UPDATE: Baird Downgrades Physicians Realty Trust (DOC) to Neutral

June 14, 2021 2:50 AM EDT
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Price: $18.76 -1%

Rating Summary:
    15 Buy, 9 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 14 | New: 23
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(Updated - June 14, 2021 6:22 AM EDT)

Baird analyst Amanda Sweitzer downgraded Physicians Realty Trust (NYSE: DOC) from Outperform to Neutral with a price target of $20.00 (from $19.00).

The analyst comments "Our downgrade is not a call management’s tone at NAREIT (if anything, management appeared more optimistic about its ability to execute on its $400-$600 million pipeline); rather, we are taking some chips off the table after the recent improved sector performance given our expectation that private market competition will continue to lower expected external growth accretion. Upside appears more limited today, and our updated price target assumes DOC trades at a comparable multiple as HTA (not covered) vs. the >2x historical discount."

For an analyst ratings summary and ratings history on Physicians Realty Trust click here. For more ratings news on Physicians Realty Trust click here.

Shares of Physicians Realty Trust closed at $19.47 yesterday.

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