

57.5yo

Average Age

Experienced Management: 42O's management team is seasoned and experienced (8.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
John Thomas	President	10.9yrs	US$4.81m	0.35% $ 9.7m
Albert Black	Independent Trustee	10.7yrs	US$231.44k	0.056% $ 1.6m
Stanton Anderson	Independent Trustee	10.7yrs	US$203.44k	0.029% $ 817.1k
Thomas Thompson	Independent Non-Executive Chairman & Lead Trustee	10.7yrs	US$287.23k	0.068% $ 1.9m
Pamela Shelley-Kessler	Independent Trustee	6.2yrs	US$194.15k	0% $ 0
Mark Baumgartner	Independent Trustee	10.7yrs	US$223.44k	0% $ 0
Ava Lias-Booker	Independent Trustee	2yrs	US$182.37k	0% $ 0
William Ebinger	Independent Trustee	10.7yrs	US$183.44k	0% $ 0
Richard Weiss	Independent Trustee	10.7yrs	US$203.44k	0% $ 0

10.7yrs

Average Tenure

68yo

Average Age

Experienced Board: 42O's board of directors are seasoned and experienced ( 10.7 years average tenure).

Physicians Realty Trust Management

Management criteria checks 3/4

Key information

Recent management updates

Senior VP & Controller recently sold €282k worth of stock

Insufficient new directors

Senior VP & General Counsel recently sold €77k worth of stock

Insufficient new directors

Executive VP recently bought €135k worth of stock

Physicians Realty Trust Appoints Ava E. Lias-Booker to Board, Effective March 1, 2022

Recent updates

Physicians Realty Trust Files Form 15

Healthpeak Properties, Inc. (NYSE:PEAK) completed the acquisition of Physicians Realty Trust (NYSE:DOC) from BlackRock, Inc. (NYSE:BLK), The Vanguard Group, Inc., State Street Corporation (NYSE:STT) and others.

Full year 2023 earnings released: EPS: US$0.18 (vs US$0.46 in FY 2022)

New minor risk - Shareholder dilution

Upcoming dividend of US$0.23 per share at 7.0% yield

Physicians Realty Trust Declares Quarterly Cash Dividend for the Fourth Quarter Ending December 31, 2023, Payable on January 18, 2024

New minor risk - Shareholder dilution

Healthpeak Properties, Inc. (NYSE:PEAK) entered into a definitive agreement to acquire Physicians Realty Trust (NYSE:DOC) for approximately $2.7 billion in a merger of equals transaction.

Healthpeak Properties, Inc. (NYSE:PEAK) entered into a definitive agreement to acquire Physicians Realty Trust (NYSE:DOC) for approximately $2.7 billion in a merger of equals transaction.

Third quarter 2023 earnings released: EPS: US$0.052 (vs US$0.28 in 3Q 2022)

Upcoming dividend of US$0.23 per share at 7.5% yield

Physicians Realty Trust to Report Q3, 2023 Results on Nov 03, 2023

Senior VP & Controller recently sold €282k worth of stock

New minor risk - Shareholder dilution

Physicians Realty Trust (NYSE:DOC) acquired Emory Dunwoody Ambulatory Surgical Center for $5.3 million.

Second quarter 2023 earnings released: EPS: US$0.053 (vs US$0.075 in 2Q 2022)

Upcoming dividend of US$0.23 per share at 6.8% yield

Physicians Realty Trust to Report Q2, 2023 Results on Aug 03, 2023

First quarter 2023 earnings released: EPS: US$0.043 (vs US$0.058 in 1Q 2022)

Full year 2022 earnings released: EPS: US$0.46 (vs US$0.39 in FY 2021)

Now 21% undervalued after recent price drop

Now 21% undervalued after recent price drop

Upcoming dividend of US$0.23 per share

Physicians Realty Trust to Report Q4, 2022 Results on Feb 22, 2023

Insufficient new directors

Third quarter 2022 earnings released: FFO per share: US$0.3 (vs US$0.27 in 3Q 2021)

Physicians Realty Trust Declares Quarterly Cash Dividend, Payable on October 14, 2022

Physicians Realty Trust (NYSE:DOC) and MedProperties Holdings, LLC acquired Calko Medical Center for $81.5 million.

Senior VP & General Counsel recently sold €77k worth of stock

Second quarter 2022 earnings released: FFO per share: US$0.3 (vs US$0.28 in 2Q 2021)

An unknown buyer acquired Three related facilities in Great Falls, Montana from Physicians Realty Trust (NYSE:DOC) for approximately $120 million.

Upcoming dividend of US$0.23 per share

Physicians Realty Trust Declares Quarterly Cash Dividend for the Quarter Ending June 30, 2022, Payable on July 19, 2022

First quarter 2022 earnings released: EPS: US$0.058 (vs US$0.082 in 1Q 2021)

Insufficient new directors

Upcoming dividend of US$0.23 per share

Executive VP recently bought €135k worth of stock

Physicians Realty Trust Appoints Ava E. Lias-Booker to Board, Effective March 1, 2022

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

An unknown buyer acquired Northern Vision Eye Center from Physicians Realty Trust (NYSE:DOC) for $2 million.

Upcoming dividend of US$0.23 per share

Third quarter 2021 earnings released: EPS US$0.098 (vs US$0.075 in 3Q 2020)

Physicians Realty Trust (NYSE:DOC) acquired Brookstone Physician Centre Located in Jacksonville, Alabama for $2.6 million.

Second quarter 2021 earnings released: EPS US$0.084 (vs US$0.086 in 2Q 2020)

Upcoming dividend of US$0.23 per share

An unknown buyer acquired One Medical Office Building Located in Michigan from Physicians Realty Trust (NYSE:DOC) for approximately $0.5 million.

First quarter 2021 earnings released: FFO US$0.28 per share (vs US$0.28 in 1Q 2020)

Physicians Realty Trust (NYSE:DOC) acquired a medical condominium unit in Atlanta for approximately $0.9 million on April 7, 2021.

Physicians Realty Trust Declares Quarterly Cash Dividend, Payable on April 16, 2021

Physicians Realty Trust to Report Q1, 2021 Results on May 05, 2021

Full year 2020 earnings released: EPS US$0.32 (vs US$0.39 in FY 2019)

Revenue beats expectations

Physicians Realty Trust Promotes Amy M. Hall to Senior Vice President

Physicians Realty Trust(NYSE:DOC) dropped from Russell 2000 Dynamic Index

New 90-day low: €13.50

Upcoming Dividend of US$0.23 Per Share

Physicians Realty Trust to Report Q4, 2020 Results on Feb 25, 2021

Revenue beats expectations

Third quarter 2020 earnings released: EPS US$0.075

Physicians Realty Trust (NYSE:DOC) acquired Ascension St. Vincent Cancer Center for $21.1 million.

New 90-day low: €14.10

New 90-day low: €14.20

Physicians Realty Trust to Report Q3, 2020 Results on Nov 06, 2020

New 90-day low - €14.40

Executive VP recently sold €414.7k worth of stock

Earnings released

Physicians Realty Trust (NYSE:DOC) acquired Medical Office Facility in Westerville, Ohio for $10.7 million.

CEO Compensation Analysis

CEO