J P Morgan Chase & Co Downgrades DCT Industrial Trust (DCT) to Underweight

DCT Industrial Trust (NYSE:DCT) was downgraded by equities researchers at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a note issued to investors on Friday. They presently have a $58.00 price objective on the real estate investment trust’s stock. J P Morgan Chase & Co’s price target would suggest a potential downside of 2.42% from the company’s current price.

Other analysts have also issued reports about the stock. KeyCorp reaffirmed a “buy” rating on shares of DCT Industrial Trust in a research note on Friday, October 20th. Zacks Investment Research upgraded shares of DCT Industrial Trust from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Tuesday, October 10th. ValuEngine upgraded shares of DCT Industrial Trust from a “hold” rating to a “buy” rating in a report on Friday, November 10th. BidaskClub upgraded shares of DCT Industrial Trust from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Finally, Jefferies Group reiterated a “hold” rating and issued a $59.00 target price on shares of DCT Industrial Trust in a report on Friday, November 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $58.50.

Shares of DCT Industrial Trust (DCT) opened at $59.44 on Friday. DCT Industrial Trust has a one year low of $43.95 and a one year high of $61.53. The firm has a market cap of $5,535.83, a PE ratio of 24.66, a P/E/G ratio of 5.66 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 released its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.61 earnings per share 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 company had revenue of $105.18 million during the quarter, compared to analyst estimates of $105.96 million. During the same period in the prior year, the firm earned $0.60 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. analysts anticipate that DCT Industrial Trust will post 2.44 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board increased its holdings in shares of DCT Industrial Trust by 37.4% during the second quarter. Canada Pension Plan Investment Board now owns 25,000 shares of the real estate investment trust’s stock valued at $1,336,000 after acquiring an additional 6,800 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of DCT Industrial Trust by 10.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 925,447 shares of the real estate investment trust’s stock valued at $49,456,000 after acquiring an additional 86,430 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of DCT Industrial Trust by 1.6% during the second quarter. Arizona State Retirement System now owns 38,800 shares of the real estate investment trust’s stock valued at $2,073,000 after acquiring an additional 600 shares in the last quarter. Dupont Capital Management Corp increased its holdings in shares of DCT Industrial Trust by 77.4% during the second quarter. Dupont Capital Management Corp now owns 17,767 shares of the real estate investment trust’s stock valued at $949,000 after acquiring an additional 7,752 shares in the last quarter. Finally, State of Wisconsin Investment Board increased its holdings in shares of DCT Industrial Trust by 84.5% during the second quarter. State of Wisconsin Investment Board now owns 51,920 shares of the real estate investment trust’s stock valued at $2,775,000 after acquiring an additional 23,784 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

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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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