BidaskClub cut shares of DCT Industrial Trust Inc (NYSE:DCT) from a buy rating to a hold rating in a research note issued to investors on Friday, June 30th.
Several other research analysts have also issued reports on DCT. Zacks Investment Research raised shares of DCT Industrial Trust from a hold rating to a buy rating and set a $60.00 price target for the company in a research report on Wednesday, June 7th. Jefferies Group LLC assumed coverage on shares of DCT Industrial Trust in a research report on Friday, June 23rd. They issued a hold rating and a $53.00 price target for the company. Stifel Nicolaus increased their price target on shares of DCT Industrial Trust from $55.00 to $58.00 and gave the stock a buy rating in a research report on Wednesday, June 14th. Finally, Citigroup Inc. reissued a neutral rating and issued a $52.00 price target (up previously from $49.00) on shares of DCT Industrial Trust in a research report on Monday, May 15th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $52.43.
Shares of DCT Industrial Trust (NYSE:DCT) traded down 0.19% during trading on Friday, reaching $56.39. The company’s stock had a trading volume of 339,331 shares. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 72.11 and a beta of 0.94. The company’s 50-day moving average price is $54.46 and its 200 day moving average price is $50.36. DCT Industrial Trust has a 1-year low of $42.96 and a 1-year high of $56.74.
DCT Industrial Trust (NYSE:DCT) last announced its quarterly earnings data on Thursday, May 4th. The real estate investment trust reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.03. The business had revenue of $105.90 million during the quarter, compared to analyst estimates of $103.61 million. DCT Industrial Trust had a net margin of 17.68% and a return on equity of 3.67%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. Analysts anticipate that DCT Industrial Trust will post $0.60 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Stockholders of record on Friday, June 30th were paid a dividend of $0.31 per share. The ex-dividend date was Wednesday, June 28th. This represents a $1.24 annualized dividend and a dividend yield of 2.20%. DCT Industrial Trust’s dividend payout ratio (DPR) is currently 158.97%.
In other news, CFO Matthew T. Murphy sold 7,481 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $52.90, for a total transaction of $395,744.90. Following 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Philip L. Hawkins sold 19,731 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $51.39, for a total transaction of $1,013,976.09. Following the completion of the transaction, the insider now directly owns 142,167 shares in the company, valued at $7,305,962.13. The disclosure for this sale can be found here. Insiders have sold 28,532 shares of company stock worth $1,480,552 over the last three months. 1.50% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. Texas Permanent School Fund boosted its position in shares of DCT Industrial Trust by 0.9% in the second quarter. Texas Permanent School Fund now owns 67,114 shares of the real estate investment trust’s stock worth $3,587,000 after buying an additional 580 shares during the last quarter. World Asset Management Inc raised its stake in DCT Industrial Trust by 2.5% in the second quarter. World Asset Management Inc now owns 5,822 shares of the real estate investment trust’s stock valued at $311,000 after buying an additional 144 shares during the period. Daiwa Securities Group Inc. raised its stake in DCT Industrial Trust by 13.7% in the second quarter. Daiwa Securities Group Inc. now owns 8,300 shares of the real estate investment trust’s stock valued at $444,000 after buying an additional 1,000 shares during the period. Rothschild Asset Management Inc. raised its stake in DCT Industrial Trust by 4.9% in the second quarter. Rothschild Asset Management Inc. now owns 398,111 shares of the real estate investment trust’s stock valued at $21,275,000 after buying an additional 18,548 shares during the period. Finally, Great West Life Assurance Co. Can raised its stake in DCT Industrial Trust by 3.0% in the second quarter. Great West Life Assurance Co. Can now owns 100,625 shares of the real estate investment trust’s stock valued at $5,375,000 after buying an additional 2,886 shares during the period. 96.17% 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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