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Physicians Realty Trust(DOC) - 2022 Q4 - Annual Report
2023-02-24 13:37
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-36007 PHYSICIANS REALTY TRUST (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organization ...
Physicians Realty Trust(DOC) - 2022 Q4 - Earnings Call Transcript
2023-02-22 16:20
Company Participants John Thomas - Chief Executive Officer Mark Theine - Executive Vice President, Asset Management Michael Carroll - RBC Steven Valiquette - Barclays Operator It is now my pleasure to introduce your host, Brad Page. Thank you, Mr. Page. You may begin. During this call, John Thomas will provide a summary of the company's activities and performance for the fourth quarter of 2022 and year-to-date performance in 2023, as well as our strategic focus for the remainder of 2023. Jeff Theiler will r ...
Physicians Realty Trust(DOC) - 2022 Q3 - Quarterly Report
2022-11-04 13:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |------------------------------------------------------------------|------------------------------------------| | | | | | | | | | | | | | Maryland | 46-2519850 | | (State of Organiza ...
Physicians Realty Trust(DOC) - 2022 Q3 - Earnings Call Transcript
2022-11-02 19:17
Healthpeak Properties, Inc. (PEAK) Q3 2022 Earnings Conference Call November 2, 2022 11:00 AM ET Company Participants Andrew Johns - SVP, IR Scott Brinker - CEO, President & Director Peter Scott - CFO Scott Bohn - Chief Development Officer & Co-Head, Life Science Thomas Klaritch - COO Conference Call Participants Austin Wurschmidt - KeyBanc Capital Markets Stephen Sakwa - Evercore ISI Juan Sanabria - BMO Capital Markets Steven Valiquette - Barclays Bank Michael Griffin - Citi Ronald Kamdem - Morgan Stanley ...
Physicians Realty Trust(DOC) - 2022 Q2 - Quarterly Report
2022-08-05 12:21
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such sh ...
Physicians Realty Trust(DOC) - 2022 Q2 - Earnings Call Transcript
2022-08-03 21:03
Financial Data and Key Metrics Changes - For Q2 2022, the company reported FFO as adjusted of $0.44 per share and total portfolio same-store growth of 3.7% [35] - The company reaffirmed its FFO as adjusted guidance of $1.68 to $1.74 per share, with an increase in medical office same-store guidance by 75 basis points to 3% at the midpoint [41] - The balance sheet showed a net debt-to-EBITDA ratio of 5.1 times and $2 billion of liquidity [36] Business Line Data and Key Metrics Changes - Life science occupancy finished the quarter at 99%, with same-store growth at 4.3% and cash mark-to-market on renewals positive at 28% [15][35] - Medical office same-store NOI grew 4.5%, with leasing activity ahead of budget, signing 1.6 million square feet of leases year-to-date [26] - CCRC entry fee cash receipts were up 30% year-over-year, with RevPAR increasing by 6% [28] Market Data and Key Metrics Changes - In South San Francisco, market rents are estimated to be up low to mid-single digits year-to-date, with 2.5 million square feet of current demand [24] - Boston has the highest gross demand but also the highest new supply, with purpose-built new supply about 90% pre-leased [50] - San Diego rents are up low single digits, with active demand at 1.3 million feet [25] Company Strategy and Development Direction - The company announced a $500 million stock repurchase program, believing the current share price does not reflect the inherent value of its portfolios [13] - A new life science joint venture was formed with a leading sovereign wealth fund for redevelopment properties, allowing the company to accelerate development [11][12] - The company is focused on maintaining a strong balance sheet while pursuing growth opportunities in life sciences and medical offices [99] Management's Comments on Operating Environment and Future Outlook - Management noted that the demand for scientific innovation remains strong despite economic cycles, with biotech capital raising still occurring at healthy levels [24] - The risk of new supply has significantly declined due to higher development costs and interest rates, making new starts unattractive for levered developers [22] - Management expressed confidence in the portfolio's performance, with collections remaining at 99% and a highly pre-leased development pipeline [56] Other Important Information - The company published its 11th annual ESG report, highlighting achievements and outlining ambitious goals [14] - The company exited three non-core MOBs for $26 million, recycling proceeds into a core acquisition [30] Q&A Session Summary Question: Focus on life science demand and market strength - Demand remains strong historically, with Boston having high demand but also high new supply, while San Diego and South San Francisco show similar trends [44][45] Question: Tenant health and funding for biotech companies - The watch list has not grown, with collections at 99% and several companies raising funds recently [55][56] Question: CCRC portfolio and its fit within the overall strategy - CCRCs represent about 10% of the company, providing high-quality cash flows with no new supply expected [60] Question: Guidance for entrance fees and impact of higher interest rates - Entry fee cash receipts were strong, and the company remains optimistic about ongoing demand despite potential housing market slowdowns [66] Question: Medical office portfolio and expense initiatives - The company is focusing on technology investments to lower utility expenses and has seen improvements in expense recovery rates [70][71] Question: Joint venture strategy and impact on leverage - The joint venture allows for shared funding and risk, with no impact on leverage as the company plans to fund buybacks through less core asset sales [99]
Physicians Realty Trust(DOC) - 2022 Q1 - Quarterly Report
2022-05-05 12:54
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such s ...
Physicians Realty Trust(DOC) - 2022 Q1 - Earnings Call Transcript
2022-05-04 17:34
Healthpeak Properties, Inc. (PEAK) Q1 2022 Earnings Conference Call May 4, 2022 11:00 AM ET Company Participants Andrew Johns - Senior Vice President, Investor Relations Tom Herzog - Chief Executive Officer Scott Brinker - President & Chief Investment Officer Pete Scott - Chief Financial Officer Tom Klaritch - Chief Operating Officer Mike Dorris - Senior Vice President, Co-Head of Life Science Conference Call Participants Michael Griffin - Citi Austin Wurschmidt - KeyBanc Michael Carroll - RBC Capital Marke ...
Physicians Realty Trust(DOC) - 2021 Q4 - Annual Report
2022-02-24 13:48
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-36007 | --- | --- | --- | --- | |------------------------------------------------------------|---------------------------------------------------- ...
Physicians Realty Trust(DOC) - 2021 Q4 - Earnings Call Transcript
2022-02-09 18:53
Healthpeak Properties, Inc. (PEAK) Q4 2021 Earnings Conference Call February 9, 2022 11:00 AM ET Company Participants Andrew Johns - Vice President Corporate Finance & Investor Relations Tom Herzog - Chief Executive Officer Scott Brinker - President & Chief Investment Officer Pete Scott - Chief Financial Officer Conference Call Participants Nick Yulico - Scotiabank Juan Sanabria - BMO Rich Hill - Morgan Stanley Nick Joseph - Citi Jordan Sadler - KeyBanc Michael Bilerman - Citi Rich Anderson - SMBC Steven Va ...