SunTrust Banks, Inc. Reaffirms “Hold” Rating for DCT Industrial Trust Inc (NYSE:DCT)

SunTrust Banks, Inc. restated their hold rating on shares of DCT Industrial Trust Inc (NYSE:DCT) in a research report released on Tuesday, October 24th. The firm currently has a $56.00 target price on the real estate investment trust’s stock.

Several other research firms also 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. Zacks Investment Research raised shares of DCT Industrial Trust from a hold rating to a buy rating and set a $66.00 price objective on the stock in a report on Tuesday, October 10th. UBS AG downgraded shares of DCT Industrial Trust from a neutral rating to a sell rating and set a $55.00 price objective on the stock. in a report on Friday, September 8th. KeyCorp reissued a buy rating on shares of DCT Industrial Trust in a research note on Friday, October 20th. Finally, 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $57.20.

Shares of DCT Industrial Trust (NYSE:DCT) opened at $59.75 on Tuesday. DCT Industrial Trust has a 52 week low of $42.96 and a 52 week high of $60.74. The firm has a market cap of $5,564.70, a price-to-earnings ratio of 24.79, a PEG ratio of 6.02 and a beta of 0.95. The company has a quick ratio of 1.07, a current ratio of 0.87 and a debt-to-equity ratio of 0.84.

DCT Industrial Trust (NYSE:DCT) last announced its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. DCT Industrial Trust had a net margin of 24.39% and a return on equity of 5.16%. The firm had revenue of $105.18 million for the quarter, compared to the consensus estimate of $105.96 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. research analysts forecast that DCT Industrial Trust will post 2.44 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Friday, December 22nd will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, December 21st. This is a boost from DCT Industrial Trust’s previous quarterly dividend of $0.31. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.41%. DCT Industrial Trust’s dividend payout ratio (DPR) is currently 112.73%.

In related news, Director John C. Okeeffe sold 1,750 shares of DCT Industrial Trust stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $57.95, for a total value of $101,412.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in DCT. Oppenheimer Asset Management Inc. lifted its stake in DCT Industrial Trust by 0.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 6,010 shares of the real estate investment trust’s stock worth $321,000 after acquiring an additional 25 shares during the last quarter. World Asset Management Inc lifted its stake in DCT Industrial Trust by 2.5% in the second quarter. World Asset Management Inc now owns 5,822 shares of the real estate investment trust’s stock worth $311,000 after acquiring an additional 144 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in DCT Industrial Trust by 8.8% in the second quarter. PNC Financial Services Group Inc. now owns 3,026 shares of the real estate investment trust’s stock worth $161,000 after acquiring an additional 246 shares during the last quarter. Utah Retirement Systems lifted its stake in DCT Industrial Trust by 1.3% in the second quarter. Utah Retirement Systems now owns 19,760 shares of the real estate investment trust’s stock worth $1,056,000 after acquiring an additional 253 shares during the last quarter. Finally, GAM Holding AG lifted its stake in DCT Industrial Trust by 5.3% in the second quarter. GAM Holding AG now owns 7,968 shares of the real estate investment trust’s stock worth $426,000 after acquiring an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 94.85% 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.

Analyst Recommendations for DCT Industrial Trust (NYSE:DCT)

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