Milwaukee-based health care real estate investment trust Physicians Realty Trust today reported a net loss of $638 million in the fourth quarter, compared to a loss of $1.2 billion in the fourth quarter of 2012.
Total revenues were $6.4 billion, up from $3.4 billion in the same period a year ago. The company declared a dividend of 22 cents per share.
For the full year, the REIT reported a net loss of $2.6 billion, compared to $1.5 billion in 2012. The comparison is based on predecessor Ziegler Funds.
The full-year revenues were $16.8 billion, up from $12.9 billion in 2012. The company declared a dividend of 40 cents per share.
“2013 was a monumental year for Physicians Realty Trust,” said John Thomas, president and chief executive officer. “Most notably, we entered the markets as a public company through our July IPO. With the IPO capital, we expanded our portfolio of medical office and healthcare properties and enhanced our steady, predictable cash flow, enabling us to initiate a quarterly dividend of $0.225 per share. We executed a successful follow-on offering in December that provided additional capital for us to pursue our pipeline of acquisitions that further grow and strengthen our revenue stream.”
So far in 2014, PRT has completed mortgage financings on its Louisiana and Oklahoma properties; completed a $6.9 million mezzanine loan to affiliates controlled by MedProperties Holdings LLC; agreed to purchase a medical office building in Mishawka, Ind.; closed the acquisition of a surgical hospital in San Antonia, Texas; closed on the acquisition of several medical office buildings in Georgia; and closed on the acquisition of four medical office buildings in Fla.
