Jefferies Group Comments on DCT Industrial Trust Inc’s Q2 2017 Earnings (NYSE:DCT)
DCT Industrial Trust Inc (NYSE:DCT) – Equities research analysts at Jefferies Group lowered their Q2 2017 earnings estimates for DCT Industrial Trust in a report released on Friday. Jefferies Group analyst J. Petersen now expects that the real estate investment trust will post earnings per share of $0.58 for the quarter, down from their previous estimate of $0.59. Jefferies Group has a “Hold” rating and a $53.00 price target on the stock. Jefferies Group also issued estimates for DCT Industrial Trust’s FY2017 earnings at $2.37 EPS.
DCT Industrial Trust (NYSE:DCT) last announced its earnings results on Thursday, May 4th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. The firm had revenue of $105.90 million for the quarter, compared to analysts’ expectations of $103.61 million. DCT Industrial Trust had a net margin of 17.68% and a return on equity of 3.67%. The business’s revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 EPS.
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A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of DCT Industrial Trust from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Citigroup Inc. reaffirmed a “neutral” rating and set a $52.00 target price (up from $49.00) on shares of DCT Industrial Trust in a research note on Monday, May 15th. Finally, BidaskClub downgraded shares of DCT Industrial Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. DCT Industrial Trust currently has an average rating of “Hold” and a consensus target price of $52.43.
Shares of DCT Industrial Trust (DCT) opened at 53.45 on Monday. DCT Industrial Trust has a 12 month low of $42.96 and a 12 month high of $55.69. The stock’s 50 day moving average is $53.46 and its 200 day moving average is $49.37. The stock has a market capitalization of $4.92 billion, a PE ratio of 68.35 and a beta of 0.94.
A number of institutional investors have recently modified their holdings of DCT. Bank of Montreal Can increased its position in shares of DCT Industrial Trust by 171.8% in the second quarter. Bank of Montreal Can now owns 215,061 shares of the real estate investment trust’s stock worth $11,493,000 after buying an additional 135,939 shares during the period. Fox Run Management L.L.C. bought a new stake in DCT Industrial Trust during the second quarter worth about $422,000. Public Employees Retirement System of Ohio increased its stake in DCT Industrial Trust by 0.7% in the first quarter. Public Employees Retirement System of Ohio now owns 137,487 shares of the real estate investment trust’s stock worth $6,616,000 after buying an additional 971 shares during the period. Blue Sky Asset Management LLC bought a new stake in DCT Industrial Trust during the first quarter worth about $189,000. Finally, Credit Suisse AG increased its stake in DCT Industrial Trust by 6.2% in the first quarter. Credit Suisse AG now owns 383,912 shares of the real estate investment trust’s stock worth $18,473,000 after buying an additional 22,283 shares during the period. 96.00% of the stock is currently owned by institutional investors.
In other DCT Industrial Trust news, insider Mark Skomal sold 1,320 shares of DCT Industrial Trust stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $53.66, for a total transaction of $70,831.20. Following the transaction, the insider now directly owns 1,167 shares of the company’s stock, valued at $62,621.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Philip L. Hawkins sold 19,731 shares of DCT Industrial Trust stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $51.39, for a total transaction of $1,013,976.09. Following the transaction, the insider now directly owns 142,167 shares in the company, valued at $7,305,962.13. The disclosure for this sale can be found here. Insiders have sold 28,532 shares of company stock worth $1,480,552 over the last ninety days. 1.50% of the stock is owned by insiders.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Friday, June 30th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Wednesday, June 28th. DCT Industrial Trust’s dividend payout ratio (DPR) is presently 158.97%.
DCT Industrial Trust Company Profile
DCT Industrial Trust Inc (DCT) is an industrial real estate company. The Company specializes in the ownership, acquisition, development, leasing and management of bulk-distribution and light-industrial properties located in various distribution markets in the United States. The Company operates through three segments: East, Central and West.
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