Zacks Investment Research upgraded shares of DCT Industrial Trust Inc (NYSE:DCT) from a hold rating to a buy rating in a research note released on Wednesday morning. The brokerage currently has $67.00 price objective 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 analysts have also recently commented on the stock. UBS AG cut shares of DCT Industrial Trust from a neutral rating to a sell rating and set a $55.00 price target on the stock. in a research report on Friday, September 8th. BMO Capital Markets reaffirmed a market perform rating and set a $61.00 price target on shares of DCT Industrial Trust in a research report on Monday, September 11th. KeyCorp reaffirmed a buy rating on shares of DCT Industrial Trust in a research report on Friday, October 20th. BidaskClub upgraded shares of DCT Industrial Trust from a hold rating to a buy rating in a report on Thursday, August 17th. Finally, SunTrust Banks, Inc. reiterated a hold rating and set a $56.00 price objective on shares of DCT Industrial Trust in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $57.20.

Shares of DCT Industrial Trust (NYSE:DCT) opened at $59.75 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 1.07 and a debt-to-equity ratio of 0.84. The company has a market cap of $5,567.48, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 6.02 and a beta of 0.95. DCT Industrial Trust has a 1 year low of $42.96 and a 1 year high of $60.74.

DCT Industrial Trust (NYSE:DCT) last issued its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. The business had revenue of $105.18 million for the quarter, compared to analysts’ expectations of $105.96 million. DCT Industrial Trust had a net margin of 24.39% and a return on equity of 5.16%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. equities research analysts expect that DCT Industrial Trust will post 2.44 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Friday, December 22nd will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $1.44 annualized dividend and a dividend yield of 2.41%. This is a positive change from DCT Industrial Trust’s previous quarterly dividend of $0.31. DCT Industrial Trust’s dividend payout ratio is currently 112.73%.

In related news, Director John C. Okeeffe sold 1,750 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $57.95, for a total value of $101,412.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.50% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of DCT Industrial Trust by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 14,465,962 shares of the real estate investment trust’s stock worth $773,062,000 after acquiring an additional 96,295 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of DCT Industrial Trust by 37.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,574,329 shares of the real estate investment trust’s stock worth $84,132,000 after acquiring an additional 428,218 shares during the last quarter. Standard Life Investments LTD raised its holdings in shares of DCT Industrial Trust by 18.6% in the 2nd quarter. Standard Life Investments LTD now owns 1,538,501 shares of the real estate investment trust’s stock worth $82,209,000 after acquiring an additional 241,699 shares during the last quarter. PGGM Investments raised its holdings in shares of DCT Industrial Trust by 2.0% in the 3rd quarter. PGGM Investments now owns 1,408,000 shares of the real estate investment trust’s stock worth $81,551,000 after acquiring an additional 28,000 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of DCT Industrial Trust by 207.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,357,508 shares of the real estate investment trust’s stock worth $78,627,000 after acquiring an additional 915,856 shares during the last quarter. Institutional investors own 94.85% of the company’s stock.

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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Analyst Recommendations for DCT Industrial Trust (NYSE:DCT)

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