BMO Capital Markets reiterated their market perform rating on shares of DCT Industrial Trust Inc (NYSE:DCT) in a research note released on Monday morning. BMO Capital Markets currently has a $61.00 price objective on the real estate investment trust’s stock.
A number of other research analysts have also issued reports on the stock. UBS AG lowered 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 raised shares of DCT Industrial Trust from a hold rating to a buy rating in a research note on Thursday, August 17th. Zacks Investment Research downgraded shares of DCT Industrial Trust from a buy rating to a hold rating in a research note on Monday, August 14th. Stifel Nicolaus reaffirmed a buy rating and set a $60.00 price objective (up previously from $58.00) on shares of DCT Industrial Trust in a research note on Wednesday, August 9th. Finally, Jefferies Group LLC began coverage on shares of DCT Industrial Trust in a research note on Friday, June 23rd. They set a hold rating and a $53.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. DCT Industrial Trust currently has an average rating of Hold and a consensus target price of $53.89.
Shares of DCT Industrial Trust (NYSE DCT) traded down 1.09% during midday trading on Monday, hitting $58.91. 113,703 shares of the company’s stock were exchanged. The firm has a market cap of $5.48 billion, a PE ratio of 59.03 and a beta of 0.95. The stock’s 50-day moving average price is $57.36 and its 200 day moving average price is $52.83. DCT Industrial Trust has a one year low of $42.96 and a one year high of $60.02.
DCT Industrial Trust (NYSE:DCT) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.60. The company 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 firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 EPS. Equities research analysts forecast that DCT Industrial Trust will post $0.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Friday, October 6th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, October 5th. DCT Industrial Trust’s dividend payout ratio is currently 125.25%.
In related news, Director John C. Okeeffe sold 1,750 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $57.95, for a total transaction of $101,412.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in DCT Industrial Trust by 13.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,780 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 333 shares in the last quarter. Blue Sky Asset Management LLC acquired a new stake in DCT Industrial Trust during the 1st quarter worth approximately $189,000. Oakbrook Investments LLC acquired a new stake in DCT Industrial Trust during the 2nd quarter worth approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in DCT Industrial Trust by 5.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,645 shares of the real estate investment trust’s stock worth $272,000 after purchasing an additional 299 shares in the last quarter. Finally, World Asset Management Inc increased its position in DCT Industrial Trust by 3.1% during the 1st quarter. World Asset Management Inc now owns 5,678 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 173 shares in the last quarter. 95.42% of the stock is 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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