DCT Industrial Trust Inc (NYSE:DCT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage currently has a $66.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.00% from the company’s previous close.
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. “
A number of other analysts also recently weighed in on the stock. Janney Montgomery Scott assumed coverage on shares of DCT Industrial Trust in a research report on Friday, September 29th. They issued a “neutral” rating and a $59.00 price target on the stock. BMO Capital Markets restated a “market perform” rating and set a $61.00 target price on shares of DCT Industrial Trust in a report on Monday, September 11th. UBS AG downgraded shares of DCT Industrial Trust from a “neutral” rating to a “sell” rating and set a $55.00 target price on the stock. in a report on Friday, September 8th. BidaskClub upgraded shares of DCT Industrial Trust from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 price target (up from $58.00) on shares of DCT Industrial Trust in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $55.10.
DCT Industrial Trust (DCT) traded down 0.46% during mid-day trading on Tuesday, hitting $58.93. 512,213 shares of the company’s stock were exchanged. The stock has a market capitalization of $5.49 billion, a P/E ratio of 59.05 and a beta of 0.95. DCT Industrial Trust has a 52 week low of $42.96 and a 52 week high of $60.02. The firm has a 50 day moving average of $58.44 and a 200 day moving average of $54.34.
DCT Industrial Trust (NYSE:DCT) last issued its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.60 EPS for the quarter, hitting analysts’ consensus estimates of $0.60. The firm had revenue of $104.50 million for the quarter, compared to analyst estimates of $106.54 million. DCT Industrial Trust had a net margin of 22.20% and a return on equity of 4.69%. The company’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 EPS. Equities analysts forecast that DCT Industrial Trust will post $0.88 earnings per share for the current fiscal year.
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In other news, Director John C. Okeeffe sold 1,750 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $57.95, for a total transaction of $101,412.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.50% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings 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 acquiring an additional 10,159,364 shares during the last quarter. Morgan Stanley boosted its holdings 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 acquiring an additional 975,957 shares during the last quarter. Vanguard Group Inc. boosted its holdings in DCT Industrial Trust by 3.9% in the first quarter. Vanguard Group Inc. now owns 14,369,667 shares of the real estate investment trust’s stock valued at $691,469,000 after acquiring an additional 535,299 shares during the last quarter. PGGM Investments boosted its holdings in DCT Industrial Trust by 50.9% in the second quarter. PGGM Investments now owns 1,380,000 shares of the real estate investment trust’s stock valued at $73,747,000 after acquiring an additional 465,333 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings 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 acquiring an additional 428,218 shares during the last quarter. Institutional investors own 95.42% of the company’s stock.
About DCT Industrial Trust
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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