Physicians Realty Trust revenue soars 233% in 2Q: 4 financial report highlights
reported its second quarter 2014 financial results. Here are four highlights to know.
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.
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