Investment analysts at Mizuho initiated coverage on shares of DCT Industrial Trust Inc. (NYSE:DCT) in a report issued on Wednesday. The firm set a “neutral” rating and a $51.00 price target on the stock. Mizuho’s price objective would suggest a potential upside of 4.51% from the company’s current price.
A number of other research firms have also recently commented on DCT. BTIG Research initiated coverage on shares of DCT Industrial Trust in a report on Thursday, August 25th. They set a “neutral” rating on the stock. Citigroup Inc. raised their target price on shares of DCT Industrial Trust from $40.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th. Capital One Financial Corp. cut shares of DCT Industrial Trust from an “equal weight” rating to an “underweight” rating in a report on Monday, August 8th. Finally, Zacks Investment Research cut shares of DCT Industrial Trust from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $45.13.
DCT Industrial Trust (NYSE:DCT) opened at 48.80 on Wednesday. The company has a market cap of $4.40 billion, a PE ratio of 42.03 and a beta of 0.95. DCT Industrial Trust has a 12-month low of $32.88 and a 12-month high of $50.57. The stock has a 50 day moving average of $48.52 and a 200 day moving average of $44.94.
DCT Industrial Trust (NYSE:DCT) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.54 EPS for the quarter, meeting 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 firm had revenue of $95.90 million for the quarter, compared to analysts’ expectations of $94.94 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts expect that DCT Industrial Trust will post $2.19 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Friday, October 7th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Wednesday, October 5th. DCT Industrial Trust’s dividend payout ratio is presently 99.15%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Utah Retirement Systems purchased a new stake in shares of DCT Industrial Trust during the second quarter valued at approximately $947,000. Shinko Asset Management Co. Ltd. increased its stake in shares of DCT Industrial Trust by 28.2% in the second quarter. Shinko Asset Management Co. Ltd. now owns 1,804,584 shares of the company’s stock valued at $86,692,000 after buying an additional 397,031 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of DCT Industrial Trust by 8.3% in the first quarter. Geode Capital Management LLC now owns 701,049 shares of the company’s stock valued at $27,670,000 after buying an additional 53,879 shares during the last quarter. State Street Corp increased its stake in shares of DCT Industrial Trust by 15.5% in the first quarter. State Street Corp now owns 3,114,692 shares of the company’s stock valued at $122,937,000 after buying an additional 418,039 shares during the last quarter. Finally, A.R.T. Advisors LLC purchased a new stake in shares of DCT Industrial Trust during the first quarter valued at approximately $1,200,000. Institutional investors and hedge funds own 98.47% of the company’s stock.
About DCT Industrial Trust
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.
Receive News & Ratings for DCT Industrial Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DCT Industrial Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.