DCT Industrial Trust (DCT) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of DCT Industrial Trust (NYSE:DCT) from a sell rating to a hold rating in a report published on Thursday.

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. “

Other equities analysts have also recently issued research reports about the company. ValuEngine raised DCT Industrial Trust from a hold rating to a buy rating in a research note on Thursday, March 1st. BMO Capital Markets reaffirmed a hold rating and set a $60.00 target price on shares of DCT Industrial Trust in a research note on Thursday, February 1st. Mizuho reaffirmed a hold rating and set a $59.00 target price on shares of DCT Industrial Trust in a research note on Sunday, February 4th. Wells Fargo cut DCT Industrial Trust from an outperform rating to a market perform rating and set a $67.00 target price on the stock. in a research note on Monday. Finally, Citigroup lowered their target price on DCT Industrial Trust from $60.00 to $59.00 and set a neutral rating on the stock in a research note on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $59.91.

DCT Industrial Trust traded down $0.21, reaching $63.69, during trading on Thursday, according to Marketbeat. The company had a trading volume of 23,797 shares, compared to its average volume of 742,198. The stock has a market capitalization of $6.04 billion, a P/E ratio of 26.08, a P/E/G ratio of 6.21 and a beta of 0.86. DCT Industrial Trust has a 12-month low of $64.13 and a 12-month high of $65.00. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.84.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 11th. Investors of record on Friday, June 29th will be paid a $0.36 dividend. The ex-dividend date is Thursday, June 28th. This represents a $1.44 annualized dividend and a dividend yield of 2.26%. DCT Industrial Trust’s payout ratio is 58.78%.

In related news, insider John V. Pharris sold 3,362 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was 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 of the company’s stock, valued at approximately $238,317.73. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Matthew T. Murphy sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $57.35, for a total value of $1,032,300.00. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS Group AG lifted its holdings in DCT Industrial Trust by 173.4% in the 1st quarter. UBS Group AG now owns 2,026 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 1,285 shares during the last quarter. Assetmark Inc. lifted its holdings in DCT Industrial Trust by 6,114.7% in the 1st quarter. Assetmark Inc. now owns 2,113 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 2,079 shares during the last quarter. Quantbot Technologies LP acquired a new stake in DCT Industrial Trust in the 1st quarter worth approximately $121,000. TLP Group LLC acquired a new stake in DCT Industrial Trust in the 1st quarter worth approximately $205,000. Finally, Vident Investment Advisory LLC acquired a new stake in DCT Industrial Trust in the 4th quarter worth approximately $209,000. 98.45% of the stock is owned by institutional investors and hedge funds.

DCT Industrial Trust Company Profile

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.

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Analyst Recommendations for DCT Industrial Trust (NYSE:DCT)

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