DCT Industrial Trust Inc (DCT) Hits New 12-Month High at $59.03
DCT Industrial Trust Inc (NYSE:DCT) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $59.03 and last traded at $59.06, with a volume of 175,633 shares trading hands. The stock had previously closed at $58.52.
Several research analysts recently issued reports on the company. UBS AG lowered DCT Industrial Trust from a “neutral” rating to a “sell” rating and set a $55.00 target price on the stock. in a research report on Friday. BidaskClub lowered DCT Industrial Trust from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 21st. Zacks Investment Research lowered DCT Industrial Trust from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Stifel Nicolaus increased their price objective on DCT Industrial Trust from $55.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, June 14th. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $52.00 price objective (up from $49.00) on shares of DCT Industrial Trust in a report on Monday, May 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $53.00.
The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 58.79 and a beta of 0.95. The firm’s 50-day moving average price is $56.95 and its 200 day moving average price is $52.50.
DCT Industrial Trust (NYSE:DCT) last issued its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.60. The firm had revenue of $104.50 million for the quarter, compared to analysts’ expectations of $106.54 million. DCT Industrial Trust had a return on equity of 4.69% and a net margin of 22.20%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 EPS. On average, equities research analysts anticipate that DCT Industrial Trust Inc will post $0.87 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Friday, October 6th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, October 5th. DCT Industrial Trust’s dividend payout ratio (DPR) is presently 125.25%.
In other DCT Industrial Trust news, Director John C. Okeeffe sold 1,750 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $57.95, for a total transaction of $101,412.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in DCT Industrial Trust by 2,315.3% during the 1st quarter. BlackRock Inc. now owns 10,598,157 shares of the real estate investment trust’s stock worth $509,986,000 after purchasing an additional 10,159,364 shares during the period. Wells Fargo & Company MN increased its position in DCT Industrial Trust by 6.2% during the 1st quarter. Wells Fargo & Company MN now owns 34,321 shares of the real estate investment trust’s stock worth $1,652,000 after purchasing an additional 2,010 shares during the period. LS Investment Advisors LLC increased its position in DCT Industrial Trust by 21.2% during the 1st quarter. LS Investment Advisors LLC now owns 7,429 shares of the real estate investment trust’s stock worth $357,000 after purchasing an additional 1,299 shares during the period. Utah Retirement Systems increased its position in DCT Industrial Trust by 0.5% during the 1st quarter. Utah Retirement Systems now owns 19,507 shares of the real estate investment trust’s stock worth $939,000 after purchasing an additional 100 shares during the period. Finally, Pacer Advisors Inc. increased its position in DCT Industrial Trust by 22.0% during the 1st quarter. Pacer Advisors Inc. now owns 12,980 shares of the real estate investment trust’s stock worth $625,000 after purchasing an additional 2,345 shares during the period. Institutional investors own 95.42% of the company’s stock.
DCT Industrial Trust Company Profile
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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