DCT Industrial Trust Inc (DCT) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of DCT Industrial Trust Inc (NYSE:DCT) from a hold rating to a buy rating in a report released on Tuesday morning. The brokerage currently has $66.00 price target on the real estate investment trust’s stock.
According to Zacks, “DCT INDUSTRIAL is a leading industrial real estate company that owns, operates and develops high quality bulk distribution and light industrial properties in high volume distribution markets in the U.S. and Mexico. “
A number of other equities research analysts have also commented on DCT. Janney Montgomery Scott assumed coverage on DCT Industrial Trust in a research report on Friday, September 29th. They set a neutral rating and a $59.00 price objective for the company. Stifel Nicolaus restated a buy rating and set a $60.00 price objective (up from $58.00) on shares of DCT Industrial Trust in a research report on Wednesday, August 9th. BidaskClub upgraded DCT Industrial Trust from a hold rating to a buy rating in a research report on Thursday, August 17th. Jefferies Group LLC assumed coverage on DCT Industrial Trust in a research report on Friday, June 23rd. They set a hold rating and a $53.00 price objective for the company. Finally, BMO Capital Markets restated a market perform rating and set a $61.00 price objective on shares of DCT Industrial Trust in a research report on Monday, September 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $55.10.
DCT Industrial Trust (NYSE:DCT) opened at 58.93 on Tuesday. The firm has a market cap of $5.49 billion, a P/E ratio of 59.05 and a beta of 0.95. The stock’s 50 day moving average is $58.48 and its 200-day moving average is $54.42. DCT Industrial Trust has a 1-year low of $42.96 and a 1-year high of $60.02.
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 firm had revenue of $104.50 million during the quarter, compared to analyst estimates of $106.54 million. During the same period last year, the company posted $0.54 EPS. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. Analysts forecast that DCT Industrial Trust will post $0.88 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Friday, October 6th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.10%. 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 news, Director John C. Okeeffe sold 1,750 shares of the firm’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of DCT Industrial Trust during the 2nd quarter worth about $303,000. Public Employees Retirement System of Ohio raised its stake in shares of DCT Industrial Trust by 4.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 143,752 shares of the real estate investment trust’s stock worth $7,682,000 after purchasing an additional 6,265 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of DCT Industrial Trust during the 2nd quarter worth about $453,000. Ameritas Investment Partners Inc. raised its stake in shares of DCT Industrial Trust by 1.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 43,608 shares of the real estate investment trust’s stock worth $2,330,000 after purchasing an additional 418 shares in the last quarter. Finally, 361 Capital LLC raised its stake in shares of DCT Industrial Trust by 94.9% during the 2nd quarter. 361 Capital LLC now owns 31,952 shares of the real estate investment trust’s stock worth $1,708,000 after purchasing an additional 15,560 shares in the last quarter. 95.42% of the stock is owned by institutional investors.
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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