The Vanguard Group, Inc. recently announced the acquisition of new stake in Physicians Realty Trust (NYSE:DOC). The institutional investor has increased its shareholding in the Real Estate company by 0.17% to 34.62 million shares with purchase of 59264.0 shares. This fresh investment now brings its stake to 14.52% valued currently at $375.99 million. In addition, BlackRock Fund Advisors raised its holdings by 0.24 million to 30.35 million shares. And SSgA Funds Management, Inc. has lifted its position by 0.17% or 21528.0 shares – to 12.53 million shares.
With over 5.9 million Physicians Realty Trust (DOC) shares trading Monday and a closing price of $11.15 on the day, the dollar volume was approximately $65.73 million. The shares have shown a negative half year performance of -19.67% and its price on 11/20/23 lost nearly -0.45%. Currently, there are 238.49M common shares owned by the public and among those 235.06M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for DOC have a consensus price objective of $14.50. The analysts have set the share’s price value over the next 12 months at a high of $19.00 and a low of $11.00. The average price target is 23.1% above its recent price level and a downside to the estimated low will see the stock lose -1.36% over that period. But an upside of 41.32% will see the stock hit the forecast high price target while median target price for the stock is $14.50.
Insiders at the company have transacted a total of 75 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 47 of these insider trades were purchases, accounting for 1,013,541 shares. Insider sales of the common stock occurred on 28 occasions, with total insider shares sold totaling 600,734 shares.
The top 3 mutual fund holders in Physicians Realty Trust are Vanguard Real Estate Index Fund, Vanguard Total Stock Market ETF, and Undiscovered Managers Behavioral. Vanguard Real Estate Index Fund owns 9.83 million shares of the company’s stock, all valued at over $106.74 million. The company sold 66408.0 shares recently to bring their total holdings to about 4.12% of the shares outstanding. Vanguard Total Stock Market ETF bought 0.11 million shares to see its total holdings expand to 7.43 million shares valued at over $80.67 million and representing 3.12% of the shares outstanding. Undiscovered Managers Behavioral sold 27400.0 shares to bring its total holdings to over 7.37 million shares at a value of $80.05 million. Undiscovered Managers Behavioral now owns shares totaling to 3.09% of the shares outstanding.
Shares of Physicians Realty Trust (NYSE: DOC) opened at $11.19, down -$0.01 from a prior closing price of $11.20. However, the script later moved the day high at 11.21, down -0.45%. The company’s stock has a 5-day price change of 2.76% and -16.79% over the past three months. DOC shares are trading -22.94% year to date (YTD), with the 12-month market performance down to -21.31% lower. It has a 12-month low price of $10.52 and touched a high of $16.34 over the same period. DOC has an average intraday trading volume of 2.43 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.87%, -5.33%, and -18.89% respectively.
Institutional ownership of Physicians Realty Trust (NYSE: DOC) shares accounts for 95.95% of the company’s 238.49M shares outstanding. Mutual fund holders own 36.86%, while other institutional holders and individual stakeholders account for 59.65% and 1.16% respectively.
It has a market capitalization of $2.66B and a beta (3y monthly) value of 0.85. The stock’s trailing 12-month PE ratio is 56.97, while the earnings-per-share (ttm) stands at $0.20. The company has a debt-to-equity ratio at 0.74. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.11% over the week and 3.17% over the month.
Analysts forecast that Physicians Realty Trust (DOC) will achieve an EPS of $0.05 for the current quarter, $0.05 for the next quarter and $0.23 for 2024. The lowest estimate earnings-per-share for the quarter is $0.04 while analysts give the company a high EPS estimate of $0.07. Comparatively, EPS for the current quarter was $0.05 a year ago. Earnings per share for the fiscal year are expected to decrease by -57.46%, and 14.91% over the next financial year. EPS should shrink at an annualized rate of -10.10% over the next five years, compared to 14.82% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Physicians Realty Trust (DOC) as a “Moderate Buy” at a consensus score of 2.33. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 6 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the DOC, a number of firms have released research notes about the stock. JMP Securities stated their Mkt Outperform rating for the stock in a research note on May 26, 2023, with the firm’s price target at $15.50.
