Advantus Capital Management Inc reduced its stake in shares of DCT Industrial Trust Inc (NYSE:DCT) by 95.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,972 shares of the company’s stock after selling 256,802 shares during the period. Advantus Capital Management Inc’s holdings in DCT Industrial Trust were worth $533,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Public Employees Retirement Association of Colorado increased its stake in DCT Industrial Trust by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 2,901 shares of the company’s stock worth $141,000 after buying an additional 11 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in DCT Industrial Trust by 7.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,722 shares of the company’s stock worth $229,000 after buying an additional 317 shares during the period. Quantitative Systematic Strategies LLC bought a new stake in DCT Industrial Trust during the second quarter worth approximately $247,000. LS Investment Advisors LLC increased its stake in DCT Industrial Trust by 7.6% in the third quarter. LS Investment Advisors LLC now owns 5,765 shares of the company’s stock worth $280,000 after buying an additional 407 shares during the period. Finally, World Asset Management Inc increased its stake in DCT Industrial Trust by 36.4% in the third quarter. World Asset Management Inc now owns 5,889 shares of the company’s stock worth $286,000 after buying an additional 1,571 shares during the period. Hedge funds and other institutional investors own 96.65% of the company’s stock.
DCT Industrial Trust Inc (NYSE:DCT) traded up 0.56% during mid-day trading on Friday, hitting $46.29. 356,028 shares of the company were exchanged. DCT Industrial Trust Inc has a 12-month low of $34.45 and a 12-month high of $50.57. The company has a 50 day moving average of $47.01 and a 200 day moving average of $47.18. The stock has a market cap of $4.24 billion, a P/E ratio of 45.03 and a beta of 0.89.
DCT Industrial Trust (NYSE:DCT) last posted its earnings results on Thursday, February 2nd. The company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.02. DCT Industrial Trust had a net margin of 23.65% and a return on equity of 4.82%. The business had revenue of $102.23 million for the quarter, compared to analyst estimates of $101.68 million. During the same quarter in the prior year, the firm earned $0.53 EPS. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities research analysts expect that DCT Industrial Trust Inc will post $0.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 12th. Stockholders of record on Friday, March 31st will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Wednesday, March 29th. DCT Industrial Trust’s payout ratio is 120.39%.
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A number of analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of DCT Industrial Trust from an “overweight” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research report on Friday, December 16th. Capital One Financial Corporation upgraded shares of DCT Industrial Trust from an “equal weight” rating to an “overweight” rating and set a $50.00 price target on the stock in a research report on Wednesday. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of DCT Industrial Trust from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Tuesday, January 24th. Finally, Mizuho dropped their price target on shares of DCT Industrial Trust from $51.00 to $48.00 and set a “neutral” rating on the stock in a research report on Monday, November 7th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $46.22.
In other news, CFO Matthew T. Murphy sold 16,170 shares of the company’s stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $45.41, for a total value of $734,279.70. Following the sale, the chief financial officer now owns 7,481 shares of the company’s stock, valued at approximately $339,712.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by corporate insiders.
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.
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