DCT Industrial Trust Inc (NYSE:DCT) declared a quarterly dividend on Thursday, May 11th, Wall Street Journal reports. Shareholders of record on Friday, June 30th will be paid a dividend of 0.31 per share by the real estate investment trust on Wednesday, July 12th. This represents a $1.24 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Wednesday, June 28th.
DCT Industrial Trust has raised its dividend by an average of 1.2% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. DCT Industrial Trust has a payout ratio of 51.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect DCT Industrial Trust to earn $2.54 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 48.8%.
DCT Industrial Trust (NYSE DCT) opened at 55.01 on Tuesday. DCT Industrial Trust has a 12 month low of $42.96 and a 12 month high of $55.69. The stock has a market capitalization of $5.06 billion, a PE ratio of 70.35 and a beta of 0.97. The firm has a 50-day moving average price of $52.80 and a 200 day moving average price of $49.02.
DCT Industrial Trust (NYSE:DCT) last issued its earnings results on Thursday, May 4th. The real estate investment trust reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. DCT Industrial Trust had a return on equity of 3.67% and a net margin of 17.68%. The firm had revenue of $105.90 million for the quarter, compared to the consensus estimate of $103.61 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. The company’s revenue was up 12.2% compared to the same quarter last year. Equities analysts anticipate that DCT Industrial Trust will post $0.60 earnings per share for the current year.
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A number of analysts have recently commented on the company. Jefferies Group LLC assumed coverage on DCT Industrial Trust in a research note on Friday. They issued a “hold” rating and a $53.00 target price on the stock. BidaskClub downgraded DCT Industrial Trust from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 21st. Zacks Investment Research upgraded DCT Industrial Trust from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research note on Friday, June 16th. Stifel Nicolaus upped their target price on DCT Industrial Trust from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, June 14th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $52.00 target price (up previously from $49.00) on shares of DCT Industrial Trust in a research note on Monday, May 15th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $52.86.
In related news, insider Philip L. Hawkins sold 19,731 shares of the company’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $51.39, for a total value of $1,013,976.09. Following the completion of the transaction, the insider now owns 142,167 shares of the company’s stock, valued at approximately $7,305,962.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Skomal sold 1,320 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $53.66, for a total value of $70,831.20. Following the completion of the transaction, the insider now directly owns 1,167 shares of the company’s stock, valued at approximately $62,621.22. The disclosure for this sale can be found here. Insiders sold a total of 28,532 shares of company stock valued at $1,480,552 in the last ninety days. 1.50% of the stock is currently owned by insiders.
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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