Our analysis is based on comparing Physicians Realty Trust with the following peers – Healthcare Realty Trust Incorporated, HCP, Inc., Welltower, Inc., LTC Properties, Inc., Ventas, Inc., Alexandria Real Estate Equities, Inc. and National Health Investors, Inc. (HR-US, HCP-US, HCN-US, LTC-US, VTR-US, ARE-US and NHI-US).
Physicians Realty Trust’s dividend yield is 5.05 percent and its dividend payout is 393.48 percent. This compares to a peer median dividend yield of 4.87 percent and a payout level of 149.45 percent. This type of dividend performance might make it a good stock for dividend investors. However, the company’s relatively low dividend quality score of 25 out of a possible score of 100 raises questions on the sustainability of its robust payout ratio.
Dividend Quality Overview
- Over the last twelve months (prior to June 30, 2017), DOC-US paid a low quality dividend, which represents a yield of 5.02% at the current price.
- Dividend quality trend has not been consistent over the last five years. Dividends were paid during each of these years — of these 1 was high quality, 2 were medium quality and 2 were low quality.
- The ending cash balance is less than the last full year dividend payment and cannot be relied on to cushion any significant reduction of cash flows in the future.
Quadrant label definitions. Hover to know more
Over the last twelve months (prior to June 30, 2017), DOC-US paid a low quality dividend.
The source of the company’s cash to support the dividend paid over the last twelve months is operating cash flow (coverage of 1.20x), investing cash flow (coverage of -9.09x), issuance cash flow (coverage of 8.68x) and twelve-month prior cash (coverage of 0.30x), for a total dividend coverage of 1.09x.
These coverage ratio factors imply that the firm had to dip into the beginning cash balance to pay the dividend, which suggests a low dividend quality.
|Dividend Yield (%)||N/A||1.04||3.34||4.35||4.07||5.05|
|Dividend Payout (%)||N/A||-311.54||-750||600||409.09||393.48|
A complete list of metrics and analysis is available on the company page.
Physicians Realty Trust operates as a real estate investment trust, which leases and manages healthcare properties. It is a self-managed healthcare real estate company organized to acquire, selectively develop, own and manage healthcare properties which are leased to physicians, hospitals, and healthcare delivery systems. The company principal investments include medical office buildings; outpatient treatment facilities; acute and post-acute care hospitals; as well as other real estate integral to healthcare providers. Physicians Realty Trust was founded by John W. Sweet, Jr. on April 9, 2013 and is headquartered in Milwaukee, WI.
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