DCT Industrial Trust Inc. (DCT) Rating Increased to Buy at Zacks Investment Research
DCT Industrial Trust Inc. (NYSE:DCT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $55.00 price objective on the stock. Zacks Investment Research’s price target suggests a potential upside of 13.29% from the company’s previous close.
According to Zacks, “DCT INDUSTRIAL is a leading industrial real estate company that owns, operates and develops high quality bulk distribution and light industrial properties in high volume distribution markets in the U.S. and Mexico. “
A number of other equities research analysts have also weighed in on the company. Mizuho initiated coverage on DCT Industrial Trust in a research report on Wednesday, September 28th. They set a “neutral” rating and a $51.00 price objective on the stock. BTIG Research initiated coverage on DCT Industrial Trust in a research report on Thursday, August 25th. They issued a “neutral” rating on the stock. Citigroup Inc. upped their price target on DCT Industrial Trust from $40.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, July 7th. Finally, Capital One Financial Corp. lowered DCT Industrial Trust from an “equal weight” rating to an “underweight” rating in a research report on Monday, August 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $45.13.
DCT Industrial Trust (NYSE:DCT) opened at 48.55 on Thursday. DCT Industrial Trust has a 12-month low of $32.88 and a 12-month high of $50.57. The company’s 50 day moving average price is $48.52 and its 200-day moving average price is $45.02. The company has a market capitalization of $4.38 billion, a P/E ratio of 41.82 and a beta of 0.95.
DCT Industrial Trust (NYSE:DCT) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. The business had revenue of $95.90 million for the quarter, compared to analyst estimates of $94.94 million. DCT Industrial Trust had a return on equity of 5.57% and a net margin of 28.44%. DCT Industrial Trust’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS. Equities analysts forecast that DCT Industrial Trust will post $2.19 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Friday, October 7th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Wednesday, October 5th. DCT Industrial Trust’s dividend payout ratio is 99.15%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services Inc increased its position in DCT Industrial Trust by 1.8% in the first quarter. Commonwealth Equity Services Inc now owns 20,145 shares of the company’s stock worth $795,000 after buying an additional 360 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its position in DCT Industrial Trust by 48.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,361 shares of the company’s stock worth $409,000 after buying an additional 3,375 shares during the period. TIAA CREF Investment Management LLC increased its position in DCT Industrial Trust by 13.2% in the first quarter. TIAA CREF Investment Management LLC now owns 353,884 shares of the company’s stock worth $13,968,000 after buying an additional 41,363 shares during the period. Teachers Advisors Inc. increased its position in DCT Industrial Trust by 327.9% in the first quarter. Teachers Advisors Inc. now owns 579,159 shares of the company’s stock worth $22,859,000 after buying an additional 443,825 shares during the period. Finally, Prudential Financial Inc. increased its position in DCT Industrial Trust by 10.8% in the first quarter. Prudential Financial Inc. now owns 19,548 shares of the company’s stock worth $772,000 after buying an additional 1,900 shares during the period. 98.47% of the stock is currently owned by institutional investors and hedge funds.
DCT Industrial Trust Company Profile
DCT Industrial Trust Inc (DCT) is an industrial real estate company. The Company is engaged in the acquisition, development, leasing and management of bulk distribution and light industrial properties located in distribution markets in the United States. The Company operates in three segments: East, Central and West.
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