DCT Industrial Trust Inc (DCT) Releases FY17 Earnings Guidance
DCT Industrial Trust Inc (NYSE:DCT) updated its FY17 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.44-2.46 for the period, compared to the Thomson Reuters consensus estimate of $2.43.
A number of brokerages have recently issued reports on DCT. Stifel Nicolaus restated a buy rating and set a $60.00 price objective (up from $58.00) on shares of DCT Industrial Trust in a research report on Wednesday, August 9th. Jefferies Group LLC reiterated a hold rating and issued a $57.00 target price on shares of DCT Industrial Trust in a report on Tuesday, October 24th. Janney Montgomery Scott initiated coverage on DCT Industrial Trust in a report on Friday, September 29th. They issued a neutral rating and a $59.00 target price for the company. SunTrust Banks, Inc. reiterated a hold rating and issued a $56.00 target price on shares of DCT Industrial Trust in a report on Tuesday, October 24th. Finally, KeyCorp reiterated a buy rating on shares of DCT Industrial Trust in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $55.55.
DCT Industrial Trust Inc (NYSE:DCT) traded up $0.61 during midday trading on Friday, hitting $59.21. The stock had a trading volume of 516,828 shares, compared to its average volume of 521,593. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market cap of $5.49 billion, a P/E ratio of 24.49, a P/E/G ratio of 5.96 and a beta of 0.95.
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 5.18%. 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. sell-side analysts expect that DCT Industrial Trust Inc will post 2.43 earnings per share for the current fiscal year.
The company 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. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Thursday, December 21st. This is a positive change from DCT Industrial Trust’s previous quarterly dividend of $0.31. DCT Industrial Trust’s payout ratio is currently 112.73%.
In other news, Director John C. Okeeffe sold 1,750 shares of the business’s stock in a transaction that occurred 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 link. Insiders own 1.50% of the company’s stock.
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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