Physicians Realty Trust revenue soars 233% in 2Q: 4 financial report highlights
1. Physicians Realty Trust reported $11.4 million in second quarter revenue, up 233.1 percent from the same period in 2013. The company's rental revenues of $10.2 million increased 304 percent from the previous year.
2. The company closed $73.6 million in acquisitions during the second quarter, including property in Indiana, North Carolina, Mississippi and Wisconsin. "With the acquisition of three buildings in Bloomington, Ind., on July 1, we surpassed $500 million in total real estate assets within our portfolio. We are extremely proud of this achievement given that we started from an initial portfolio of just $124 million in July of last year," said president and CEO John Thomas.
3. Physicians Realty Trust completed a public equity offering of 12.65 million common shares that resulted in $149.9 million in net proceeds. The company also increased its maximum borrowing capacity on revolving credit facility from $140 million to $200 million.
4. During the remainder of the year, the company plans to acquire between $150 million and $300 million of additional real estate.
More Articles on Transactions and Valuation Issues:
Symbion revenue leaps 7%: 5 2Q financial result insights
5 recent ASC expansions
12 statistics on ASC growth, 2007 to 2012
© Copyright ASC COMMUNICATIONS 2016. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.