Geode Capital Management LLC lifted its stake in shares of DCT Industrial Trust Inc (NYSE:DCT) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 964,646 shares of the real estate investment trust’s stock after purchasing an additional 51,058 shares during the quarter. Geode Capital Management LLC owned about 1.03% of DCT Industrial Trust worth $56,701,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in DCT. Quantbot Technologies LP acquired a new position in DCT Industrial Trust during the third quarter worth $176,000. Campbell & CO Investment Adviser LLC acquired a new position in DCT Industrial Trust during the third quarter worth $234,000. Lourd Capital LLC acquired a new position in DCT Industrial Trust during the fourth quarter worth $298,000. First Citizens Bank & Trust Co. acquired a new position in DCT Industrial Trust during the fourth quarter worth $330,000. Finally, Virtu Financial LLC acquired a new position in DCT Industrial Trust during the fourth quarter worth $333,000. Institutional investors and hedge funds own 96.27% of the company’s stock.
In other news, CFO Matthew T. Murphy sold 18,000 shares of the company’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $57.35, for a total value of $1,032,300.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John V. Pharris sold 3,362 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $55.93, for a total value of $188,036.66. Following the completion of the sale, the insider now owns 4,261 shares in the company, valued at $238,317.73. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
A number of research analysts recently weighed in on the company. BMO Capital Markets reaffirmed a “hold” rating and set a $60.00 price objective on shares of DCT Industrial Trust in a report on Tuesday, January 9th. ValuEngine raised DCT Industrial Trust from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Mizuho reaffirmed a “hold” rating and set a $59.00 price objective on shares of DCT Industrial Trust in a report on Sunday, February 4th. Citigroup dropped their price objective on DCT Industrial Trust from $60.00 to $59.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. Finally, JPMorgan Chase lowered DCT Industrial Trust from a “neutral” rating to an “underweight” rating and set a $58.00 target price on the stock. in a report on Friday, December 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $59.20.
DCT Industrial Trust stock traded down $0.38 during trading hours on Friday, hitting $55.47. The stock had a trading volume of 321,237 shares, compared to its average volume of 474,461. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $5,233.55, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 5.73 and a beta of 0.89. DCT Industrial Trust Inc has a 1-year low of $49.54 and a 1-year high of $61.53.
DCT Industrial Trust (NYSE:DCT) last posted its earnings results on Thursday, February 1st. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.38). The firm had revenue of $108.90 million during the quarter, compared to analyst estimates of $106.66 million. DCT Industrial Trust had a net margin of 24.34% and a return on equity of 5.27%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the company posted $0.59 EPS. sell-side analysts forecast that DCT Industrial Trust Inc will post 2.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 11th. Stockholders of record on Friday, March 30th will be given a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.44 annualized dividend and a dividend yield of 2.60%. DCT Industrial Trust’s dividend payout ratio is currently 58.78%.
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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.
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