Physicians Realty Trust shares up after debut

AP News
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Posted: Jul 19, 2013 11:11 AM

MILWAUKEE (AP) — Physician Realty Trust shares are up slightly in their first day of trading.

The health care real estate investment trust priced its initial public offering of 10.4 million shares at $11.50 per share, the low end of its expected range of $11.50 to $13.50.

By midmorning, its shares had added 8 cents and were trading at $11.58 amid a dip in the broader market.

Physician Realty Trust was recently formed to acquire, develop, own and manage health care properties that are leased to physicians, hospitals and health care delivery systems.

The Milwaukee company expects to raise about $109.8 million and plans to use proceeds to pay down debt, among other things.

The shares are listed on the New York Stock Exchange under the symbol "DOC."