DCT Industrial Trust Inc (DCT) Price Target Raised to $60.00
DCT Industrial Trust Inc (NYSE:DCT) had its price objective boosted by Citigroup Inc. from $56.00 to $60.00 in a research note published on Friday morning. They currently have a neutral rating on the real estate investment trust’s stock.
A number of other research firms have also weighed in on DCT. SunTrust Banks, Inc. reissued a hold rating and issued a $56.00 price objective on shares of DCT Industrial Trust in a research report on Tuesday, October 24th. Zacks Investment Research raised shares of DCT Industrial Trust from a hold rating to a buy rating and set a $66.00 price objective for the company in a research report on Tuesday, October 10th. BMO Capital Markets reissued a market perform rating and issued a $61.00 price objective on shares of DCT Industrial Trust in a research report on Monday, September 11th. KeyCorp reissued a buy rating on shares of DCT Industrial Trust in a research report on Friday, October 20th. Finally, UBS AG lowered shares of DCT Industrial Trust from a neutral rating to a sell rating and set a $55.00 price objective for the company. in a research report on Friday, September 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $57.20.
DCT Industrial Trust (NYSE DCT) traded down $0.03 during trading hours on Friday, hitting $59.75. 371,400 shares of the stock were exchanged, compared to its average volume of 486,142. The company has a current ratio of 0.87, a quick ratio of 1.07 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $5,564.69, a price-to-earnings ratio of 24.79, a PEG ratio of 6.01 and a beta of 0.95. DCT Industrial Trust has a twelve month low of $42.96 and a twelve month high of $60.74.
DCT Industrial Trust (NYSE:DCT) last posted its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $105.18 million during the quarter, compared to analyst estimates of $105.96 million. DCT Industrial Trust had a net margin of 24.39% and a return on equity of 5.16%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 earnings per share. equities analysts expect that DCT Industrial Trust will post 2.44 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Friday, December 22nd will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $1.44 annualized dividend and a dividend yield of 2.41%. This is a positive change from DCT Industrial Trust’s previous quarterly dividend of $0.31. DCT Industrial Trust’s dividend payout ratio is presently 112.73%.
In other news, Director John C. Okeeffe sold 1,750 shares of the stock in a transaction on Friday, August 25th. The shares were sold at an average price of $57.95, for a total value of $101,412.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in shares of DCT Industrial Trust by 13.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,780 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 333 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of DCT Industrial Trust by 397.3% in the third quarter. Meeder Asset Management Inc. now owns 2,800 shares of the real estate investment trust’s stock valued at $163,000 after purchasing an additional 2,237 shares during the period. Quantbot Technologies LP purchased a new position in shares of DCT Industrial Trust in the third quarter valued at $176,000. Oakbrook Investments LLC purchased a new position in shares of DCT Industrial Trust in the second quarter valued at $202,000. Finally, Parametrica Management Ltd purchased a new position in shares of DCT Industrial Trust in the third quarter valued at $214,000. 95.47% of the stock is owned by institutional investors.
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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