DCT Industrial Trust (NYSE:DCT) had its price objective raised by Citigroup from $56.00 to $60.00 in a research report report published on Friday, November 10th. The brokerage currently has a neutral rating on the real estate investment trust’s stock.
Several other brokerages have also recently weighed in on DCT. Zacks Investment Research raised DCT Industrial Trust from a hold rating to a buy rating and set a $67.00 price target for the company in a research note on Wednesday, November 8th. BMO Capital Markets reissued a market perform rating and issued a $61.00 price target on shares of DCT Industrial Trust in a research note on Monday, September 11th. UBS cut DCT Industrial Trust from a neutral rating to a sell rating and set a $55.00 price target for the company. in a research note on Friday, September 8th. KeyCorp reissued a buy rating on shares of DCT Industrial Trust in a research note on Friday, October 20th. Finally, Jefferies Group reissued a hold rating and issued a $57.00 price target on shares of DCT Industrial Trust in a research note on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. DCT Industrial Trust presently has a consensus rating of Hold and a consensus target price of $57.40.
Shares of DCT Industrial Trust (DCT) traded down $0.49 on Friday, reaching $60.10. The company’s stock had a trading volume of 339,800 shares, compared to its average volume of 480,197. DCT Industrial Trust has a fifty-two week low of $43.95 and a fifty-two week high of $61.53. 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 cap of $5,663.41, a PE ratio of 25.23, a PEG ratio of 5.89 and a beta of 0.95.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Friday, December 22nd will be paid a dividend of $0.36 per share. The ex-dividend date is Thursday, December 21st. This represents a $1.44 annualized dividend and a yield of 2.40%. This is a boost from DCT Industrial Trust’s previous quarterly dividend of $0.31. DCT Industrial Trust’s dividend payout ratio (DPR) is currently 112.73%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DCT. Principal Financial Group Inc. grew its stake in DCT Industrial Trust by 207.4% during the third quarter. Principal Financial Group Inc. now owns 1,357,508 shares of the real estate investment trust’s stock worth $78,627,000 after purchasing an additional 915,856 shares during the period. PGGM Investments boosted its holdings in DCT Industrial Trust by 50.9% in the second quarter. PGGM Investments now owns 1,380,000 shares of the real estate investment trust’s stock worth $73,747,000 after acquiring an additional 465,333 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in DCT Industrial Trust by 37.4% in the second quarter. Bank of New York Mellon Corp now owns 1,574,329 shares of the real estate investment trust’s stock worth $84,132,000 after acquiring an additional 428,218 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in DCT Industrial Trust by 43.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,326,546 shares of the real estate investment trust’s stock worth $76,834,000 after acquiring an additional 401,099 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in DCT Industrial Trust in the third quarter worth approximately $15,878,000. 95.17% of the stock is owned by institutional investors and hedge funds.
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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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