Citigroup Trims DCT Industrial Trust (DCT) Target Price to $59.00
DCT Industrial Trust (NYSE:DCT) had its price target trimmed by Citigroup from $60.00 to $59.00 in a research note released on Friday. The brokerage currently has a neutral rating on the real estate investment trust’s stock.
Other research analysts have also recently issued research reports about the company. BMO Capital Markets reaffirmed a hold rating and issued a $60.00 price target on shares of DCT Industrial Trust in a report on Tuesday, January 9th. Zacks Investment Research downgraded shares of DCT Industrial Trust from a buy rating to a hold rating in a research note on Monday, November 27th. Mizuho reissued a hold rating and set a $59.00 target price on shares of DCT Industrial Trust in a research note on Sunday, February 4th. Jefferies Group reissued a hold rating and set a $57.00 target price on shares of DCT Industrial Trust in a research note on Tuesday, October 24th. Finally, SunTrust Banks reissued a hold rating and set a $56.00 target price on shares of DCT Industrial Trust in a research note on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. DCT Industrial Trust presently has a consensus rating of Hold and a consensus target price of $59.20.
DCT Industrial Trust (DCT) traded up $1.69 during midday trading on Friday, hitting $54.38. The company’s stock had a trading volume of 686,956 shares, compared to its average volume of 672,846. The company has a market capitalization of $4,937.44, a PE ratio of 48.99, a P/E/G ratio of 4.76 and a beta of 0.87. DCT Industrial Trust has a 52 week low of $45.47 and a 52 week high of $61.53. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.70 and a quick ratio of 1.07.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 11th. Shareholders of record on Friday, March 30th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Wednesday, March 28th. DCT Industrial Trust’s dividend payout ratio (DPR) is currently 129.73%.
A number of large investors have recently made changes to their positions in DCT. Wells Fargo & Company MN raised its stake in DCT Industrial Trust by 74.9% during the 2nd quarter. Wells Fargo & Company MN now owns 60,015 shares of the real estate investment trust’s stock valued at $3,207,000 after purchasing an additional 25,694 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of DCT Industrial Trust by 8.8% in the second quarter. PNC Financial Services Group Inc. now owns 3,026 shares of the real estate investment trust’s stock worth $161,000 after acquiring an additional 246 shares during the last quarter. Royal Bank of Canada increased its stake in shares of DCT Industrial Trust by 952.7% in the second quarter. Royal Bank of Canada now owns 8,822 shares of the real estate investment trust’s stock worth $471,000 after acquiring an additional 7,984 shares during the last quarter. Shelton Capital Management acquired a new position in shares of DCT Industrial Trust in the second quarter worth $332,000. Finally, Janus Henderson Group PLC increased its stake in shares of DCT Industrial Trust by 78.3% in the second quarter. Janus Henderson Group PLC now owns 283,175 shares of the real estate investment trust’s stock worth $15,132,000 after acquiring an additional 124,395 shares during the last quarter. 95.01% of the stock is currently owned by institutional investors.
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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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