Advisors Asset Management Inc. Takes Position in DCT Industrial Trust Inc. (DCT)
Advisors Asset Management Inc. bought a new stake in DCT Industrial Trust Inc. (NYSE:DCT) during the second quarter, according to its most recent filing with the SEC. The institutional investor bought 2,300 shares of the company’s stock, valued at approximately $110,000.
Several other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado purchased a new position in DCT Industrial Trust during the second quarter valued at approximately $139,000. Daiwa Securities Group Inc. boosted its position in DCT Industrial Trust by 6.5% in the second quarter. Daiwa Securities Group Inc. now owns 3,300 shares of the company’s stock valued at $159,000 after buying an additional 200 shares in the last quarter. BlackRock Japan Co. Ltd boosted its position in DCT Industrial Trust by 1.7% in the first quarter. BlackRock Japan Co. Ltd now owns 4,674 shares of the company’s stock valued at $184,000 after buying an additional 79 shares in the last quarter. World Asset Management Inc purchased a new position in DCT Industrial Trust during the second quarter valued at approximately $207,000. Finally, GWM Advisors LLC purchased a new position in DCT Industrial Trust during the second quarter valued at approximately $212,000. 98.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of DCT Industrial Trust Inc. (NYSE:DCT) traded down 0.57% during midday trading on Friday, reaching $45.39. 825,821 shares of the company’s stock were exchanged. DCT Industrial Trust Inc. has a one year low of $32.88 and a one year high of $50.57. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 39.10 and a beta of 1.00. The firm has a 50 day moving average of $48.19 and a 200-day moving average of $45.29.
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. On average, equities research analysts anticipate that DCT Industrial Trust Inc. will post $2.19 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Friday, October 7th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Wednesday, October 5th. DCT Industrial Trust’s payout ratio is 99.15%.
Several research firms have commented on DCT. Zacks Investment Research raised shares of DCT Industrial Trust from a “sell” rating to a “hold” rating in a research report on Monday, August 8th. Mizuho began coverage on shares of DCT Industrial Trust in a report on Wednesday, September 28th. They issued a “neutral” rating and a $51.00 price target on the stock. 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. Citigroup Inc. lifted their price target 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. Finally, BTIG Research began coverage on shares of DCT Industrial Trust in a report on Thursday, August 25th. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. DCT Industrial Trust currently has a consensus rating of “Hold” and an average target price of $45.13.
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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