DCT Industrial Trust Inc (NYSE:DCT) - Equities researchers at Jefferies Group lowered their Q2 2017 earnings per share (EPS) estimates for DCT Industrial Trust in a research report issued on Friday. Jefferies Group analyst J. Petersen now anticipates that the real estate investment trust will post earnings per share of $0.58 for the quarter, down from their prior forecast of $0.59. Jefferies Group currently has a “Hold” rating and a $53.00 target price on the stock. Jefferies Group also issued estimates for DCT Industrial Trust’s FY2017 earnings at $2.37 EPS.
DCT Industrial Trust (NYSE:DCT) last posted its quarterly earnings results on Thursday, May 4th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The business had revenue of $105.90 million for the quarter, compared to analyst estimates of $103.61 million. DCT Industrial Trust had a return on equity of 3.67% and a net margin of 17.68%. The business’s revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 EPS.
A number of other brokerages also recently commented on DCT. Zacks Investment Research downgraded DCT Industrial Trust from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Stifel Nicolaus raised 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. BidaskClub downgraded DCT Industrial Trust from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 21st. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $52.00 price objective (up previously from $49.00) on shares of DCT Industrial Trust in a research report on Monday, May 15th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $52.43.
Shares of DCT Industrial Trust (NYSE DCT) opened at 55.24 on Monday. The company’s 50 day moving average price is $53.89 and its 200 day moving average price is $49.96. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of 70.64 and a beta of 0.94. DCT Industrial Trust has a 52-week low of $42.96 and a 52-week high of $55.69.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 12th. Investors of record on Friday, June 30th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.24 annualized dividend and a dividend yield of 2.24%. DCT Industrial Trust’s dividend payout ratio (DPR) is presently 158.97%.
In related news, insider Philip L. Hawkins sold 19,731 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $51.39, for a total transaction of $1,013,976.09. Following the completion of the transaction, the insider now owns 142,167 shares in the company, valued at approximately $7,305,962.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Skomal sold 1,320 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $53.66, for a total value of $70,831.20. Following the transaction, the insider now owns 1,167 shares of the company’s stock, valued at approximately $62,621.22. The disclosure for this sale can be found here. Insiders have sold a total of 28,532 shares of company stock valued at $1,480,552 in the last 90 days. 1.50% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in DCT Industrial Trust by 13.6% in 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 buying an additional 333 shares during the period. Blue Sky Asset Management LLC acquired a new position in shares of DCT Industrial Trust during the first quarter valued at about $189,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of DCT Industrial Trust by 5.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,645 shares of the real estate investment trust’s stock valued at $272,000 after buying an additional 299 shares during the last quarter. World Asset Management Inc increased its position in shares of DCT Industrial Trust by 3.1% in the first quarter. World Asset Management Inc now owns 5,678 shares of the real estate investment trust’s stock valued at $273,000 after buying an additional 173 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of DCT Industrial Trust during the first quarter valued at about $288,000. Institutional investors and hedge funds own 96.15% of the company’s stock.
About DCT Industrial Trust
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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