Citigroup Inc. Initiates Coverage on DCT Industrial Trust (DCT)
Citigroup Inc. started coverage on shares of DCT Industrial Trust (NYSE:DCT) in a research note issued on Thursday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
Shares of DCT Industrial Trust (NYSE:DCT) traded up 1.72% during mid-day trading on Thursday, hitting $7.69. The stock had a trading volume of 5,631,876 shares. DCT Industrial Trust has a 1-year low of $5.98 and a 1-year high of $8.45. The stock’s 50-day moving average is $7.1 and its 200-day moving average is $7.40. The company has a market cap of $2.253 billion and a price-to-earnings ratio of 114.55.
DCT Industrial Trust (NYSE:DCT) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.11 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.11. The company had revenue of $73.64 million for the quarter, compared to the consensus estimate of $73.15 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 20.7% on a year-over-year basis. Analysts expect that DCT Industrial Trust will post $0.43 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Macquarie initiated coverage on shares of DCT Industrial Trust in a research note to investors on Friday, October 11th. They set an “outperform” rating on the stock. Separately, analysts at ISI Group upgraded shares of DCT Industrial Trust to a “neutral” rating in a research note to investors on Tuesday, September 3rd. Finally, analysts at Stifel Nicolaus upgraded shares of DCT Industrial Trust from a “hold” rating to a “buy” rating in a research note to investors on Thursday, July 25th. They now have a $8.50 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $7.88.
DCT Industrial Trust Inc (NYSE:DCT) is an industrial real estate company that owns, operates and develops bulk distribution and light industrial properties in distribution markets in the United States and Mexico.
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