Standard Life Investments LTD boosted its stake in shares of DCT Industrial Trust Inc. (NYSE:DCT) by 47.8% during the second quarter, Holdings Channel reports. The fund owned 292,001 shares of the company’s stock after buying an additional 94,379 shares during the period. Standard Life Investments LTD’s holdings in DCT Industrial Trust were worth $14,027,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. increased its stake in DCT Industrial Trust by 7.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,478,220 shares of the company’s stock valued at $137,285,000 after buying an additional 245,228 shares during the last quarter. State Street Corp increased its stake in DCT Industrial Trust by 15.5% in the first quarter. State Street Corp now owns 3,114,692 shares of the company’s stock valued at $122,937,000 after buying an additional 418,039 shares during the last quarter. Shinko Asset Management Co. Ltd. increased its stake in DCT Industrial Trust by 28.2% in the second quarter. Shinko Asset Management Co. Ltd. now owns 1,804,584 shares of the company’s stock valued at $86,692,000 after buying an additional 397,031 shares during the last quarter. Goldman Sachs Group Inc. increased its stake 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. Finally, Geode Capital Management LLC increased its stake in DCT Industrial Trust by 8.3% in the first quarter. Geode Capital Management LLC now owns 701,049 shares of the company’s stock valued at $27,670,000 after buying an additional 53,879 shares during the last quarter. Hedge funds and other institutional investors own 98.47% of the company’s stock.
DCT Industrial Trust Inc. (NYSE:DCT) remained flat at $45.65 during trading on Thursday. 443,123 shares of the stock traded hands. The company has a market cap of $4.12 billion, a P/E ratio of 39.32 and a beta of 1.00. The company has a 50 day moving average of $48.37 and a 200 day moving average of $45.24. DCT Industrial Trust Inc. has a 52 week low of $32.88 and a 52 week high of $50.57.
DCT Industrial Trust (NYSE:DCT) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. The business earned $95.90 million during 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%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.47 EPS. On average, equities analysts anticipate that DCT Industrial Trust Inc. will post $2.19 EPS for the current fiscal year.
The firm also recently declared 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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Wednesday, October 5th. DCT Industrial Trust’s dividend payout ratio is presently 99.15%.
DCT has been the subject of several recent research reports. BTIG Research initiated coverage on DCT Industrial Trust in a report on Thursday, August 25th. They issued a “neutral” rating for the company. Zacks Investment Research upgraded DCT Industrial Trust from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Thursday, September 29th. Citigroup Inc. lifted their price objective on DCT Industrial Trust from $40.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. Capital One Financial Corp. downgraded shares of DCT Industrial Trust from an “equal weight” rating to an “underweight” rating in a report on Monday, August 8th. Finally, Mizuho initiated coverage on shares of DCT Industrial Trust in a report on Wednesday, September 28th. They issued a “neutral” rating and a $51.00 target price for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $45.13.
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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