DCT Industrial Trust Inc (DCT) Price Target Raised to $58.00
DCT Industrial Trust Inc (NYSE:DCT) had its target price increased by Stifel Nicolaus from $55.00 to $58.00 in a research note issued to investors on Wednesday morning. The brokerage currently has a buy rating on the real estate investment trust’s stock.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of DCT Industrial Trust from a hold rating to a buy rating and set a $59.00 price target for the company in a report on Wednesday, May 24th. Citigroup Inc. restated a neutral rating and issued a $52.00 price target (up from $49.00) on shares of DCT Industrial Trust in a report 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. The company currently has an average rating of Hold and a consensus target price of $52.83.
DCT Industrial Trust (NYSE:DCT) opened at 54.90 on Wednesday. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 70.20 and a beta of 0.97. DCT Industrial Trust has a 52 week low of $42.96 and a 52 week high of $55.69. The company has a 50-day moving average of $52.70 and a 200-day moving average of $48.96.
DCT Industrial Trust (NYSE:DCT) last posted its quarterly 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. The business had revenue of $105.90 million during the quarter, compared to analysts’ expectations of $103.61 million. DCT Industrial Trust had a net margin of 17.68% and a return on equity of 3.67%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the company posted $0.54 earnings per share. On average, equities analysts forecast that DCT Industrial Trust will post $0.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 12th. Shareholders of record on Friday, June 30th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.26%. The ex-dividend date is Wednesday, June 28th. DCT Industrial Trust’s dividend payout ratio is 158.97%.
In other DCT Industrial Trust news, insider Mark Skomal sold 1,320 shares of DCT Industrial Trust stock in a transaction dated Monday, June 5th. The shares were 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 $62,621.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Philip L. Hawkins sold 19,731 shares of DCT Industrial Trust stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $51.39, for a total transaction of $1,013,976.09. Following the completion of the sale, the insider now directly owns 142,167 shares in the company, valued at approximately $7,305,962.13. 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. Insiders own 1.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of DCT Industrial Trust during the fourth quarter valued at approximately $37,886,000. Russell Investments Group Ltd. bought a new stake in shares of DCT Industrial Trust during the fourth quarter valued at approximately $6,907,000. Capstone Asset Management Co. raised its stake in shares of 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 valued at $544,000 after buying an additional 2,653 shares in the last quarter. Janus Capital Management LLC raised its stake in shares of 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 valued at $5,214,000 after buying an additional 9,700 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of DCT Industrial Trust by 22.0% in the first quarter. Pacer Advisors Inc. now owns 12,980 shares of the real estate investment trust’s stock valued at $625,000 after buying an additional 2,345 shares in the last quarter. 96.01% of the stock is currently owned by institutional investors and hedge funds.
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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