DCT Industrial Trust (NYSE:DCT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
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 analysts also recently weighed in on DCT. BMO Capital Markets restated a “hold” rating and issued a $60.00 price objective on shares of DCT Industrial Trust in a report on Tuesday, January 9th. Citigroup decreased their price objective on DCT Industrial Trust from $60.00 to $59.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Mizuho restated a “hold” rating and issued a $59.00 price objective on shares of DCT Industrial Trust in a report on Sunday, February 4th. Finally, ValuEngine downgraded DCT Industrial Trust from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $59.20.
Shares of DCT opened at $57.64 on Tuesday. The firm has a market cap of $5,261.66, a PE ratio of 23.53, a P/E/G ratio of 5.76 and a beta of 0.89. DCT Industrial Trust has a 12-month low of $49.62 and a 12-month high of $61.53. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.84.
DCT Industrial Trust (NYSE:DCT) last issued its earnings results on Thursday, February 1st. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.38). The company had revenue of $108.90 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 earnings per share. analysts predict that DCT Industrial Trust will post 2.57 EPS for the current year.
In other DCT Industrial Trust news, CFO Matthew T. Murphy sold 18,000 shares of the business’s stock in a transaction dated Friday, March 16th. The shares were 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 Securities & Exchange Commission, which can be accessed through this link. Also, insider John V. Pharris sold 3,362 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $55.93, for a total transaction of $188,036.66. Following the completion of the transaction, the insider now owns 4,261 shares of the company’s stock, valued at $238,317.73. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Vident Investment Advisory LLC bought a new position in DCT Industrial Trust in the fourth quarter worth about $209,000. Lourd Capital LLC bought a new position in DCT Industrial Trust in the fourth quarter worth about $298,000. First Citizens Bank & Trust Co. bought a new position in DCT Industrial Trust in the fourth quarter worth about $330,000. Virtu Financial LLC bought a new position in DCT Industrial Trust in the fourth quarter worth about $333,000. Finally, Picton Mahoney Asset Management raised its holdings in DCT Industrial Trust by 137.5% in the fourth quarter. Picton Mahoney Asset Management now owns 6,000 shares of the real estate investment trust’s stock worth $353,000 after purchasing an additional 22,000 shares in the last quarter. 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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