$106.49 Million in Sales Expected for DCT Industrial Trust Inc (DCT) This Quarter
Equities analysts expect DCT Industrial Trust Inc (NYSE:DCT) to report $106.49 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for DCT Industrial Trust’s earnings, with the highest sales estimate coming in at $107.27 million and the lowest estimate coming in at $105.64 million. DCT Industrial Trust posted sales of $95.60 million in the same quarter last year, which suggests a positive year-over-year growth rate of 11.4%. The business is scheduled to report its next quarterly earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that DCT Industrial Trust will report full-year sales of $106.49 million for the current year, with estimates ranging from $420.00 million to $430.40 million. For the next year, analysts forecast that the business will post sales of $447.25 million per share, with estimates ranging from $436.06 million to $466.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow DCT Industrial Trust.
DCT Industrial Trust (NYSE:DCT) last announced its quarterly earnings data on Thursday, May 4th. The real estate investment trust reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.03. DCT Industrial Trust had a return on equity of 3.19% and a net margin of 14.91%. The business had revenue of $105.90 million during the quarter, compared to the consensus estimate of $103.61 million. During the same period in the previous year, the company posted $0.54 earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis.
Several analysts have recently issued reports on DCT shares. Zacks Investment Research upgraded DCT Industrial Trust from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Wednesday, May 24th. Citigroup Inc reiterated a “neutral” rating and set a $52.00 price target (up previously from $49.00) on shares of DCT Industrial Trust in a research note on Monday, May 15th. Finally, Capital One Financial Corp. upgraded DCT Industrial Trust from an “equal weight” rating to an “overweight” rating and set a $50.00 price target for the company in a research note on Wednesday, February 8th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $51.20.
DCT Industrial Trust (DCT) opened at 53.61 on Wednesday. DCT Industrial Trust has a 12 month low of $42.96 and a 12 month high of $53.92. The stock’s 50 day moving average price is $51.68 and its 200-day moving average price is $48.36. The firm has a market capitalization of $4.93 billion, a P/E ratio of 68.55 and a beta of 0.89.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 12th. Stockholders of record on Friday, June 30th will be paid a dividend of $0.31 per share. The ex-dividend date is Wednesday, June 28th. This represents a $1.24 annualized dividend and a dividend yield of 2.31%. DCT Industrial Trust’s dividend payout ratio (DPR) is presently 120.39%.
In other news, insider Philip L. Hawkins sold 19,731 shares of the company’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $51.39, for a total transaction of $1,013,976.09. Following the completion of the sale, the insider now owns 142,167 shares in the company, valued at approximately $7,305,962.13. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark Skomal sold 1,320 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $53.66, for a total value of $70,831.20. Following the sale, the insider now owns 1,167 shares of the company’s stock, valued at approximately $62,621.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,532 shares of company stock valued at $1,480,552. 1.80% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of DCT. BlackRock Inc. boosted its position in DCT Industrial Trust by 2,315.3% in the first quarter. BlackRock Inc. now owns 10,598,157 shares of the real estate investment trust’s stock valued at $509,986,000 after buying an additional 10,159,364 shares in the last quarter. Morgan Stanley boosted its position in DCT Industrial Trust by 180.5% in the first quarter. Morgan Stanley now owns 1,516,648 shares of the real estate investment trust’s stock valued at $72,981,000 after buying an additional 975,957 shares in the last quarter. Norges Bank acquired a new position in DCT Industrial Trust during the fourth quarter valued at $37,886,000. Vanguard Group Inc. boosted its position in DCT Industrial Trust by 3.9% in the first quarter. Vanguard Group Inc. now owns 14,369,667 shares of the real estate investment trust’s stock valued at $691,469,000 after buying an additional 535,299 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its position in DCT Industrial Trust by 10,631.8% in the first quarter. Public Employees Retirement Association of Colorado now owns 310,255 shares of the real estate investment trust’s stock valued at $14,929,000 after buying an additional 307,364 shares in the last quarter. 97.18% of the stock is owned by institutional investors and hedge funds.
About DCT Industrial Trust
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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