Physicians Realty Trust plans stock offering

Physicians Realty Trust, a real estate investment trust based in Milwaukee that owns and manages health care properties, has announced a public stock offering of 18 million common shares as part of agreements to buy 52 medical office buildings in 10 states for approximately $724.9 million, including $32.9 million in future capital improvements, from affiliates of Catholic Health Initiatives. Physicians Realty Trust also granted the underwriters an option to buy an additional 2.7 million shares. The company’s stock is traded on the New York Stock Exchange under the “DOC” ticker symbol.

Hiring reaches 9-year high; job openings slip

U.S. hiring jumped to a nine-year high in February, a sign of robust business demand for new workers, while the number of open positions slipped. The Labor Department reported Tuesday that 5.4 million people found jobs, a 5.8% jump from January and the most since November 2006. More Americans also quit their jobs. Both figures point to a healthier, more dynamic labor market. Businesses have been reluctant to accelerate hiring for much of the nearly 7-year-old recovery. But the raw hiring numbers have now returned to pre-recession levels. That suggests businesses are more confident about the economy’s future.

Service industries show growth

Growth in America’s service industries accelerated in March for the first time in five months, indicating the economy was improving after a sluggish start to the year. The Institute for Supply Management’s non-manufacturing index, covering industries including construction, finance and retailing, rose to 54.5 from 53.4 in February, the Tempe, Ariz.-based group’s data showed Tuesday. Readings above 50 signal expansion. The ISM non-manufacturing survey covers an array of industries including utilities, retailing, housing and health care, in addition to construction and agriculture. Twelve of 18 industries showed growth last month, according to the report.