Zacks Investment Research cut shares of DCT Industrial Trust (NYSE:DCT) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.
According to Zacks, “DCT Industrial is a leading real estate company specializing in the ownership, development, acquisition, leasing and management of bulk-distribution and light-industrial properties in high-demand distribution markets in the United States. DCT’s actively-managed portfolio is strategically located near population centers and well-positioned to take advantage of market dynamics. DCT maintains a Baa2 rating from Moody’s Investors Service and a BBB from Standard & Poor’s Rating Services. “
Several other brokerages have also issued reports on DCT. BMO Capital Markets reaffirmed a hold rating and set a $60.00 price target on shares of DCT Industrial Trust in a report on Thursday, February 1st. Mizuho reaffirmed a hold rating and set a $59.00 price target on shares of DCT Industrial Trust in a report on Sunday, February 4th. ValuEngine lowered shares of DCT Industrial Trust from a buy rating to a hold rating in a report on Wednesday, March 7th. Finally, Citigroup decreased their price target on shares of DCT Industrial Trust from $60.00 to $59.00 and set a neutral rating on the stock in a report on Friday, February 9th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $59.20.
DCT stock opened at $57.45 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.70. DCT Industrial Trust has a 12 month low of $49.62 and a 12 month high of $61.53. The stock has a market capitalization of $5,261.66, a price-to-earnings ratio of 22.92, a PEG ratio of 5.76 and a beta of 0.89.
DCT Industrial Trust (NYSE:DCT) last announced its quarterly earnings results on Thursday, February 1st. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.38). The company had revenue of $108.90 million for the quarter, compared to the consensus estimate of $106.66 million. DCT Industrial Trust had a net margin of 24.34% and a return on equity of 5.27%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. equities research analysts forecast that DCT Industrial Trust will post 2.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 11th. Investors of record on Friday, March 30th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $1.44 annualized dividend and a yield of 2.51%. DCT Industrial Trust’s dividend payout ratio is presently 58.78%.
In related news, insider John V. Pharris sold 3,362 shares of DCT Industrial Trust stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $55.93, for a total transaction of $188,036.66. Following the sale, the insider now directly owns 4,261 shares in the company, valued at approximately $238,317.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Matthew T. Murphy sold 18,000 shares of DCT Industrial Trust stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $57.35, for a total transaction of $1,032,300.00. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Sumitomo Mitsui Asset Management Company LTD boosted its position in DCT Industrial Trust by 8.4% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 11,311 shares of the real estate investment trust’s stock worth $664,000 after buying an additional 876 shares during the period. Security Capital Research & Management Inc. boosted its position in DCT Industrial Trust by 2.2% during the 4th quarter. Security Capital Research & Management Inc. now owns 46,555 shares of the real estate investment trust’s stock worth $2,737,000 after buying an additional 1,024 shares during the period. Meadow Creek Investment Management LLC boosted its position in DCT Industrial Trust by 19.6% during the 4th quarter. Meadow Creek Investment Management LLC now owns 6,544 shares of the real estate investment trust’s stock worth $385,000 after buying an additional 1,072 shares during the period. Amalgamated Bank boosted its position in DCT Industrial Trust by 7.3% during the 4th quarter. Amalgamated Bank now owns 18,856 shares of the real estate investment trust’s stock worth $1,108,000 after buying an additional 1,282 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in DCT Industrial Trust by 24.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,775 shares of the real estate investment trust’s stock worth $457,000 after buying an additional 1,506 shares during the period. Institutional investors and hedge funds own 96.25% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This article was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international copyright law. The legal version of this article can be read at https://www.dispatchtribunal.com/2018/04/18/dct-industrial-trust-dct-cut-to-sell-at-zacks-investment-research.html.
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.
Get a free copy of the Zacks research report on DCT Industrial Trust (DCT)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for DCT Industrial Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DCT Industrial Trust and related companies with MarketBeat.com's FREE daily email newsletter.