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REIT Report: DOC, Ventas provide COVID-19 updates

While acknowledging uncertainty, CEOs say their healthcare REITs and portfolios are strong

By John B. Mugford

MILWAUKEE and CHICAGO – Because it is so heavily invested in medical office buildings (MOBs) that are “critical” to the delivery of healthcare, officials with Milwaukee-based Physicians Realty Trust (NYSE: DOC) say they believe that the publicly traded healthcare real estate investment trust (REIT) is well-positioned to withstand the economic volatility resulting from the ongoing COVID-19 pandemic.

Last Thursday, March 19, DOC announced details regarding its first quarter (Q1) dividend and distributed a “Supplemental Update” pertaining to the ongoing coronavirus crisis. In that document, DOC’s John T. Thomas, president and CEO, said, “Just as we have faith in our nation’s healthcare providers as they respond to the ongoing COVID-19 pandemic, we believe in the resiliency of DOC’s medical office portfolio in the presence of unprecedented demand on our healthcare system and market volatility.”

Despite the REIT’s stated confidence in the performance of DOC’s existing MOB portfolio, Mr. Thomas noted that DOC has withdrawn its earlier acquisitions guidance for 2020 — or its projected investment total — in light of the potential effects the crisis could have on the MOB acquisitions market.

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