DCT Industrial Trust Inc. (NYSE:DCT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $55.00 price objective on the stock. Zacks Investment Research’s price target indicates a potential upside of 13.29% from the stock’s current price.
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 analysts have also recently issued reports about the company. BTIG Research began coverage on DCT Industrial Trust in a research note on Thursday, August 25th. They issued a “neutral” rating on the stock. Capital One Financial Corp. cut DCT Industrial Trust from an “equal weight” rating to an “underweight” rating in a research note on Monday, August 8th. Citigroup Inc. raised their target price on DCT Industrial Trust from $40.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, July 7th. Finally, Mizuho began coverage on DCT Industrial Trust in a research note on Wednesday, September 28th. They issued a “neutral” rating and a $51.00 target price on the stock. 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. The company currently has an average rating of “Hold” and a consensus price target of $45.13.
Shares of DCT Industrial Trust (NYSE:DCT) opened at 48.55 on Thursday. DCT Industrial Trust has a one year low of $32.88 and a one year high of $50.57. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 41.82 and a beta of 0.95. The firm’s 50-day moving average price is $48.52 and its 200-day moving average price is $45.02.
DCT Industrial Trust (NYSE:DCT) last posted its earnings results on Thursday, August 4th. The company reported $0.54 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.54. The company had revenue of $95.90 million for the quarter, compared to analysts’ expectations of $94.94 million. DCT Industrial Trust had a return on equity of 5.57% and a net margin of 28.44%. DCT Industrial Trust’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. Analysts anticipate that DCT Industrial Trust will post $2.19 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Friday, October 7th will be issued a dividend of $0.29 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.16 annualized dividend and a dividend yield of 2.39%. DCT Industrial Trust’s payout ratio is 99.15%.
Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its position in DCT Industrial Trust by 14.0% in the second quarter. FMR LLC now owns 13,490,232 shares of the company’s stock valued at $648,071,000 after buying an additional 1,656,660 shares during the last quarter. BlackRock Fund Advisors raised its position in DCT Industrial Trust by 39.1% in the second quarter. BlackRock Fund Advisors now owns 3,595,722 shares of the company’s stock valued at $172,738,000 after buying an additional 1,010,106 shares during the last quarter. Goldman Sachs Group Inc. raised its position in DCT Industrial Trust by 216.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,336,145 shares of the company’s stock valued at $52,738,000 after buying an additional 913,519 shares during the last quarter. State Street Corp raised its position in DCT Industrial Trust by 23.9% in the second quarter. State Street Corp now owns 3,858,325 shares of the company’s stock valued at $185,356,000 after buying an additional 743,633 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in DCT Industrial Trust by 94.7% in the second quarter. Bank of New York Mellon Corp now owns 1,030,825 shares of the company’s stock valued at $49,520,000 after buying an additional 501,257 shares during the last quarter. Hedge funds and other institutional investors own 98.47% of the company’s stock.
About DCT Industrial Trust
DCT Industrial Trust Inc (DCT) is an industrial real estate company. The Company is engaged in the acquisition, development, leasing and management of bulk distribution and light industrial properties located in distribution markets in the United States. The Company operates in three segments: East, Central and West.
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