DCT Industrial Trust Inc (DCT) Plans Dividend Increase – $0.36 Per Share
DCT Industrial Trust Inc (NYSE:DCT) declared a quarterly dividend on Friday, November 3rd, Wall Street Journal reports. Stockholders of record on Friday, December 22nd will be paid a dividend of 0.36 per share by the real estate investment trust on Thursday, January 4th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Thursday, December 21st. This is a positive change from DCT Industrial Trust’s previous quarterly dividend of $0.31.
DCT Industrial Trust has increased its dividend by an average of 1.2% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. DCT Industrial Trust has a payout ratio of 51.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect DCT Industrial Trust to earn $2.56 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 48.4%.
Shares of DCT Industrial Trust (NYSE DCT) traded up $0.61 on Friday, hitting $59.21. 516,828 shares of the stock were exchanged, compared to its average volume of 521,593. The firm has a market cap of $5.49 billion, a PE ratio of 24.49 and a beta of 0.95.
DCT Industrial Trust (NYSE:DCT) last released its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. DCT Industrial Trust had a net margin of 24.39% and a return on equity of 5.18%. The business had revenue of $105.18 million for the quarter, compared to the consensus estimate of $105.96 million. During the same period last year, the firm earned $0.60 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. analysts expect that DCT Industrial Trust will post 2.43 earnings per share for the current year.
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In related 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.50% of the company’s stock.
A number of analysts have recently issued reports on the stock. BidaskClub raised shares of DCT Industrial Trust from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Zacks Investment Research cut shares of DCT Industrial Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Janney Montgomery Scott assumed coverage on shares of DCT Industrial Trust in a research note on Friday, September 29th. They issued a “neutral” rating and a $59.00 price objective for the company. Stifel Nicolaus reissued a “buy” rating and issued a $60.00 price objective (up from $58.00) on shares of DCT Industrial Trust in a research note on Wednesday, August 9th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $57.00 price objective on shares of DCT Industrial Trust in a research note on Tuesday, October 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $55.55.
DCT Industrial Trust Company Profile
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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