BMO Capital Markets Reaffirms Market Perform Rating for DCT Industrial Trust Inc (DCT)

BMO Capital Markets reissued their market perform rating on shares of DCT Industrial Trust Inc (NYSE:DCT) in a report issued on Monday. They currently have a $61.00 price objective on the real estate investment trust’s stock.

Other analysts also recently issued reports about the company. BidaskClub downgraded DCT Industrial Trust from a strong-buy rating to a buy rating in a research report on Wednesday, June 21st. Zacks Investment Research downgraded DCT Industrial Trust from a buy rating to a hold rating in a research report on Tuesday, June 6th. UBS AG downgraded DCT Industrial Trust from a neutral rating to a sell rating and set a $55.00 price objective for the company. in a research report on Friday, September 8th. Stifel Nicolaus upped their price objective on DCT Industrial Trust from $55.00 to $58.00 and gave the stock a buy rating in a research report on Wednesday, June 14th. Finally, Citigroup Inc. restated a neutral rating and set a $52.00 price objective (up from $49.00) on shares of DCT Industrial Trust in a research report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $53.89.

DCT Industrial Trust (NYSE DCT) opened at 58.62 on Monday. DCT Industrial Trust has a 12-month low of $42.96 and a 12-month high of $60.02. The company has a 50 day moving average price of $57.19 and a 200-day moving average price of $52.74. The company has a market capitalization of $5.46 billion, a PE ratio of 58.74 and a beta of 0.95.

DCT Industrial Trust (NYSE:DCT) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.60. The company had revenue of $104.50 million for the quarter, compared to analyst estimates of $106.54 million. DCT Industrial Trust had a return on equity of 4.69% and a net margin of 22.20%. DCT Industrial Trust’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 EPS. On average, analysts anticipate that DCT Industrial Trust will post $0.88 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Friday, October 6th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.24 annualized dividend and a dividend yield of 2.12%. DCT Industrial Trust’s dividend payout ratio is currently 125.25%.

In other DCT Industrial Trust news, Director John C. Okeeffe sold 1,750 shares of the stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $57.95, for a total value of $101,412.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of DCT. BlackRock Inc. raised its position in DCT Industrial Trust by 2,315.3% in the first quarter. BlackRock Inc. now owns 10,598,157 shares of the real estate investment trust’s stock valued at $509,986,000 after purchasing an additional 10,159,364 shares during the last quarter. Morgan Stanley raised its position in DCT Industrial Trust by 180.5% in the first quarter. Morgan Stanley now owns 1,516,648 shares of the real estate investment trust’s stock valued at $72,981,000 after purchasing an additional 975,957 shares during the last quarter. Vanguard Group Inc. raised its position in DCT Industrial Trust by 3.9% in the first quarter. Vanguard Group Inc. now owns 14,369,667 shares of the real estate investment trust’s stock valued at $691,469,000 after purchasing an additional 535,299 shares during the last quarter. PGGM Investments raised its position 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 valued at $73,747,000 after purchasing an additional 465,333 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position 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 valued at $84,132,000 after purchasing an additional 428,218 shares during the last quarter. Hedge funds and other institutional investors own 95.42% of the company’s stock.

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.

Analyst Recommendations for DCT Industrial Trust (NYSE:DCT)

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