DCT Industrial Trust Inc (DCT) Upgraded to Buy at Zacks Investment Research
DCT Industrial Trust Inc (NYSE:DCT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $66.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.00% from the stock’s previous close.
According to Zacks, “DCT INDUSTRIAL is a leading industrial real estate company that owns, operates and develops high quality bulk distribution and light industrial properties in high volume distribution markets in the U.S. and Mexico. “
DCT has been the topic of several other reports. Jefferies Group LLC started coverage on shares of DCT Industrial Trust in a research note on Friday, June 23rd. They issued a “hold” rating and a $53.00 target price on the stock. BidaskClub upgraded shares of DCT Industrial Trust from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Stifel Nicolaus reiterated a “buy” rating and issued a $60.00 target price (up from $58.00) on shares of DCT Industrial Trust in a research note on Wednesday, August 9th. UBS AG cut shares of DCT Industrial Trust from a “neutral” rating to a “sell” rating and set a $55.00 target price on the stock. in a research note on Friday, September 8th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $61.00 target price on shares of DCT Industrial Trust in a research note on Monday, September 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. DCT Industrial Trust has a consensus rating of “Hold” and an average target price of $55.10.
Shares of DCT Industrial Trust (DCT) traded down 0.46% during midday trading on Tuesday, reaching $58.93. 512,213 shares of the company’s stock traded hands. The firm has a market cap of $5.49 billion, a PE ratio of 59.05 and a beta of 0.95. The stock has a 50-day moving average price of $58.44 and a 200 day moving average price of $54.34. DCT Industrial Trust has a 12 month low of $42.96 and a 12 month high of $60.02.
DCT Industrial Trust (NYSE:DCT) last announced its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.60 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.60. The company had revenue of $104.50 million for the quarter, compared to analysts’ expectations of $106.54 million. DCT Industrial Trust had a net margin of 22.20% and a return on equity of 4.69%. DCT Industrial Trust’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 EPS. Equities research analysts predict that DCT Industrial Trust will post $0.88 earnings per share for the current year.
In other news, Director John C. Okeeffe sold 1,750 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $57.95, for a total transaction of $101,412.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.50% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in shares of DCT Industrial Trust by 13.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,780 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 333 shares in the last quarter. Blue Sky Asset Management LLC purchased a new stake in shares of DCT Industrial Trust during the 1st quarter valued at $189,000. Oakbrook Investments LLC purchased a new stake in shares of DCT Industrial Trust during the 2nd quarter valued at $202,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of DCT Industrial Trust during the 1st quarter valued at $288,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of DCT Industrial Trust during the 2nd quarter valued at $303,000. Hedge funds and other institutional investors own 95.42% of the company’s stock.
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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