Zacks Investment Research upgraded shares of DCT Industrial Trust Inc. (NYSE:DCT) from a hold rating to a buy rating in a report released on Thursday. They currently have $55.00 target price on the stock.
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 equities analysts also recently commented on the stock. Citigroup Inc. increased their target price on shares of DCT Industrial Trust from $40.00 to $47.00 and gave the stock a neutral rating in a research report on Thursday, July 7th. Capital One Financial Corp. downgraded shares of DCT Industrial Trust from an equal weight rating to an underweight rating in a research report on Monday, August 8th. BTIG Research began coverage on shares of DCT Industrial Trust in a research report on Thursday, August 25th. They set a neutral rating on the stock. Finally, Mizuho began coverage on shares of DCT Industrial Trust in a research report on Wednesday. They set a neutral rating and a $51.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. DCT Industrial Trust currently has an average rating of Hold and a consensus price target of $45.13.
Shares of DCT Industrial Trust (NYSE:DCT) traded down 0.08% during mid-day trading on Thursday, reaching $48.76. The company had a trading volume of 65,453 shares. DCT Industrial Trust has a 52-week low of $32.88 and a 52-week high of $50.57. The company’s 50-day moving average price is $48.52 and its 200-day moving average price is $44.94. The company has a market capitalization of $4.40 billion, a PE ratio of 42.00 and a beta of 0.95.
DCT Industrial Trust (NYSE:DCT) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.54 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.54. DCT Industrial Trust had a net margin of 28.44% and a return on equity of 5.57%. The business had revenue of $95.90 million for the quarter, compared to the consensus estimate of $94.94 million. During the same period in the prior year, the business posted $0.47 earnings per share. DCT Industrial Trust’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, analysts forecast that DCT Industrial Trust will post $2.19 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 19th. Investors of record on Friday, October 7th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Wednesday, October 5th. DCT Industrial Trust’s payout ratio is presently 99.15%.
Several large investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its stake in DCT Industrial Trust by 5.9% in the second quarter. Macquarie Group Ltd. now owns 1,197,989 shares of the company’s stock valued at $57,552,000 after buying an additional 66,802 shares during the last quarter. Northwestern Mutual Investment Management Company LLC bought a new stake in DCT Industrial Trust during the second quarter valued at $734,000. Mason Street Advisors LLC bought a new stake in DCT Industrial Trust during the second quarter valued at $1,940,000. Public Employees Retirement System of Ohio boosted its stake in DCT Industrial Trust by 33.0% in the second quarter. Public Employees Retirement System of Ohio now owns 132,196 shares of the company’s stock valued at $6,351,000 after buying an additional 32,817 shares during the last quarter. Finally, Stifel Financial Corp bought a new stake in DCT Industrial Trust during the second quarter valued at $6,198,000. Institutional investors and hedge funds own 98.47% of the company’s stock.
DCT Industrial Trust Company Profile
DCT Industrial Trust Inc (DCT) is an industrial real estate company. The Company is engaged in the acquisition, development, leasing and management of bulk distribution and light industrial properties located in distribution markets in the United States. The Company operates in three segments: East, Central and West.
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