DCT Industrial Trust Inc (DCT) Receives Average Recommendation of “Hold” from Analysts
DCT Industrial Trust Inc (NYSE:DCT) has earned a consensus rating of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $52.43.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded DCT Industrial Trust from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Wednesday, July 12th. BidaskClub downgraded DCT Industrial Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Jefferies Group LLC assumed coverage on DCT Industrial Trust in a research report on Friday, June 23rd. They set a “hold” rating and a $53.00 price objective for the company. Finally, Stifel Nicolaus boosted their price objective on DCT Industrial Trust from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, June 14th.
DCT Industrial Trust (NYSE DCT) opened at 55.76 on Tuesday. DCT Industrial Trust has a 52 week low of $42.96 and a 52 week high of $57.07. The stock has a market capitalization of $5.13 billion, a P/E ratio of 71.30 and a beta of 0.95. The stock’s 50 day moving average price is $54.57 and its 200-day moving average price is $50.53.
DCT Industrial Trust (NYSE:DCT) last issued its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. The business had revenue of $104.50 million during the quarter, compared to the consensus estimate of $106.54 million. DCT Industrial Trust had a return on equity of 4.69% and a net margin of 22.20%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 earnings per share. Equities research analysts expect that DCT Industrial Trust will post $0.60 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Friday, October 6th will be issued a dividend of $0.31 per share. The ex-dividend date is Thursday, October 5th. This represents a $1.24 annualized dividend and a yield of 2.22%. DCT Industrial Trust’s payout ratio is 125.25%.
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In related news, insider Philip L. Hawkins sold 19,731 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 142,167 shares of the company’s stock, valued at $7,305,962.13. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Matthew T. Murphy sold 7,481 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $52.90, for a total value of $395,744.90. Following the sale, the chief financial officer now directly owns 37 shares in the company, valued at approximately $1,957.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,532 shares of company stock worth $1,480,552. 1.50% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in DCT. Vanguard Group Inc. boosted its stake in shares of DCT Industrial Trust by 3.9% in the first quarter. Vanguard Group Inc. now owns 14,369,667 shares of the real estate investment trust’s stock valued at $691,469,000 after buying an additional 535,299 shares during the last quarter. BlackRock Inc. boosted its stake in shares of DCT Industrial Trust by 2,315.3% in the first quarter. BlackRock Inc. now owns 10,598,157 shares of the real estate investment trust’s stock valued at $509,986,000 after buying an additional 10,159,364 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of DCT Industrial Trust by 37.4% in the second quarter. Bank of New York Mellon Corp now owns 1,574,329 shares of the real estate investment trust’s stock valued at $84,132,000 after buying an additional 428,218 shares during the last quarter. Morgan Stanley boosted its stake in shares of DCT Industrial Trust by 180.5% in the first quarter. Morgan Stanley now owns 1,516,648 shares of the real estate investment trust’s stock valued at $72,981,000 after buying an additional 975,957 shares during the last quarter. Finally, PGGM Investments boosted its stake in shares of DCT Industrial Trust by 50.9% in the second quarter. PGGM Investments now owns 1,380,000 shares of the real estate investment trust’s stock valued at $73,747,000 after buying an additional 465,333 shares during the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.
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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