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Physicians Realty Trust(DOC) - 2021 Q3 - Quarterly Report
2021-11-05 20:08
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, 2021 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 su ...
Physicians Realty Trust(DOC) - 2021 Q3 - Earnings Call Transcript
2021-11-03 19:33
Healthpeak Properties, Inc. (PEAK) Q3 2021 Earnings Conference Call November 3, 2021 11:00 AM ET Company Participants Tom Herzog – Chief Executive Officer Andrew Johns – Vice President Corporate Finance and Investor Relations Scott Brinker – President and CIO Peter Scott – CFO Tom Klaritch – COO Troy McHenry – Chief Legal Officer and General Counsel Scott Bohn – Company Participant Mike Dorris – Company Participant Conference Call Participants Richard Anderson – Morgan Stanley Juan Sanabria – BMO Capital Ma ...
Physicians Realty Trust(DOC) - 2021 Q2 - Quarterly Report
2021-08-05 12:29
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, 2021 or ☐ 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) Maryland 46-2519850 (State of Organization) (IRS Emplo ...
Physicians Realty Trust(DOC) - 2021 Q2 - Earnings Call Transcript
2021-08-04 19:18
Healthpeak Properties, Inc. (PEAK) Q2 2021 Earnings Conference Call August 4, 2021 11:00 AM ET Company Participants Andrew Johns - Vice President, Corporate Finance & Investor Relations Tom Herzog - Chief Executive Officer Scott Brinker - President and Chief Information Officer Peter Scott - Chief Financial Officer Tom Klaritch - Chief Operating Officer Mike Dorris - Senior Vice President-Co-Head of Life Science Scott Bohn - Senior Vice President-Co-Head of Life Science Conference Call Participants Nick Yul ...
Physicians Realty Trust(DOC) - 2021 Q1 - Quarterly Report
2021-05-06 13:03
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, 2021 or ☐ 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) Maryland 46-2519850 (State of Organization) (IRS Empl ...
Physicians Realty Trust(DOC) - 2021 Q1 - Earnings Call Transcript
2021-05-05 22:47
Financial Data and Key Metrics Changes - The company reported FFO as adjusted of $0.40 per share and blended same-store growth of 4.3% for Q1 2021 [27] - The Board declared a dividend of $0.30 per share, representing a payout ratio of approximately 88% for the first quarter [27] - Net debt to adjusted EBITDA was 5.4 times, in line with expectations, with a significant repayment of $1.45 billion of bonds maturing in 2023 and 2024 [28] Business Line Data and Key Metrics Changes - Life Science segment reported 8.5% same-store cash NOI growth, driven by rent escalators and higher occupancy [10] - Medical Office segment saw same-store cash NOI growth of 2.1%, with over 615,000 square feet of leases commenced in Q1 [12] - Continuing Care Retirement Communities (CCRC) experienced a negative 16.5% same-store cash NOI growth due to occupancy declines from COVID, but occupancy trends are improving [15] Market Data and Key Metrics Changes - The company closed on an additional $1 billion of rental senior housing sales, with a 2.6% cap rate on annualized trailing three-month NOI [16] - The Life Science market showed strong leasing activity, with 290,000 square feet of leases signed and another 310,000 under letter of intent [11] - Demand in South San Francisco remains robust, controlling nearly 50% of the landlord-owned lab inventory [20] Company Strategy and Development Direction - The company is focusing on strategic investments in its three core business segments and advancing densification opportunities [17] - A strong pipeline for additional off-market acquisitions is in place, with proprietary acquisitions of $422 million completed [7] - The company plans to increase its acquisition guidance to $700 million, reflecting a strong acquisition pipeline [36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operational progress and raised FFO guidance due to stronger-than-expected trends [8] - The effective vaccine rollout and a strong housing market are expected to support continued improvement in occupancy and performance [14] - Management noted that while there are uncertainties, the overall outlook for the Life Science and Medical Office segments remains positive [60][62] Other Important Information - The company is set to publish its tenth annual ESG report, highlighting its decade-long commitment to environmental, social, and governance initiatives [8] - The company has a significant land bank and densification pipeline that will create strong opportunities in well-positioned locations over the next decade [46] Q&A Session Summary Question: Update on lab space development and stabilized yield - Management indicated an 8% yield on the Callan Ridge project and a lower yield on the Nexus project, with strong demand expected [41][42] Question: Clarification on balance sheet and cash position - Management confirmed a strong cash position with about $800 million of acquisition capacity available [48] Question: Insights on acquisition pipeline and market conditions - Management noted strong competition in life science and medical office sectors but emphasized their relationship-driven acquisition strategy [51][52] Question: Discussion on early lease renewals and tenant credit quality - Most early renewals were driven by tenants needing more space rather than concerns over rising rents, with improved tenant credit quality noted [68][61] Question: CCRC occupancy trends and guidance - Management acknowledged a conservative outlook but noted positive occupancy trends and expense moderation [86][88] Question: Life science acquisition opportunities and market expansion - Management is actively exploring new markets but remains focused on their core markets due to competitive advantages [73][72]
Physicians Realty Trust(DOC) - 2020 Q4 - Annual Report
2021-02-26 13:59
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, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------|-------|-----------------|--------------|------------- ...
Physicians Realty Trust(DOC) - 2020 Q4 - Earnings Call Transcript
2021-02-10 22:04
Healthpeak Properties, Inc. (PEAK) Q4 2020 Earnings Conference Call February 10, 2021 12:00 PM ET Company Participants Andrew Johns - Vice President, Corporate Finance and Investor Relations Thomas Herzog - Chief Executive Officer Scott Brinker - President and Chief Information Officer Peter Scott - Chief Financial Officer Thomas Klaritch - EVP and Chief Development and Operating Officer Troy McHenry - EVP, Chief Legal Officer, General Counsel and Corporate Secretary Conference Call Participants Nicholas Yu ...
Physicians Realty Trust(DOC) - 2020 Q3 - Quarterly Report
2020-11-06 21:05
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, 2020 or ☐ 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) Maryland 46-2519850 (State of Organization) (IRS ...
Physicians Realty Trust(DOC) - 2020 Q3 - Earnings Call Transcript
2020-11-04 00:34
Healthpeak Properties, Inc. (PEAK) Q3 2020 Earnings Conference Call November 3, 2020 12:00 PM ET Company Participants Barbat Rodgers - Senior Director, IR Tom Herzog - CEO Scott Brinker - President & CIO Pete Scott - CFO Tom Klaritch - Chief Development & Operating Officer Troy McHenry - CLO & General Counsel Conference Call Participants Nick Yulico - Scotiabank Steve Sakwa - Evercore ISI Michael Carroll - RBC Juan Sanabria - BMO Capital Markets Jordan Sadler - KeyBanc Nick Joseph - Citi Rich Anderson - SMB ...