Insider Selling: DCT Industrial Trust CEO Sells 125,000 Shares of Stock (DCT)
DCT Industrial Trust (NYSE:DCT) CEO Philip L. Hawkins sold 125,000 shares of DCT Industrial Trust stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $7.67, for a total value of $958,750.00. Following the transaction, the chief executive officer now directly owns 535,373 shares of the company’s stock, valued at approximately $4,106,311. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at TheStreet downgraded shares of DCT Industrial Trust from a “buy” rating to a “hold” rating in a research note on Monday. Separately, analysts at KeyCorp downgraded shares of DCT Industrial Trust from a “buy” rating to a “hold” rating in a research note on Thursday, December 19th. Finally, analysts at ISI Group upgraded shares of DCT Industrial Trust from a “neutral” rating to a “buy” rating in a research note on Monday, December 9th. They now have a $8.00 price target on the stock, up previously from $7.50. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $8.13.
DCT Industrial Trust (NYSE:DCT) remained flat at $7.65 during trading on Thursday. 3,560,819 shares of the company’s stock traded hands. DCT Industrial Trust has a 1-year low of $6.62 and a 1-year high of $8.45. The stock has a 50-day moving average of $7.18 and a 200-day moving average of $7.27. The company has a market cap of $2.450 billion and a P/E ratio of 85.96.
DCT Industrial Trust (NYSE:DCT) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The company had revenue of $77.10 million for the quarter, compared to the consensus estimate of $74.88 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. Analysts expect that DCT Industrial Trust will post $0.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, April 16th. Stockholders of record on Friday, April 4th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Wednesday, April 2nd.
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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