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 1.71% to 33.5 million shares with purchase of 0.56 million shares. This fresh investment now brings its stake to 14.08% valued currently at $496.75 million. In addition, BlackRock Fund Advisors raised its holdings by 1.49 million to 28.86 million shares. And SSgA Funds Management, Inc. has lifted its position by 3.92% or 0.46 million shares – to 12.06 million shares.
With over 2.83 million Physicians Realty Trust (DOC) shares trading Friday and a closing price of $14.39 on the day, the dollar volume was approximately $40.66 million. The shares have shown a negative half year performance of -14.55% and its price on 03/10/23 lost nearly -2.37%. Currently, there are 229.16M common shares owned by the public and among those 226.19M 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: 15 analysts who have offered their price forecasts for DOC have a consensus price objective of $16.21. The analysts have set the share’s price value over the next 12 months at a high of $21.00 and a low of $14.50. The average price target is 12.26% above its recent price level and an upside to the estimated low will see the stock gain 0.76% over that period. But an upside of 31.48% will see the stock hit the forecast high price target while median target price for the stock is $15.50.
Insiders at the company have transacted a total of 22 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 76,168 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 72,228 shares.
The top 3 mutual fund holders in Physicians Realty Trust are Vanguard Real Estate Index Fund, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market Index. Vanguard Real Estate Index Fund owns 10.1 million shares of the company’s stock, all valued at over $149.73 million. The company sold 7033.0 shares recently to bring their total holdings to about 4.24% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 16140.0 shares to see its total holdings expand to 7.12 million shares valued at over $105.66 million and representing 3.00% of the shares outstanding. Vanguard Total Stock Market Index bought 9460.0 shares to bring its total holdings to over 6.94 million shares at a value of $102.9 million. Vanguard Total Stock Market Index now owns shares totaling to 2.92% of the shares outstanding.
Shares of Physicians Realty Trust (NYSE: DOC) opened at $14.76, up $0.02 from a prior closing price of $14.74. However, the script later moved the day high at 14.87, down -2.37%. The company’s stock has a 5-day price change of -3.16% and -2.90% over the past three months. DOC shares are trading -0.55% year to date (YTD), with the 12-month market performance down to -14.19% lower. It has a 12-month low price of $13.42 and touched a high of $18.83 over the same period. DOC has an average intraday trading volume of 1.92 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 -5.07%, -5.38%, and -9.40% respectively.
Institutional ownership of Physicians Realty Trust (NYSE: DOC) shares accounts for 96.10% of the company’s 229.16M shares outstanding. Mutual fund holders own 35.68%, while other institutional holders and individual stakeholders account for 56.56% and 1.25% respectively.
It has a market capitalization of $3.51B and a beta (3y monthly) value of 0.80. The stock’s trailing 12-month PE ratio is 31.49, while the earnings-per-share (ttm) stands at $0.46. The company has a PEG of 3.25 and the debt-to-equity ratio at 0.63. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.51% over the week and 2.48% over the month.
Analysts forecast that Physicians Realty Trust (DOC) will achieve an EPS of $0.04 for the current quarter, $0.04 for the next quarter and $0.18 for 2023. The lowest estimate earnings-per-share for the quarter is $0.03 while analysts give the company a high EPS estimate of $0.05. Comparatively, EPS for the current quarter was $0.12 a year ago. Earnings per share for the fiscal year are expected to increase by 18.40%, and 17.50% over the next financial year. EPS should shrink at an annualized rate of 9.70% over the next five years, compared to 14.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate Physicians Realty Trust (DOC) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 9 of the 15 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. KeyBanc Capital Markets stated their Overweight rating for the stock in a research note on December 14, 2022, with the firm’s price target at $17. JP Morgan coverage for the Physicians Realty Trust (DOC) stock in a research note released on October 28, 2022 offered a Neutral rating with a price target of $17. Colliers Securities was of a view on August 05, 2022 that the stock is Neutral, while CapitalOne gave the stock Equal Weight rating on June 03, 2022, issuing a price target of $20. BofA Securities on their part issued Underperform rating on May 19, 2022.
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