Shares of DCT Industrial Trust Inc (NYSE:DCT) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $60.93 and last traded at $60.72, with a volume of 406200 shares traded. The stock had previously closed at $59.75.
A number of research firms have recently issued reports on DCT. BMO Capital Markets reaffirmed a “market perform” rating and set a $61.00 price objective on shares of DCT Industrial Trust in a report on Monday, September 11th. Citigroup Inc. lifted their price objective on shares of DCT Industrial Trust from $56.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday. UBS AG downgraded shares of DCT Industrial Trust from a “neutral” rating to a “sell” rating and set a $55.00 price objective for the company. in a report on Friday, September 8th. Jefferies Group LLC reissued a “hold” rating and issued a $57.00 price target on shares of DCT Industrial Trust in a research note on Tuesday, October 24th. Finally, Janney Montgomery Scott initiated coverage on shares of DCT Industrial Trust in a research note on Friday, September 29th. They issued a “neutral” rating and a $59.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. DCT Industrial Trust presently has an average rating of “Hold” and a consensus target price of $57.20.
The company has a quick ratio of 1.07, a current ratio of 0.87 and a debt-to-equity ratio of 0.84. The stock has a market cap of $5,564.69, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 6.01 and a beta of 0.95.
DCT Industrial Trust (NYSE:DCT) last issued its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.61 EPS for the quarter, beating the 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 company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share. equities analysts predict that DCT Industrial Trust Inc will post 2.44 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Friday, December 22nd will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.37%. This is an increase from DCT Industrial Trust’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, December 21st. DCT Industrial Trust’s dividend payout ratio is 112.73%.
In other news, Director John C. Okeeffe sold 1,750 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $57.95, for a total transaction of $101,412.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company’s stock.
Large investors have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in shares of DCT Industrial Trust by 13.6% during the first quarter. PNC Financial Services Group Inc. now owns 2,780 shares of the real estate investment trust’s stock valued at $133,000 after acquiring an additional 333 shares during the last quarter. Meeder Asset Management Inc. raised its stake in shares of DCT Industrial Trust by 397.3% during the third quarter. Meeder Asset Management Inc. now owns 2,800 shares of the real estate investment trust’s stock valued at $163,000 after acquiring an additional 2,237 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of DCT Industrial Trust during the third quarter valued at about $176,000. Oakbrook Investments LLC bought a new position in shares of DCT Industrial Trust during the second quarter valued at about $202,000. Finally, Parametrica Management Ltd bought a new position in shares of DCT Industrial Trust during the third quarter valued at about $214,000. 95.47% of the stock is owned by hedge funds and other institutional investors.
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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.
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