Duff & Phelps Investment Management Co. reduced its position in shares of DCT Industrial Trust Inc (NYSE:DCT) by 12.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,344,523 shares of the real estate investment trust’s stock after selling 186,450 shares during the period. Duff & Phelps Investment Management Co. owned approximately 1.46% of DCT Industrial Trust worth $71,851,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in DCT Industrial Trust by 2,315.3% in the first quarter. BlackRock Inc. now owns 10,598,157 shares of the real estate investment trust’s stock worth $509,986,000 after buying an additional 10,159,364 shares in the last quarter. Wells Fargo & Company MN boosted its stake in DCT Industrial Trust by 6.2% in the first quarter. Wells Fargo & Company MN now owns 34,321 shares of the real estate investment trust’s stock worth $1,652,000 after buying an additional 2,010 shares in the last quarter. LS Investment Advisors LLC boosted its stake in DCT Industrial Trust by 21.2% in the first quarter. LS Investment Advisors LLC now owns 7,429 shares of the real estate investment trust’s stock worth $357,000 after buying an additional 1,299 shares in the last quarter. Utah Retirement Systems boosted its stake in DCT Industrial Trust by 0.5% in the first quarter. Utah Retirement Systems now owns 19,507 shares of the real estate investment trust’s stock worth $939,000 after buying an additional 100 shares in the last quarter. Finally, Capstone Asset Management Co. boosted its stake in DCT Industrial Trust by 30.7% in the first quarter. Capstone Asset Management Co. now owns 11,303 shares of the real estate investment trust’s stock worth $544,000 after buying an additional 2,653 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.
DCT Industrial Trust Inc (NYSE:DCT) opened at 55.21 on Friday. DCT Industrial Trust Inc has a 1-year low of $42.96 and a 1-year high of $57.28. The firm has a market capitalization of $5.14 billion, a P/E ratio of 55.32 and a beta of 0.95. The stock’s 50 day moving average is $54.81 and its 200-day moving average is $50.87.
DCT Industrial Trust (NYSE:DCT) last posted its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.60 EPS for the quarter, hitting the consensus estimate of $0.60. The company had revenue of $104.50 million during the quarter, compared to the consensus estimate of $106.54 million. DCT Industrial Trust had a net margin of 22.20% and a return on equity of 4.69%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 earnings per share. Analysts forecast that DCT Industrial Trust Inc will post $0.64 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Friday, October 6th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, October 5th. DCT Industrial Trust’s payout ratio is presently 125.25%.
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A number of analysts recently commented on DCT shares. Zacks Investment Research cut shares of DCT Industrial Trust from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Jefferies Group LLC assumed coverage on DCT Industrial Trust in a report on Friday, June 23rd. They set a “hold” rating and a $53.00 target price for the company. Stifel Nicolaus increased their target price on DCT Industrial Trust from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, June 14th. Citigroup Inc. reiterated a “neutral” rating and set a $52.00 target price (up previously from $49.00) on shares of DCT Industrial Trust in a report on Monday, May 15th. Finally, BidaskClub cut DCT Industrial Trust from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $52.71.
In other news, CFO Matthew T. Murphy sold 7,481 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $52.90, for a total transaction of $395,744.90. Following the completion of the sale, the chief financial officer now directly owns 37 shares of the company’s stock, valued at $1,957.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark Skomal sold 1,320 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $53.66, for a total transaction of $70,831.20. Following the sale, the insider now directly owns 1,167 shares of the company’s stock, valued at $62,621.22. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
DCT Industrial Trust Company Profile
DCT Industrial Trust Inc (DCT) is an industrial real estate company. The Company specializes in the ownership, acquisition, development, leasing and management of bulk-distribution and light-industrial properties located in various distribution markets in the United States. The Company operates through three segments: East, Central and West.
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