DCT Industrial Trust Inc (DCT) Issues FY17 Earnings Guidance
DCT Industrial Trust Inc (NYSE:DCT) issued an update on its FY17 earnings guidance on Thursday morning. The company provided EPS guidance of $2.44-2.46 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.43.
DCT Industrial Trust (NYSE:DCT) last posted its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.60 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.60. The company had revenue of $104.50 million for 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%. DCT Industrial Trust’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 18th. Shareholders of record on Friday, October 6th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $1.24 dividend on an annualized basis and a yield of 2.14%. DCT Industrial Trust’s payout ratio is 125.25%.
Several brokerages have recently issued reports on DCT. BMO Capital Markets restated a market perform rating and issued a $61.00 price objective on shares of DCT Industrial Trust in a research report on Monday, September 11th. Zacks Investment Research upgraded DCT Industrial Trust from a hold rating to a buy rating and set a $66.00 price objective on the stock in a research report on Tuesday, October 10th. UBS AG downgraded DCT Industrial Trust from a neutral rating to a sell rating and set a $55.00 price objective on the stock. in a research report on Friday, September 8th. KeyCorp restated a buy rating on shares of DCT Industrial Trust in a research report on Friday, October 20th. Finally, Jefferies Group LLC restated a hold rating and issued a $57.00 price objective on shares of DCT Industrial Trust in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $55.55.
In other news, Director John C. Okeeffe sold 1,750 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $57.95, for a total value of $101,412.50. The sale was disclosed in a filing with the SEC, which is available through this link. 1.50% of the stock is owned by corporate insiders.
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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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