Bank of New York Mellon Corp Has $84.13 Million Stake in DCT Industrial Trust Inc (DCT)
Bank of New York Mellon Corp increased its position in DCT Industrial Trust Inc (NYSE:DCT) by 37.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,574,329 shares of the real estate investment trust’s stock after buying an additional 428,218 shares during the period. Bank of New York Mellon Corp owned approximately 1.71% of DCT Industrial Trust worth $84,132,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in shares of DCT Industrial Trust by 13.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,780 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 333 shares in the last quarter. Blue Sky Asset Management LLC bought a new stake in shares of DCT Industrial Trust during the first quarter worth about $189,000. Oakbrook Investments LLC bought a new stake in shares of DCT Industrial Trust during the second quarter worth about $202,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of DCT Industrial Trust by 5.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,645 shares of the real estate investment trust’s stock worth $272,000 after buying an additional 299 shares in the last quarter. Finally, World Asset Management Inc boosted its stake in shares of DCT Industrial Trust by 3.1% in the first quarter. World Asset Management Inc now owns 5,678 shares of the real estate investment trust’s stock worth $273,000 after buying an additional 173 shares in the last quarter. Institutional investors own 95.42% of the company’s stock.
Shares of DCT Industrial Trust Inc (DCT) opened at 57.83 on Monday. The company has a market cap of $5.38 billion, a PE ratio of 57.95 and a beta of 0.95. The company has a 50-day moving average price of $55.79 and a 200-day moving average price of $51.74. DCT Industrial Trust Inc has a 1-year low of $42.96 and a 1-year high of $58.32.
DCT Industrial Trust (NYSE:DCT) last released its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.60. The firm 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%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS. Equities research analysts expect that DCT Industrial Trust Inc will post $0.87 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Friday, October 6th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.14%. DCT Industrial Trust’s dividend payout ratio (DPR) is currently 125.25%.
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DCT has been the topic of a number of analyst reports. Zacks Investment Research upgraded DCT Industrial Trust from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Wednesday, May 24th. Stifel Nicolaus upped their price objective on DCT Industrial Trust from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, June 14th. BidaskClub cut DCT Industrial Trust from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 21st. Finally, Jefferies Group LLC initiated coverage on DCT Industrial Trust in a research note on Friday, June 23rd. They set a “hold” rating and a $53.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $52.71.
In other news, CFO Matthew T. Murphy sold 7,481 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 37 shares in the company, valued at approximately $1,957.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark Skomal sold 1,320 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $53.66, for a total value of $70,831.20. Following the completion of the transaction, the insider now owns 1,167 shares in the company, valued at $62,621.22. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
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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