Physicians Realty Trust reports higher profit on expanded portfolio

Milwaukee valve nibco

Milwaukee-based Physicians Realty Trust today reported third quarter net income of $4 million, or 5 cents per share, compared with a net loss of $2.3 million, or 6 cents lost per share, in the third quarter of 2014.

CRE deal
Physicians Realty Trust purchases health care real estate.

The health care real estate investment trust attributed the dramatic rise in profit to its expansion to 132 portfolio properties totaling 5.3 million square feet. The portfolio is 95.5 percent leased.

PRT’s revenue totaled $34.9 million in the quarter, up 146 percent from $14.2 million in the same period a year ago.

“We are very proud of our operating performance and growth completed during the third quarter,” said John Thomas, president and chief executive officer of PRT. “We also appreciate the strong support by our investors in the follow-on offering completed in October, which further strengthened an already very strong balance sheet and positioned us for continued and sustainable growth. From the beginning of the company just over 28 months ago, we have always stressed the importance of building a great long-term organization striving to achieve reliable rising dividends and total shareholder returns, and we believe we are well on our way to continue delivering on those goals in to the future.”

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Molly Dill, former BizTimes Milwaukee managing editor.

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