DCT Industrial Trust Rating Lowered to Market Perform at BMO Capital Markets (DCT)
DCT Industrial Trust (NYSE:DCT) was downgraded by stock analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report issued on Friday, TheFlyOnTheWall.com reports.
DCT Industrial Trust (NYSE:DCT) opened at 8.09 on Friday. DCT Industrial Trust has a 52-week low of $6.62 and a 52-week high of $8.26. The stock has a 50-day moving average of $8. and a 200-day moving average of $7.88. The company has a market cap of $2.698 billion and a price-to-earnings ratio of 253.12.
DCT Industrial Trust (NYSE:DCT) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.12 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.12. The company had revenue of $83.16 million for the quarter, compared to the consensus estimate of $83.38 million. During the same quarter last year, the company posted $0.11 earnings per share. DCT Industrial Trust’s revenue was up 18.8% 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 announced a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors of record on Friday, October 3rd will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Wednesday, October 1st.
Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of DCT Industrial Trust in a research note on Thursday, June 19th. They now have a $8.25 price target on the stock, up previously from $7.75. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $8.25.
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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