Short Interest in DCT Industrial Trust Expands By 36.0% (DCT)
Shares of DCT Industrial Trust (NYSE:DCT) were the recipient of a significant increase in short interest during the month of April. As of April 30th, there was short interest totalling 9,158,290 shares, an increase of 36.0% from the April 15th total of 6,733,681 shares, AmericanBankingNews.com reports. Approximately 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.
A number of analysts have recently weighed in on DCT shares. Analysts at Wells Fargo & Co. upgraded shares of DCT Industrial Trust from a “market perform” rating to an “outperform” rating in a research note on Monday, May 12th. Separately, analysts at Stifel Nicolaus downgraded shares of DCT Industrial Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. They now have a $8.50 price target on the stock. Finally, 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. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $8.25.
Shares of DCT Industrial Trust (NYSE:DCT) opened at 7.65 on Thursday. DCT Industrial Trust has a one year low of $6.62 and a one year high of $8.12. The stock has a 50-day moving average of $7.79 and a 200-day moving average of $7.53. The company has a market cap of $2.507 billion and a price-to-earnings ratio of 187.32.
DCT Industrial Trust (NYSE:DCT) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.11 EPS for the quarter, meeting the Thomson Reuters 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 in the prior year, the company posted $0.11 earnings per share. The company’s quarterly revenue was up 22.5% on a year-over-year basis. On average, analysts predict that DCT Industrial Trust will post $0.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, July 16th. Shareholders 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 3.66%. The ex-dividend date of this dividend is Tuesday, July 1st.
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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