Stevens Capital Management LP Buys 43,434 Shares of DCT Industrial Trust Inc (DCT)
Stevens Capital Management LP boosted its stake in shares of DCT Industrial Trust Inc (NYSE:DCT) by 249.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,818 shares of the real estate investment trust’s stock after purchasing an additional 43,434 shares during the quarter. Stevens Capital Management LP owned approximately 0.07% of DCT Industrial Trust worth $3,250,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of DCT. Nisa Investment Advisors LLC increased its holdings in DCT Industrial Trust by 34.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 7,150 shares of the real estate investment trust’s stock worth $344,000 after purchasing an additional 1,850 shares during the period. Wells Fargo & Company MN increased its holdings in DCT Industrial Trust by 6.2% during the 1st quarter. Wells Fargo & Company MN now owns 34,321 shares of the real estate investment trust’s stock worth $1,652,000 after purchasing an additional 2,010 shares during the period. Canada Pension Plan Investment Board increased its holdings in DCT Industrial Trust by 83.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 18,200 shares of the real estate investment trust’s stock worth $876,000 after purchasing an additional 8,300 shares during the period. Bank of New York Mellon Corp increased its holdings in DCT Industrial Trust by 8.1% during the 1st quarter. Bank of New York Mellon Corp now owns 1,146,111 shares of the real estate investment trust’s stock worth $55,150,000 after purchasing an additional 86,026 shares during the period. Finally, Comerica Bank increased its holdings in DCT Industrial Trust by 5.4% during the 1st quarter. Comerica Bank now owns 70,914 shares of the real estate investment trust’s stock worth $3,622,000 after purchasing an additional 3,662 shares during the period. Institutional investors own 95.42% of the company’s stock.
In related news, Director John C. Okeeffe sold 1,750 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $57.95, for a total value of $101,412.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.
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DCT has been the topic of several recent research reports. Zacks Investment Research upgraded DCT Industrial Trust from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Thursday, June 1st. Stifel Nicolaus increased their price objective on DCT Industrial Trust from $55.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, June 14th. BidaskClub downgraded DCT Industrial Trust from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 21st. Finally, Jefferies Group LLC started coverage on DCT Industrial Trust in a report on Friday, June 23rd. They issued a “hold” rating and a $53.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $53.89.
DCT Industrial Trust Inc (NYSE DCT) opened at 59.49 on Wednesday. The stock has a 50 day moving average price of $57.63 and a 200-day moving average price of $53.15. DCT Industrial Trust Inc has a 12-month low of $42.96 and a 12-month high of $60.02. The stock has a market cap of $5.54 billion, a P/E ratio of 59.61 and a beta of 0.95.
DCT Industrial Trust (NYSE:DCT) last released its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.60 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. DCT Industrial Trust had a return on equity of 4.69% and a net margin of 22.20%. The business had revenue of $104.50 million for the quarter, compared to analysts’ expectations of $106.54 million. During the same quarter in the previous year, the firm posted $0.54 earnings per share. The company’s revenue was up 9.0% compared to the same quarter last year. On average, equities analysts expect that DCT Industrial Trust Inc will post $0.88 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Friday, October 6th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Thursday, October 5th. DCT Industrial Trust’s dividend payout ratio (DPR) is 125.25%.
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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