Zacks Investment Research lowered shares of DCT Industrial Trust Inc (NYSE:DCT) from a buy rating to a hold rating in a research report report published on Monday.
According to Zacks, “DCT INDUSTRIAL is a leading industrial real estate company that owns, operates and develops high quality bulk distribution and light industrial properties in high volume distribution markets in the U.S. and Mexico. “
Several other research firms have also recently weighed in on DCT. Jefferies Group LLC initiated coverage on DCT Industrial Trust in a research report on Friday, June 23rd. They set a hold rating and a $53.00 price objective on the stock. Citigroup Inc. reaffirmed a neutral rating and set a $52.00 price objective (up from $49.00) on shares of DCT Industrial Trust in a research report on Monday, May 15th. BidaskClub cut DCT Industrial Trust from a buy rating to a hold rating in a research report on Friday, June 30th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $60.00 price objective (up from $58.00) on shares of DCT Industrial Trust in a research report on Wednesday, August 9th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $52.71.
Shares of DCT Industrial Trust (NYSE DCT) traded down 1.05% during midday trading on Monday, hitting $56.32. The company had a trading volume of 23,846 shares. DCT Industrial Trust has a 52 week low of $42.96 and a 52 week high of $57.61. The company has a market capitalization of $5.24 billion, a P/E ratio of 56.43 and a beta of 0.95. The firm’s 50 day moving average is $55.13 and its 200 day moving average is $51.20.
DCT Industrial Trust (NYSE:DCT) last posted its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.60 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.60. The business had revenue of $104.50 million for the quarter, compared to analysts’ expectations of $106.54 million. DCT Industrial Trust had a return on equity of 4.69% and a net margin of 22.20%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 EPS. Equities research analysts anticipate that DCT Industrial Trust will post $0.84 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Friday, October 6th will be given a $0.31 dividend. The ex-dividend date is Thursday, October 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.18%. DCT Industrial Trust’s dividend payout ratio is currently 125.25%.
In other news, insider Mark Skomal sold 1,320 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $53.66, for a total value of $70,831.20. Following the sale, the insider now directly owns 1,167 shares of the company’s stock, valued at approximately $62,621.22. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Matthew T. Murphy sold 7,481 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $52.90, for a total value of $395,744.90. Following the completion of the sale, the chief financial officer now directly owns 37 shares in the company, valued at $1,957.30. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in DCT Industrial Trust by 0.7% in the second quarter. Vanguard Group Inc. now owns 14,465,962 shares of the real estate investment trust’s stock valued at $773,062,000 after buying an additional 96,295 shares during the period. BlackRock Inc. boosted its position 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 valued at $509,986,000 after buying an additional 10,159,364 shares during the period. Bank of New York Mellon Corp boosted its position in DCT Industrial Trust by 37.4% in the second quarter. Bank of New York Mellon Corp now owns 1,574,329 shares of the real estate investment trust’s stock valued at $84,132,000 after buying an additional 428,218 shares during the period. Standard Life Investments LTD boosted its position in DCT Industrial Trust by 18.6% in the second quarter. Standard Life Investments LTD now owns 1,538,501 shares of the real estate investment trust’s stock valued at $82,209,000 after buying an additional 241,699 shares during the period. Finally, Morgan Stanley boosted its position in DCT Industrial Trust by 180.5% in the first quarter. Morgan Stanley now owns 1,516,648 shares of the real estate investment trust’s stock valued at $72,981,000 after buying an additional 975,957 shares during the period. 96.06% of the stock is currently owned by hedge funds and other institutional investors.
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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