DCT Industrial Trust Inc (NYSE:DCT) had its target price lifted by Citigroup Inc. from $56.00 to $60.00 in a research note published on Friday. Citigroup Inc. currently has a neutral rating on the real estate investment trust’s stock.
DCT has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of DCT Industrial Trust from a hold rating to a buy rating and set a $67.00 price objective for the company in a research report on Wednesday, November 8th. BidaskClub upgraded shares of DCT Industrial Trust from a hold rating to a buy rating in a research report on Thursday, August 17th. KeyCorp restated a buy rating on shares of DCT Industrial Trust in a research report on Friday, October 20th. Stifel Nicolaus reiterated a buy rating and set a $60.00 price target (up from $58.00) on shares of DCT Industrial Trust in a research report on Wednesday, August 9th. Finally, SunTrust Banks, Inc. reiterated a hold rating and set a $56.00 price target on shares of DCT Industrial Trust in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $57.20.
Shares of DCT Industrial Trust (DCT) traded up $0.97 during trading hours on Friday, reaching $60.72. 406,200 shares of the company were exchanged, compared to its average volume of 485,777. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.07 and a current ratio of 0.87. The firm has a market capitalization of $5,564.69, a P/E ratio of 24.79, a P/E/G ratio of 6.01 and a beta of 0.95. DCT Industrial Trust has a 1 year low of $42.96 and a 1 year high of $60.82.
DCT Industrial Trust (NYSE:DCT) last announced its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. The firm had revenue of $105.18 million during the quarter, compared to the consensus estimate of $105.96 million. DCT Industrial Trust had a net margin of 24.39% and a return on equity of 5.16%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. analysts predict that DCT Industrial Trust will post 2.44 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Friday, December 22nd will be paid a $0.36 dividend. This is a boost from DCT Industrial Trust’s previous quarterly dividend of $0.31. This represents a $1.44 annualized dividend and a yield of 2.37%. The ex-dividend date is Thursday, December 21st. DCT Industrial Trust’s payout ratio is presently 112.73%.
In other DCT Industrial Trust news, Director John C. Okeeffe sold 1,750 shares of DCT Industrial Trust 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in DCT Industrial Trust by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 14,465,962 shares of the real estate investment trust’s stock worth $773,062,000 after acquiring an additional 96,295 shares during the period. Bank of New York Mellon Corp lifted its stake in DCT Industrial Trust by 37.4% during the second quarter. Bank of New York Mellon Corp now owns 1,574,329 shares of the real estate investment trust’s stock valued at $84,132,000 after purchasing an additional 428,218 shares during the last quarter. Standard Life Investments LTD lifted its stake in DCT Industrial Trust by 18.6% during the second quarter. Standard Life Investments LTD now owns 1,538,501 shares of the real estate investment trust’s stock valued at $82,209,000 after purchasing an additional 241,699 shares during the last quarter. PGGM Investments lifted its stake in DCT Industrial Trust by 2.0% during the third quarter. PGGM Investments now owns 1,408,000 shares of the real estate investment trust’s stock valued at $81,551,000 after purchasing an additional 28,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in DCT Industrial Trust by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,359,409 shares of the real estate investment trust’s stock valued at $78,737,000 after purchasing an additional 31,086 shares during the last quarter. 95.47% of the stock is owned by hedge funds and other 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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