DCT Industrial Trust Inc (DCT) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS
DCT Industrial Trust Inc (NYSE:DCT) issued its earnings results on Thursday. The real estate investment trust reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01, Bloomberg Earnings reports. DCT Industrial Trust had a net margin of 22.20% and a return on equity of 4.69%. The company had revenue of $105.18 million for the quarter, compared to the consensus estimate of $105.96 million. During the same period in the previous year, the firm earned $0.60 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. DCT Industrial Trust updated its FY17 guidance to $2.44-2.46 EPS.
Several brokerages recently commented on DCT. BMO Capital Markets reaffirmed 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. Zacks Investment Research raised shares of DCT Industrial Trust from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Tuesday, October 10th. UBS AG downgraded 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. KeyCorp reaffirmed a “buy” rating on shares of DCT Industrial Trust in a research note on Friday, October 20th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $57.00 target price on shares of DCT Industrial Trust in a research note on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.55.
In other DCT Industrial Trust news, Director John C. Okeeffe sold 1,750 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.50% of the company’s stock.
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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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