MILWAUKEE – MILWAUKEE (AP) _ Physicians Realty Trust (DOC) on Friday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.
The Milwaukee-based real estate investment trust said it had funds from operations of $51.7 million, or 28 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 27 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $22.7 million, or 12 cents per share.
The health care real estate investment trust posted revenue of $105 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $104.2 million.
The company's shares have declined roughly 7 percent since the beginning of the year. The stock has fallen 3.5 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on DOC at https://www.zacks.com/ap/DOC