UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549

                                   SCHEDULE 13G

                    Under the Securities Exchange Act of 1934


Physicians Realty Trust
                                 (Name of Issuer)

Common Stock
                        (Title and Class of Securities)

                                    71943U104
                                 (CUSIP Number)

                                December 31, 2016
               (Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

     [X]  Rule 13d-1(b)

     [_]  Rule 13d-1(c)

     [_]  Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of
the Act (however, see the Notes).


















CUSIP No.                        71943U104                            Page 2

1    NAMES OF REPORTING PERSONS

          Principal Real Estate Investors, LLC

2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

          (a)
          (b)

3    SEC USE ONLY

4    CITIZENSHIP OR PLACE OF ORGANIZATION

          Delaware


NUMBER OF           5    SOLE VOTING POWER                 0
SHARES
BENEFICIALLY        6    SHARED VOTING POWER               8,096,905
OWNED BY
EACH                7    SOLE DISPOSITIVE POWER            0
REPORTING
PERSON WITH         8    SHARED DISPOSITIVE POWER          8,096,905


9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

          8,096,905

10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
     SHARES (See Instructions)

11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

          6.0

12   TYPE OF REPORTING PERSON (See Instructions)

          IA
















CUSIP No.                        71943U104                            Page 3

Item 1(a).  Name of Issuer:

     Physicians Realty Trust


Item 1(b).  Address of Issuer's Principal Executive Offices:

309 N. WATER STREET
SUITE 500
MILWAUKEE WI 53202

Item 2(a).  Name of Person Filing:

     Principal Real Estate Investors, LLC


Item 2(b).  Address of Principal Business Office, or, if None, Residence:

     Principal Real Estate Investors, LLC
     801 Grand Avenue
     Des Moines, IA  50392



Item 2(c).  Citizenship:

     Principal Real Estate Investors, LLC - State of Delaware


Item 2(d).  Title of Class of Securities:

     Common Stock

Item 2(e).  CUSIP Numbers:

     71943U104

Item 3.  If this statement is filed pursuant to section 240.13d-1(b) or 240.13d
         2(b) or (c), check whether the person filing is a:

     (e) [X] An investment adviser in accordance with section 240.13d
          1(b)(1)(ii)(E)


Item 4.  Ownership:

     (a) Amount Beneficially Owned

8,096,905 Shares Common Stock presently held by Principal
Real Estate Investors, LLC





CUSIP No.                        71943U104                            Page 4

     (b) Percent of Class

          6.0  Principal Real Estate Investors, LLC

     (c) Number of shares as to which the person has:

          (i) Sole Power to Vote or Direct the Vote

               0 Shares Common Stock Principal Global Investors, LLC


          (ii) Shared Power to Vote or Direct the Vote

8,096,905 Shares Common Stock presently held by Principal
Real Estate Investors, LLC

          (iii) Sole Power to Dispose or to Direct the Disposition of

               0 Shares Common Stock Principal Global Investors, LLC


          (iv) Shared Power to Dispose or to Direct the Disposition of

8,096,905 Shares Common Stock presently held by Principal
Real Estate Investors, LLC


Item 5.  Ownership of Five Percent or Less of a Class:

     []

Item 6.  Ownership of More than Five Percent on Behalf of Another Person

     Persons other than the reporting persons have a right to receive or the
     power to direct the receipt of dividends from or the proceeds from the sale
     of such securities. The interest of no such person having such an interest
     relates to more than five percent of the class.

Item 7.  See Exhibit attached
















CUSIP No.                        71943U104                        Page 5

Item 8.  Identification and Classification of Members of the Group

     Not applicable

Item 9.  Notice of Dissolution of Group

     Not applicable

Item 10(a).  Certification

     By signing below I certify, to the best of my knowledge and belief,
     the securities referred to above were acquired and are held in the
     ordinary course of business and were not acquired and are not held
     for the purpose of or with the effect of changing or influencing
     the control of the issuer of the securities and were not acquired
     and are not held in connection with or as a participant in any
     transaction having that purpose or effect.

Signature

After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.

Principal Real Estate Investors, LLC

By /s/ Jill Hittner
Jill Hittner, Chief Financial Officer

Dated February 14, 2016



EXHIBIT 99.1

Principal Real Estate Investors, LLC
Item 3 Classification:
(e) Investment Adviser in accordance with Section 240.13d-1(b)(1)(ii)(E)