Brokerages Anticipate DCT Industrial Trust Inc (DCT) Will Announce Earnings of $0.60 Per Share
Brokerages expect DCT Industrial Trust Inc (NYSE:DCT) to report $0.60 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for DCT Industrial Trust’s earnings, with the highest EPS estimate coming in at $0.61 and the lowest estimate coming in at $0.58. DCT Industrial Trust posted earnings per share of $0.54 during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.1%. The firm is expected to announce its next quarterly earnings report after the market closes on Thursday, August 3rd.
According to Zacks, analysts expect that DCT Industrial Trust will report full year earnings of $2.41 per share for the current fiscal year, with EPS estimates ranging from $2.37 to $2.43. For the next fiscal year, analysts forecast that the company will report earnings of $2.54 per share, with EPS estimates ranging from $2.52 to $2.57. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow DCT Industrial Trust.
DCT Industrial Trust (NYSE:DCT) last issued its earnings results on Thursday, May 4th. The real estate investment trust reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. DCT Industrial Trust had a net margin of 17.68% and a return on equity of 3.67%. The firm had revenue of $105.90 million during the quarter, compared to the consensus estimate of $103.61 million. During the same quarter in the prior year, the firm earned $0.54 earnings per share. The business’s quarterly revenue was up 12.2% on a year-over-year basis.
DCT has been the topic of several recent research reports. Jefferies Group LLC initiated coverage on shares of DCT Industrial Trust in a research report on Friday, June 23rd. They set a “hold” rating and a $53.00 target price on the stock. Zacks Investment Research lowered shares of DCT Industrial Trust from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Citigroup Inc. restated a “neutral” rating and set a $52.00 price target (up previously from $49.00) on shares of DCT Industrial Trust in a report on Monday, May 15th. Finally, BidaskClub lowered shares of DCT Industrial Trust from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. DCT Industrial Trust has an average rating of “Hold” and an average target price of $52.43.
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In other DCT Industrial Trust news, insider Mark Skomal sold 1,320 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $53.66, for a total transaction of $70,831.20. Following the completion of the sale, the insider now owns 1,167 shares in the company, valued at approximately $62,621.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Philip L. Hawkins sold 19,731 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $51.39, for a total transaction of $1,013,976.09. Following the sale, the insider now owns 142,167 shares of the company’s stock, valued at approximately $7,305,962.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,532 shares of company stock valued at $1,480,552. Company insiders own 1.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in shares of DCT Industrial Trust by 13.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,780 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 333 shares during the period. Blue Sky Asset Management LLC acquired a new stake in shares of DCT Industrial Trust during the first quarter worth approximately $189,000. Oakbrook Investments LLC acquired a new stake in shares of DCT Industrial Trust during the second quarter worth approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of DCT Industrial Trust by 5.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,645 shares of the real estate investment trust’s stock worth $272,000 after buying an additional 299 shares during the period. Finally, World Asset Management Inc raised its stake in shares of DCT Industrial Trust by 3.1% in the first quarter. World Asset Management Inc now owns 5,678 shares of the real estate investment trust’s stock worth $273,000 after buying an additional 173 shares during the period. Institutional investors and hedge funds own 96.17% of the company’s stock.
Shares of DCT Industrial Trust (NYSE:DCT) opened at 55.76 on Wednesday. The firm has a 50-day moving average of $54.06 and a 200 day moving average of $50.04. DCT Industrial Trust has a 52 week low of $42.96 and a 52 week high of $56.08. The company has a market cap of $5.13 billion, a P/E ratio of 71.30 and a beta of 0.94.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Friday, June 30th were issued a dividend of $0.31 per share. The ex-dividend date was Wednesday, June 28th. This represents a $1.24 annualized dividend and a yield of 2.22%. DCT Industrial Trust’s payout ratio is 158.97%.
About DCT Industrial Trust
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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