Physicians Realty Trust (NYSE: DOC) reported Q1 EPS of $0.08, in-line with the analyst estimate of $0.08. Revenue for the quarter came in at $113.3 million versus the consensus estimate of $111.89 million.

First Quarter and Recent Highlights:

• Reported first quarter 2021 total revenue of $113.3 million, an increase of 5.5% over the prior year period.
• Generated first quarter net income per share of $0.08 on a fully diluted basis compared to net income per share of $0.07 on a fully diluted basis in the same period last year.
• Generated first quarter Normalized Funds From Operations (Normalized FFO) of $0.27 per share on a fully diluted basis compared to $0.26 per share for the same period last year.
• New investments and development commitments of $16.3 million during the first quarter.
• First quarter MOB Same-Store Cash Net Operating Income growth was 2.4% year-over-year.
• Declared a quarterly dividend of $0.23 per share and OP Unit for the first quarter 2021, paid April 16, 2021.
• Sold 2,887,296 common shares pursuant to the ATM program at a weighted average price of $18.32 during the first quarter 2021, resulting in net proceeds of approximately $52.4 million.

John T. Thomas, President and Chief Executive Officer of the Trust, commented, “We are off to a very good start in 2021, with excellent operating results and substantially all of our providers back to pre-pandemic volumes and performance, with many of them providing vaccine locations in our facilities. As we progress through 2021, we continue to see many off-market opportunities to Invest in Better® through acquisitions and financing new development for growth. In addition to the recently closed $35 million Adventist Wesley Chapel facility in Tampa, we have over $160 million of LOIs in various stages of negotiations.

“We are very proud to announce we have earned the 2021 ENERGY STAR® Partner of the Year Award. This award is a testament to our dedication to ESG, and we plan to continue implementing best practices across our portfolio. We will be publishing our second annual ESG report in June 2021 and are excited to share our ESG performance within that report. We look forward to discussing first quarter performance during today’s conference call,” Mr. Thomas concluded.

For earnings history and earnings-related data on Physicians Realty Trust (DOC) click here.