DCT Industrial Trust Inc (DCT) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of DCT Industrial Trust Inc (NYSE:DCT) from a hold rating to a buy rating in a report issued on Tuesday morning. Zacks Investment Research currently has $66.00 target price on the real estate investment trust’s stock.
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. “
Other equities analysts also recently issued research reports about the company. BidaskClub downgraded DCT Industrial Trust from a strong-buy rating to a buy rating in a report on Wednesday, June 21st. Stifel Nicolaus upped their target price on DCT Industrial Trust from $55.00 to $58.00 and gave the company a buy rating in a report on Wednesday, June 14th. Jefferies Group LLC initiated coverage on DCT Industrial Trust in a report on Friday, June 23rd. They set a hold rating and a $53.00 target price for the company. BMO Capital Markets restated a market perform rating and set a $61.00 target price on shares of DCT Industrial Trust in a report on Monday, September 11th. Finally, Janney Montgomery Scott initiated coverage on DCT Industrial Trust in a report on Friday, September 29th. They set a neutral rating and a $59.00 target price for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. DCT Industrial Trust has an average rating of Hold and an average price target of $55.10.
DCT Industrial Trust (NYSE DCT) opened at 59.77 on Tuesday. DCT Industrial Trust has a 12-month low of $42.96 and a 12-month high of $60.21. The firm’s 50-day moving average is $58.66 and its 200 day moving average is $54.58. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 59.89 and a beta of 0.95.
DCT Industrial Trust (NYSE:DCT) last announced its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.60 EPS for the quarter, meeting analysts’ consensus estimates of $0.60. The company had revenue of $104.50 million during 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 firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share. On average, equities analysts expect that DCT Industrial Trust will post $0.88 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Friday, October 6th will be issued 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 yield of 2.07%. DCT Industrial Trust’s dividend payout ratio (DPR) is 125.25%.
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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of DCT. PNC Financial Services Group Inc. raised its holdings in 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 purchasing an additional 333 shares in the last quarter. Blue Sky Asset Management LLC bought a new position in DCT Industrial Trust in the first quarter worth $189,000. Oakbrook Investments LLC bought a new position in DCT Industrial Trust in the second quarter worth $202,000. Oppenheimer Asset Management Inc. bought a new position in DCT Industrial Trust in the first quarter worth $288,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in DCT Industrial Trust in the second quarter worth $303,000. Institutional investors and hedge funds own 95.42% 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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