Citigroup Raises DCT Industrial Trust (DCT) Price Target to $68.00
DCT Industrial Trust (NYSE:DCT) had its price objective raised by Citigroup from $64.00 to $68.00 in a research report report published on Wednesday morning. The brokerage currently has a neutral rating on the real estate investment trust’s stock.
A number of other equities research analysts have also issued reports on DCT. BMO Capital Markets restated a hold rating and issued a $66.00 price target on shares of DCT Industrial Trust in a research report on Thursday, August 2nd. Zacks Investment Research upgraded DCT Industrial Trust from a hold rating to a buy rating and set a $74.00 price target for the company in a research report on Tuesday, July 3rd. Finally, Wells Fargo & Co lowered DCT Industrial Trust from an outperform rating to a market perform rating and set a $67.00 price target for the company. in a research report on Monday, May 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $62.10.
Shares of DCT Industrial Trust stock traded down $0.82 during mid-day trading on Wednesday, reaching $65.73. 688,576 shares of the stock traded hands, compared to its average volume of 666,573. DCT Industrial Trust has a fifty-two week low of $52.58 and a fifty-two week high of $68.37. The stock has a market capitalization of $6.27 billion, a P/E ratio of 26.62, a PEG ratio of 6.45 and a beta of 0.83. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.83 and a quick ratio of 1.25.
A number of institutional investors have recently modified their holdings of DCT. Boston Partners purchased a new position in DCT Industrial Trust in the first quarter worth approximately $102,083,000. Centersquare Investment Management LLC purchased a new position in DCT Industrial Trust in the first quarter worth approximately $64,175,000. Alpine Associates Management Inc. purchased a new position in DCT Industrial Trust in the second quarter worth approximately $49,049,000. Water Island Capital LLC purchased a new position in DCT Industrial Trust in the second quarter worth approximately $47,804,000. Finally, Russell Investments Group Ltd. grew its position in DCT Industrial Trust by 466.8% in the first quarter. Russell Investments Group Ltd. now owns 434,346 shares of the real estate investment trust’s stock worth $24,455,000 after acquiring an additional 357,712 shares during the period. Institutional investors own 95.31% of the company’s stock.
DCT Industrial Trust Company Profile
DCT Industrial is a leading logistics real estate company specializing in the ownership, development, acquisition, leasing and management of bulk-distribution and light-industrial properties in high-demand distribution markets in the United States. DCT's actively-managed portfolio is strategically located near population centers and well-positioned to take advantage of market dynamics.
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