DCT Industrial Trust Inc. (DCT) Rating Reiterated by JPMorgan Chase & Co.
DCT Industrial Trust Inc. (NYSE:DCT)‘s stock had its “buy” rating reiterated by JPMorgan Chase & Co. in a note issued to investors on Friday.
Several other research firms also recently weighed in on DCT. Capital One Financial Corp. upgraded shares of DCT Industrial Trust from an “underweight” rating to an “equal weight” rating in a report on Monday, October 17th. BTIG Research started coverage on shares of DCT Industrial Trust in a report on Thursday, August 25th. They issued a “neutral” rating for the company. Zacks Investment Research upgraded shares of DCT Industrial Trust from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Thursday, September 29th. Finally, Mizuho dropped their target price on shares of DCT Industrial Trust from $51.00 to $48.00 and set a “neutral” rating for the company in a report on Monday, November 7th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $44.75.
Shares of DCT Industrial Trust (NYSE:DCT) opened at 44.15 on Friday. DCT Industrial Trust has a one year low of $32.88 and a one year high of $50.57. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 35.66 and a beta of 0.96. The stock’s 50 day moving average price is $46.44 and its 200 day moving average price is $46.47.
DCT Industrial Trust (NYSE:DCT) last posted its earnings results on Thursday, November 3rd. The company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.05. DCT Industrial Trust had a net margin of 29.42% and a return on equity of 5.88%. The firm earned $100.27 million during the quarter, compared to the consensus estimate of $63.71 million. During the same quarter last year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. Analysts forecast that DCT Industrial Trust will post $2.23 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 5th. Investors of record on Friday, December 23rd will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, December 21st. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.81%. This is an increase from DCT Industrial Trust’s previous quarterly dividend of $0.29. DCT Industrial Trust’s payout ratio is presently 92.80%.
Several institutional investors have recently modified their holdings of DCT. Advisors Asset Management Inc. purchased a new position in shares of DCT Industrial Trust during the second quarter worth approximately $110,000. Public Employees Retirement Association of Colorado purchased a new position in shares of DCT Industrial Trust during the second quarter worth approximately $139,000. Daiwa Securities Group Inc. increased its position in shares of DCT Industrial Trust by 6.5% in the second quarter. Daiwa Securities Group Inc. now owns 3,300 shares of the company’s stock worth $159,000 after buying an additional 200 shares during the last quarter. World Asset Management Inc purchased a new position in shares of DCT Industrial Trust during the second quarter worth approximately $207,000. Finally, GWM Advisors LLC purchased a new position in shares of DCT Industrial Trust during the second quarter worth approximately $212,000. Hedge funds and other institutional investors own 98.98% of the company’s stock.
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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