DCT Industrial Trust Inc (NYSE:DCT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm presently has a $62.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.24% from the company’s current price.
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 brokerages have also commented on DCT. Stifel Nicolaus boosted their price target on DCT Industrial Trust from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup Inc. reissued a “neutral” rating and set a $52.00 price target (up previously from $49.00) on shares of DCT Industrial Trust in a research note on Monday, May 15th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. DCT Industrial Trust presently has an average rating of “Hold” and a consensus price target of $52.83.
DCT Industrial Trust (NYSE:DCT) traded down 0.78% during trading on Friday, hitting $54.75. The stock had a trading volume of 710,268 shares. The firm has a market cap of $5.04 billion, a P/E ratio of 70.01 and a beta of 0.97. The stock’s 50 day moving average price is $52.47 and its 200 day moving average price is $48.78. DCT Industrial Trust has a 12-month low of $42.96 and a 12-month high of $55.69.
DCT Industrial Trust (NYSE:DCT) last announced its quarterly earnings results on Thursday, May 4th. The real estate investment trust reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The business had revenue of $105.90 million for the quarter, compared to analyst estimates of $103.61 million. DCT Industrial Trust had a return on equity of 3.67% and a net margin of 17.68%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.54 EPS. On average, analysts anticipate that DCT Industrial Trust will post $0.61 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 12th. Investors of record on Friday, June 30th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Wednesday, June 28th. DCT Industrial Trust’s payout ratio is currently 158.97%.
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In related news, insider Mark Skomal sold 1,320 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $53.66, for a total value of $70,831.20. Following the sale, the insider now owns 1,167 shares of the company’s stock, valued at approximately $62,621.22. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Matthew T. Murphy sold 7,481 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $52.90, for a total value of $395,744.90. Following the completion of the sale, the chief financial officer now directly owns 37 shares in the company, valued at approximately $1,957.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,532 shares of company stock worth $1,480,552. 1.50% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in DCT Industrial Trust during the fourth quarter worth about $37,886,000. Russell Investments Group Ltd. bought a new stake in DCT Industrial Trust during the fourth quarter worth about $6,907,000. Capstone Asset Management Co. raised its stake in DCT Industrial Trust by 30.7% in the first quarter. Capstone Asset Management Co. now owns 11,303 shares of the real estate investment trust’s stock worth $544,000 after buying an additional 2,653 shares during the last quarter. Janus Capital Management LLC raised its stake in DCT Industrial Trust by 9.8% in the fourth quarter. Janus Capital Management LLC now owns 108,900 shares of the real estate investment trust’s stock worth $5,214,000 after buying an additional 9,700 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in DCT Industrial Trust by 8.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 19,729 shares of the real estate investment trust’s stock worth $945,000 after buying an additional 1,491 shares during the last quarter. 97.65% of the stock is currently owned by hedge funds and other institutional investors.
About DCT Industrial Trust
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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