NYSE:DOC

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Physicians Realty Trust

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


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

-2.7%

US REITs

-1.5%

US Market


1 Year Return

0.1%

DOC

-13.8%

US REITs

12.9%

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

DOCIndustryMarket
7 Day-3.6%-2.7%-1.5%
30 Day-2.1%-1.4%-1.8%
90 Day-3.0%0.6%6.6%
1 Year5.8%0.1%-10.4%-13.8%15.4%12.9%
3 Year14.3%-3.2%12.9%-0.5%39.6%30.2%
5 Year48.6%14.5%49.1%19.6%93.4%71.7%

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

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

NamePositionTenureCompensationOwnership
John Thomas
President7.67yrsUS$4.96m0.16%
$ 5.8m
Jeffrey Theiler
Executive VP6.17yrsUS$2.50m0.072%
$ 2.6m
Del Mar Taylor
Executive VP & Chief Investment Officer3.67yrsUS$2.53m0.069%
$ 2.5m
Bradley Page
Senior VP & General Counsel5.58yrsUS$1.48m0.032%
$ 1.1m
Mark Theine
Executive Vice President of Asset Management7.17yrsUS$2.02m0.047%
$ 1.7m
John Lucey
Chief Accounting & Administrative Officer3.83yrsUS$1.18m0.045%
$ 1.6m
Daniel Klein
Senior VP of Investments & Deputy Chief Investment Officer3.67yrsUS$1.35m0.021%
$ 765.9k
Laurie Becker
Senior VP & Controllerno datano data0.010%
$ 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

NamePositionTenureCompensationOwnership
John Thomas
President7.67yrsUS$4.96m0.16%
$ 5.8m
Albert Black
Independent Trustee7.08yrsUS$187.75k0.034%
$ 1.2m
Stanton Anderson
Independent Trustee7.17yrsUS$187.75k0.021%
$ 775.3k
Thomas Thompson
Independent Non-Executive Chairman of the Board7.17yrsUS$286.62k0.055%
$ 2.0m
Pamela Shelley-Kessler
Independent Trustee2.67yrsUS$163.11k0.0046%
$ 167.3k
Mark Baumgartner
Independent Trustee7.17yrsUS$207.75k0.020%
$ 723.7k
William Ebinger
Independent Trustee7.08yrsUS$167.75k0.020%
$ 709.9k
Richard Weiss
Independent Trustee7.17yrsUS$187.75k0.021%
$ 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DOCNYSE (New York Stock Exchange)YesCommon SharesUSUSDJul 2013
42ODB (Deutsche Boerse AG)YesCommon SharesDEEURJul 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/20 06:07
End of Day Share Price2020/09/18 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.