DCT Industrial Trust (DCT) Cut to “Sell” at Zacks Investment Research

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. “

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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.

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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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