Physicians Realty Trust Given “Buy” Rating at Wunderlich (DOC)
Physicians Realty Trust (NYSE:DOC)‘s stock had its “buy” rating reaffirmed by equities researchers at Wunderlich in a research report issued on Thursday, American Banking & Market News reports. They currently have a $14.75 target price on the stock, up from their previous target price of $14.00. Wunderlich’s price objective would suggest a potential upside of 21.50% from the company’s current price.
The analysts wrote, “Buy-Rated Physicians Realty Trust (DOC) is our top pick among equity REITs for 2014, because we think the company has a long runway of accretive acquisition potential. The combination of an aging population, healthcare reform, and a shortage of doctors is changing the way medicine is practiced in the U.S. DOC works with doctors and hospital systems to monetize their facilities without disrupting their patient service. The company raised approximately $90mm by issuing 8.3mm shares on December 6, 2013 and expects to deploy the levered proceeds expeditiously to eliminate earnings dilution, and will maintain dividends at $0.90/sh in the mean time. Based on the post-acquisition stabilized earnings, we are raising our 12 month price target to $14.75.”
Physicians Realty Trust (NYSE:DOC) opened at 12.14 on Thursday. Physicians Realty Trust has a one year low of $11.00 and a one year high of $13.30. The stock’s 50-day moving average is $12.65 and its 200-day moving average is $12.16. The company’s market cap is $246.5 million.
The company also recently declared a quarterly dividend, which is scheduled for Friday, February 7th. Investors of record on Friday, January 24th will be given a dividend of 0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 7.41%. The ex-dividend date of this dividend is Wednesday, January 22nd. This is an increase from Physicians Realty Trust’s previous quarterly dividend of $0.18.
A number of other analysts have also recently weighed in on DOC. Analysts at KeyCorp initiated coverage on shares of Physicians Realty Trust in a research note to investors on Wednesday, January 22nd. They set a “hold” rating on the stock. Separately, analysts at Oppenheimer initiated coverage on shares of Physicians Realty Trust in a research note to investors on Monday, January 6th. They set an “outperform” rating on the stock. Finally, analysts at JMP Securities initiated coverage on shares of Physicians Realty Trust in a research note to investors on Monday, January 6th. They set an “outperform” rating and a $15.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Physicians Realty Trust currently has an average rating of “Buy” and a consensus target price of $14.92.
Physicians Realty Trust is a real estate investment trust (NYSE:DOC).
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