DCT Industrial Trust Inc. (DCT) Hits New 52-Week High at $49.11
DCT Industrial Trust Inc. (NYSE:DCT)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $49.11 and last traded at $48.71, with a volume of 158,689 shares trading hands. The stock had previously closed at $48.88.
Several equities analysts have issued reports on the company. Zacks Investment Research lowered DCT Industrial Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Citigroup Inc. boosted their price target on DCT Industrial Trust from $40.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, July 7th. Capital One Financial Corp. lowered DCT Industrial Trust from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, May 18th. Evercore ISI lowered DCT Industrial Trust from a “buy” rating to a “hold” rating and set a $44.00 price target on the stock. in a research note on Monday, May 23rd. Finally, Stifel Nicolaus restated a “buy” rating and set a $43.00 price target (up previously from $40.00) on shares of DCT Industrial Trust in a research note on Friday, April 15th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $41.67.
The company has a 50 day moving average price of $46.95 and a 200-day moving average price of $40.82. The stock has a market capitalization of $4.40 billion and a PE ratio of 42.89.
DCT Industrial Trust (NYSE:DCT) last posted its earnings results on Thursday, May 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.03. During the same period in the previous year, the company posted $0.49 EPS. The firm had revenue of $94.40 million for the quarter, compared to analyst estimates of $89.99 million. DCT Industrial Trust’s revenue was up 6.8% on a year-over-year basis. On average, analysts expect that DCT Industrial Trust Inc. will post $2.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 13th. Investors of record on Friday, July 1st were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.37%. The ex-dividend date was Wednesday, June 29th.
In related news, Director John C. Okeeffe sold 2,250 shares of the stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $45.61, for a total transaction of $102,622.50. Following the transaction, the director now owns 8,600 shares of the company’s stock, valued at approximately $392,246. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John V. Pharris sold 5,807 shares of the stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $43.09, for a total value of $250,223.63. Following the transaction, the director now directly owns 12,516 shares in the company, valued at approximately $539,314.44. The disclosure for this sale can be found here.
A number of large investors recently bought and sold shares of DCT. First Trust Advisors LP raised its stake in DCT Industrial Trust by 6.2% in the fourth quarter. First Trust Advisors LP now owns 34,889 shares of the company’s stock worth $1,304,000 after buying an additional 2,024 shares in the last quarter. Quantitative Investment Management LLC bought a new stake in DCT Industrial Trust during the fourth quarter worth about $1,390,000. ProShare Advisors LLC raised its stake in DCT Industrial Trust by 21.2% in the fourth quarter. ProShare Advisors LLC now owns 44,850 shares of the company’s stock worth $1,676,000 after buying an additional 7,855 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in DCT Industrial Trust by 2.1% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 52,333 shares of the company’s stock worth $1,956,000 after buying an additional 1,061 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in DCT Industrial Trust by 2.2% in the fourth quarter. New York State Common Retirement Fund now owns 84,600 shares of the company’s stock worth $3,162,000 after buying an additional 1,800 shares in the last quarter.
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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