PNC Financial Services Group Inc. increased its position in DCT Industrial Trust Inc (NYSE:DCT) by 13.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,780 shares of the real estate investment trust’s stock after buying an additional 333 shares during the period. PNC Financial Services Group Inc.’s holdings in DCT Industrial Trust were worth $133,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in DCT Industrial Trust during the fourth quarter worth about $3,931,000. AQR Capital Management LLC increased its stake in DCT Industrial Trust by 16.7% in the fourth quarter. AQR Capital Management LLC now owns 21,053 shares of the real estate investment trust’s stock worth $1,008,000 after buying an additional 3,010 shares in the last quarter. Norges Bank bought a new stake in DCT Industrial Trust during the fourth quarter worth about $37,886,000. UBS Asset Management Americas Inc. increased its stake in DCT Industrial Trust by 37.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 223,425 shares of the real estate investment trust’s stock worth $10,698,000 after buying an additional 60,717 shares in the last quarter. Finally, Teachers Advisors LLC increased its stake in DCT Industrial Trust by 13.4% in the fourth quarter. Teachers Advisors LLC now owns 129,003 shares of the real estate investment trust’s stock worth $6,177,000 after buying an additional 15,242 shares in the last quarter. 96.72% of the stock is owned by institutional investors.
Shares of DCT Industrial Trust Inc (DCT) opened at 56.44 on Friday. The firm has a 50-day moving average of $54.57 and a 200 day moving average of $50.53. The company has a market capitalization of $5.19 billion, a P/E ratio of 72.17 and a beta of 0.95. DCT Industrial Trust Inc has a 1-year low of $42.96 and a 1-year high of $57.07.
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 Thomson Reuters’ consensus estimate of $0.60. The firm had revenue of $104.50 million during the quarter, compared to analyst estimates of $106.54 million. DCT Industrial Trust had a net margin of 17.68% and a return on equity of 3.67%. The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business earned $0.54 EPS. On average, analysts anticipate that DCT Industrial Trust Inc will post $0.60 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 12th. Stockholders of record on Friday, June 30th were issued a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.24 annualized dividend and a dividend yield of 2.20%. DCT Industrial Trust’s dividend payout ratio (DPR) is presently 158.97%.
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A number of analysts have recently issued reports on DCT shares. Zacks Investment Research downgraded shares of DCT Industrial Trust from a “hold” rating to a “sell” rating in a report on Wednesday, April 12th. Citigroup Inc. reaffirmed a “neutral” rating and set a $52.00 price objective (up from $49.00) on shares of DCT Industrial Trust in a report on Monday, May 15th. Stifel Nicolaus lifted their price objective on shares of DCT Industrial Trust from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, June 14th. Finally, BidaskClub downgraded shares of DCT Industrial Trust from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 21st. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $52.43.
In related news, CFO Matthew T. Murphy sold 7,481 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $52.90, for a total value of $395,744.90. Following the transaction, the chief financial officer now owns 37 shares of the company’s stock, valued at approximately $1,957.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Skomal sold 1,320 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $53.66, for a total transaction of $70,831.20. Following the completion of the transaction, the insider now directly owns 1,167 shares in the company, valued at approximately $62,621.22. The disclosure for this sale can be found here. Insiders sold a total of 28,532 shares of company stock valued at $1,480,552 in the last 90 days. Company insiders own 1.50% 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.
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