DCT Industrial Trust Inc (DCT) Hits New 12-Month High at $57.51
DCT Industrial Trust Inc (NYSE:DCT) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $57.51 and last traded at $57.49, with a volume of 87,930 shares trading hands. The stock had previously closed at $57.12.
A number of equities research analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on DCT Industrial Trust from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, June 14th. Zacks Investment Research raised DCT Industrial Trust from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Friday, June 16th. Finally, BidaskClub lowered DCT Industrial Trust from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 21st. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. DCT Industrial Trust has a consensus rating of “Hold” and an average price target of $52.71.
The company has a market cap of $5.36 billion, a PE ratio of 57.68 and a beta of 0.95. The firm has a 50-day moving average of $54.95 and a 200-day moving average of $51.11.
DCT Industrial Trust (NYSE:DCT) last announced its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.60. The business had revenue of $104.50 million for the quarter, compared to analyst estimates of $106.54 million. DCT Industrial Trust had a return on equity of 4.69% and a net margin of 22.20%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share. On average, equities research analysts forecast that DCT Industrial Trust Inc will post $0.84 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Friday, October 6th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.24 annualized dividend and a yield of 2.17%. DCT Industrial Trust’s payout ratio is currently 125.25%.
In other news, insider Mark Skomal sold 1,320 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $53.66, for a total value of $70,831.20. Following the transaction, the insider now owns 1,167 shares in the company, valued at $62,621.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew T. Murphy sold 7,481 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $52.90, for a total value of $395,744.90. Following the completion of the transaction, the chief financial officer now owns 37 shares in the company, valued at approximately $1,957.30. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio raised its position in DCT Industrial Trust by 4.6% in the second quarter. Public Employees Retirement System of Ohio now owns 143,752 shares of the real estate investment trust’s stock worth $7,682,000 after buying an additional 6,265 shares in the last quarter. Verition Fund Management LLC bought a new position in DCT Industrial Trust during the second quarter worth $453,000. Ameritas Investment Partners Inc. raised its position in DCT Industrial Trust by 1.0% in the second quarter. Ameritas Investment Partners Inc. now owns 43,608 shares of the real estate investment trust’s stock worth $2,330,000 after buying an additional 418 shares in the last quarter. 361 Capital LLC raised its position in DCT Industrial Trust by 94.9% in the second quarter. 361 Capital LLC now owns 31,952 shares of the real estate investment trust’s stock worth $1,708,000 after buying an additional 15,560 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in DCT Industrial Trust by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 135,753 shares of the real estate investment trust’s stock worth $7,255,000 after buying an additional 2,325 shares in the last quarter. Institutional investors own 96.06% of the company’s stock.
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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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