Physicians Realty Trust
Market Cap
US$3.6b
Last Updated
2020/09/20 06:07 UTC
Data Sources
Company Financials +
Executive Summary
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. More Details
Rewards
Risk Analysis
+ 1 more risk
Snowflake Analysis
Proven track record average dividend payer.
Similar Companies
Share Price & News
How has Physicians Realty Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: DOC has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-3.6%
DOC
-0.4%
US REITs
0.08%
US Market
1 Year Return
0.1%
DOC
-13.7%
US REITs
12.8%
US Market
Return vs Industry: DOC exceeded the US REITs industry which returned -13.8% over the past year.
Return vs Market: DOC underperformed the US Market which returned 12.6% over the past year.
Shareholder returns
| DOC | Industry | Market | |
|---|---|---|---|
| 7 Day | -3.6% | -0.4% | 0.08% |
| 30 Day | -2.1% | -1.4% | -1.8% |
| 90 Day | -3.0% | 0.09% | 7.2% |
| 1 Year | 5.8%0.1% | -10.2%-13.7% | 15.3%12.8% |
| 3 Year | 14.3%-3.2% | 13.5%-0.004% | 39.2%29.9% |
| 5 Year | 48.6%14.5% | 46.6%17.3% | 88.3%67.1% |
Price Volatility Vs. Market
How volatile is Physicians Realty Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Shareholders Of Physicians Realty Trust (NYSE:DOC) Must Be Happy With Their 62% Return1 month ago | Simply Wall St
Have Physicians Realty Trust (NYSE:DOC) Insiders Been Selling Their Stock?1 month ago | Simply Wall St
Physicians Realty Trust's (NYSE:DOC) Stock Is Going Strong: Have Financials A Role To Play?Valuation
Is Physicians Realty Trust undervalued compared to its fair value and its price relative to the market?
39.2%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: DOC ($17.49) is trading below our estimate of fair value ($28.76)
Significantly Below Fair Value: DOC is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: DOC is poor value based on its PE Ratio (38.8x) compared to the US REITs industry average (33.7x).
PE vs Market: DOC is poor value based on its PE Ratio (38.8x) compared to the US market (18.2x).
Price to Earnings Growth Ratio
PEG Ratio: DOC is poor value based on its PEG Ratio (4x)
Price to Book Ratio
PB vs Industry: DOC is good value based on its PB Ratio (1.4x) compared to the US REITs industry average (1.5x).
Next Steps
Future Growth
How is Physicians Realty Trust forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?
9.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: DOC's forecast earnings growth (9.7% per year) is above the savings rate (2.2%).
Earnings vs Market: DOC's earnings (9.7% per year) are forecast to grow slower than the US market (23.2% per year).
High Growth Earnings: DOC's earnings are forecast to grow, but not significantly.
Revenue vs Market: DOC's revenue (7.9% per year) is forecast to grow slower than the US market (9.7% per year).
High Growth Revenue: DOC's revenue (7.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: DOC's Return on Equity is forecast to be low in 3 years time (3.5%).
Next Steps
Past Performance
How has Physicians Realty Trust performed over the past 5 years?
36.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: DOC has a large one-off gain of $28.3M impacting its June 30 2020 financial results.
Growing Profit Margin: DOC's current net profit margins (20.3%) are higher than last year (12.4%).
Past Earnings Growth Analysis
Earnings Trend: DOC's earnings have grown significantly by 36% per year over the past 5 years.
Accelerating Growth: DOC's earnings growth over the past year (73%) exceeds its 5-year average (36% per year).
Earnings vs Industry: DOC earnings growth over the past year (73%) exceeded the REITs industry 3.3%.
Return on Equity
High ROE: DOC's Return on Equity (3.3%) is considered low.
Next Steps
Financial Health
How is Physicians Realty Trust's financial position?
Financial Position Analysis
Short Term Liabilities: DOC's short term assets ($122.8M) exceed its short term liabilities ($105.5M).
Long Term Liabilities: DOC's short term assets ($122.8M) do not cover its long term liabilities ($1.5B).
Debt to Equity History and Analysis
Debt Level: DOC's debt to equity ratio (48.6%) is considered high.
Reducing Debt: DOC's debt to equity ratio has increased from 33.1% to 48.6% over the past 5 years.
Debt Coverage: DOC's debt is not well covered by operating cash flow (15.8%).
Interest Coverage: DOC's interest payments on its debt are not well covered by EBIT (2x coverage).
Balance Sheet
Next Steps
Dividend
What is Physicians Realty Trust current dividend yield, its reliability and sustainability?
5.26%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: DOC's dividend (5.26%) is higher than the bottom 25% of dividend payers in the US market (1.66%).
High Dividend: DOC's dividend (5.26%) is in the top 25% of dividend payers in the US market (4.7%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, DOC has been paying a dividend for less than 10 years.
Growing Dividend: DOC's dividend payments have increased, but the company has only paid a dividend for 7 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (83.2%), DOC's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: DOC's dividends in 3 years are forecast to be covered by earnings (83.1% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
5.6yrs
Average management tenure
CEO
John Thomas (54 yo)
7.67yrs
Tenure
US$4,963,178
Compensation
Mr. John T. Thomas is Physicians Realty Trust’s President and Chief Executive Officer and also serves on its Board. Mr. Thomas has been an Executive Officer and Trustee of Physicians Realty Trust since Apr ...
CEO Compensation Analysis
Compensation vs Market: John's total compensation ($USD4.96M) is about average for companies of similar size in the US market ($USD5.65M).
Compensation vs Earnings: John's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 7.67yrs | US$4.96m | 0.16% $ 5.8m | |
| Executive VP | 6.17yrs | US$2.50m | 0.072% $ 2.6m | |
| Executive VP & Chief Investment Officer | 3.67yrs | US$2.53m | 0.069% $ 2.5m | |
| Senior VP & General Counsel | 5.58yrs | US$1.48m | 0.032% $ 1.1m | |
| Executive Vice President of Asset Management | 7.17yrs | US$2.02m | 0.047% $ 1.7m | |
| Chief Accounting & Administrative Officer | 3.83yrs | US$1.18m | 0.045% $ 1.6m | |
| Senior VP of Investments & Deputy Chief Investment Officer | 3.67yrs | US$1.35m | 0.021% $ 765.9k | |
| Senior VP & Controller | no data | no data | 0.010% $ 371.3k |
5.6yrs
Average Tenure
54.5yo
Average Age
Experienced Management: DOC's management team is seasoned and experienced (5.6 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 7.67yrs | US$4.96m | 0.16% $ 5.8m | |
| Independent Trustee | 7.08yrs | US$187.75k | 0.034% $ 1.2m | |
| Independent Trustee | 7.17yrs | US$187.75k | 0.021% $ 775.3k | |
| Independent Non-Executive Chairman of the Board | 7.17yrs | US$286.62k | 0.055% $ 2.0m | |
| Independent Trustee | 2.67yrs | US$163.11k | 0.0046% $ 167.3k | |
| Independent Trustee | 7.17yrs | US$207.75k | 0.020% $ 723.7k | |
| Independent Trustee | 7.08yrs | US$167.75k | 0.020% $ 709.9k | |
| Independent Trustee | 7.17yrs | US$187.75k | 0.021% $ 747.3k |
7.2yrs
Average Tenure
65.5yo
Average Age
Experienced Board: DOC's board of directors are considered experienced (7.2 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: DOC insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 8.8%.
Top Shareholders
Company Information
Physicians Realty Trust's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Physicians Realty Trust
- Ticker: DOC
- Exchange: NYSE
- Founded: 2013
- Industry: Health Care REITs
- Sector: Real Estate
- Market Cap: US$3.637b
- Shares outstanding: 207.93m
- Website: https://www.docreit.com
Number of Employees
Location
- Physicians Realty Trust
- 309 North Water Street
- Suite 500
- Milwaukee
- Wisconsin
- 53202
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| DOC | NYSE (New York Stock Exchange) | Yes | Common Shares | US | USD | Jul 2013 |
| 42O | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Jul 2013 |
Biography
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 healthc ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/09/20 06:07 |
| End of Day Share Price | 2020/09/18 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.