Revenue more than doubles for Physicians Realty Trust in 2Q

Freeman Staff

Aug. 7, 2015

MILWAUKEE - Physicians Realty Trust reported Friday that its revenue during the second quarter more than doubled for a total of $29.7 million. The revenue for the  self-managed health care real estate investment trust for the second quarter of 2014 was $11.4 million.

“We continued to execute our growth strategy during the second quarter by adding 14 high quality health care investments to our portfolio with an aggregate value of $157 million,” said John T. Thomas, president and chief executive officer of the Trust, in a statement.

Total revenue for the second quarter was $29.7 million compared to $11.4 million in the second quarter of 2014, an increase of 159 percent, according to Friday’s announcement.

“We are excited about our growth trajectory and our team’s execution and ability to source premium health care providers and their facilities,” Thomas said.

The company’s portfolio increased to 122 properties totaling 4,454,640 square feet during the second quarter and as of June 30, the portfolio was 94.6 percent leased.

Total expenses for the second quarter of 2015 were $26.4 million, compared to $12.1 million in the second quarter of 2014, or an increase of 119 percent, according to the announcement, which was the result of a $6.6 million increase in depreciation and amortization, a $5.1 million increase in operating expenses, a $1.6 million increase in general and administrative expenses, a $0.5 million increase in interest expenses, and a $0.5 million increase in acquisition related expenses.