DCT Industrial Trust Inc (DCT) Reaches New 12-Month High at $59.03
DCT Industrial Trust Inc (NYSE:DCT)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $59.03 and last traded at $59.06, with a volume of 175,633 shares. The stock had previously closed at $58.52.
DCT has been the topic of several recent research reports. Citigroup Inc. reissued a “neutral” rating and set a $52.00 price target (up from $49.00) on shares of DCT Industrial Trust in a research report on Monday, May 15th. Zacks Investment Research raised DCT Industrial Trust from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research report on Wednesday, May 24th. 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 report on Wednesday, June 14th. BidaskClub lowered DCT Industrial Trust from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 21st. Finally, Jefferies Group LLC initiated coverage on DCT Industrial Trust in a research report on Friday, June 23rd. They set a “hold” rating and a $53.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $52.71.
The stock’s 50-day moving average price is $56.77 and its 200 day moving average price is $52.41. The firm has a market cap of $5.47 billion, a P/E ratio of 58.93 and a beta of 0.95.
DCT Industrial Trust (NYSE:DCT) last announced its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.60 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.60. DCT Industrial Trust had a return on equity of 4.69% and a net margin of 22.20%. The company had revenue of $104.50 million during the quarter, compared to the consensus estimate of $106.54 million. During the same quarter last year, the company earned $0.54 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities research analysts anticipate that DCT Industrial Trust Inc will post $0.87 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Friday, October 6th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.11%. DCT Industrial Trust’s payout ratio is presently 125.25%.
In other news, Director John C. Okeeffe sold 1,750 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $57.95, for a total value of $101,412.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in DCT Industrial Trust by 13.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,780 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 333 shares in the last quarter. Blue Sky Asset Management LLC acquired a new stake in DCT Industrial Trust during the 1st quarter valued at $189,000. Oakbrook Investments LLC acquired a new stake in DCT Industrial Trust during the 2nd quarter valued at $202,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in DCT Industrial Trust by 5.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,645 shares of the real estate investment trust’s stock valued at $272,000 after purchasing an additional 299 shares in the last quarter. Finally, World Asset Management Inc increased its holdings in DCT Industrial Trust by 3.1% during the 1st quarter. World Asset Management Inc now owns 5,678 shares of the real estate investment trust’s stock valued at $273,000 after purchasing an additional 173 shares in the last quarter. 95.42% of the stock is owned by institutional investors and hedge funds.
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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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