Brokerages Set DCT Industrial Trust Inc. (DCT) Target Price at $44.75
DCT Industrial Trust Inc. (NYSE:DCT) has earned a consensus recommendation of “Hold” from the eleven research firms that are covering the company. Seven research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $44.75.
Several equities analysts have weighed in on DCT shares. Zacks Investment Research upgraded DCT Industrial Trust from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Thursday, September 29th. Capital One Financial Corp. upgraded DCT Industrial Trust from an “underweight” rating to an “equal weight” rating in a report on Monday, October 17th. Mizuho started coverage on DCT Industrial Trust in a report on Wednesday, September 28th. They set a “neutral” rating and a $51.00 price target for the company. JPMorgan Chase & Co. restated a “buy” rating on shares of DCT Industrial Trust in a report on Friday, November 11th. Finally, BTIG Research started coverage on DCT Industrial Trust in a report on Thursday, August 25th. They set a “neutral” rating for the company.
DCT Industrial Trust (NYSE:DCT) opened at 45.06 on Friday. DCT Industrial Trust has a 1-year low of $32.88 and a 1-year high of $50.57. The stock’s 50 day moving average price is $45.58 and its 200 day moving average price is $46.62. The stock has a market capitalization of $4.10 billion, a PE ratio of 36.40 and a beta of 0.96.
DCT Industrial Trust (NYSE:DCT) last released its earnings results on Thursday, November 3rd. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.05. DCT Industrial Trust had a return on equity of 5.88% and a net margin of 29.42%. The firm earned $100.27 million during the quarter, compared to analysts’ expectations of $63.71 million. During the same quarter last year, the business posted $0.50 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. On average, equities research analysts predict that DCT Industrial Trust will post $2.24 earnings per share for the current fiscal year.
The firm also recently declared 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. This is a positive change from DCT Industrial Trust’s previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Wednesday, December 21st. DCT Industrial Trust’s dividend payout ratio (DPR) is currently 92.80%.
Several large investors have recently modified their holdings of DCT. Prudential Financial Inc. raised its stake in shares of 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 in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of DCT Industrial Trust during the first quarter worth about $18,349,000. Legal & General Group Plc raised its stake in shares of DCT Industrial Trust by 2.6% in the first quarter. Legal & General Group Plc now owns 195,769 shares of the company’s stock worth $7,727,000 after buying an additional 4,873 shares in the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of DCT Industrial Trust during the first quarter worth about $1,200,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of DCT Industrial Trust by 0.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 66,995 shares of the company’s stock worth $2,644,000 after buying an additional 326 shares in the last quarter. 98.84% 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 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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