DCT Industrial Trust Downgraded to “Hold” at Stifel Nicolaus (DCT)
DCT Industrial Trust (NYSE:DCT) was downgraded by equities research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $8.50 target price on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 8.70% from the company’s current price.
Shares of DCT Industrial Trust (NYSE:DCT) opened at 7.82 on Tuesday. 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 $7.81 and a 200-day moving average of $7.54. The company has a market cap of $2.563 billion and a P/E ratio of 189.76. DCT Industrial Trust also saw a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 9,158,290 shares, a growth of 36.0% from the April 15th total of 6,733,681 shares. Currently, 2.8% of the shares of the company are sold short. Based on an average daily volume of 8,314,499 shares, the short-interest ratio is presently 1.1 days.
DCT Industrial Trust (NYSE:DCT) last released its earnings data on Thursday, May 1st. The company reported $0.11 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.11. The company had revenue of $83.40 million for the quarter, compared to the consensus estimate of $77.85 million. During the same quarter last year, the company posted $0.11 earnings per share. DCT Industrial Trust’s revenue was up 22.5% compared to the same quarter last year. 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, July 16th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Tuesday, July 1st.
Several other analysts have also recently commented on the stock. Analysts at ISI Group downgraded shares of DCT Industrial Trust from a “buy” rating to a “neutral” rating in a research note on Friday, May 2nd. They now have a $8.00 price target 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, February 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $8.50.
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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