Milwaukee-based Physicians Realty Trust, a self-managed health care real estate investment trust, today reported a fiscal first quarter net loss of $448,000, or 1 cent per share, which was an improvement over a net loss of $3.1 million, or 15 cents per share, in the same period a year ago.
The company’s quarterly revenues climbed to $24.5 million from $8.0 million a year earlier.
John Thomas, president and chief executive officer, said, “We continued to execute our growth strategy during the first quarter by adding 23 high quality health care facilities to our portfolio with an aggregate value of $234.1 million. We continue to focus on the growth and quality of our cash flow and dividend coverage…Our most recent acquisitions include medical office buildings, including ambulatory surgery centers, operated by affiliates of four of the largest healthcare systems in the United States. These acquisitions reflect our focus on the future of healthcare delivery, as we believe more and more care will be delivered in an outpatient setting, by large well operated physician groups and health systems.”