Wall Street analysts expect that DCT Industrial Trust Inc (NYSE:DCT) will post $0.60 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for DCT Industrial Trust’s earnings, with the highest EPS estimate coming in at $0.61 and the lowest estimate coming in at $0.58. DCT Industrial Trust posted earnings per share of $0.54 during the same quarter last year, which indicates a positive year-over-year growth rate of 11.1%. The company is expected to issue its next earnings results after the market closes on Thursday, August 3rd.
On average, analysts expect that DCT Industrial Trust will report full-year earnings of $2.41 per share for the current year, with EPS estimates ranging from $2.37 to $2.43. For the next fiscal year, analysts expect that the firm will post earnings of $2.54 per share, with EPS estimates ranging from $2.52 to $2.57. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover DCT Industrial Trust.
DCT Industrial Trust (NYSE:DCT) last posted its quarterly earnings data on Thursday, May 4th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The business had revenue of $105.90 million during the quarter, compared to the consensus estimate of $103.61 million. DCT Industrial Trust had a return on equity of 3.67% and a net margin of 17.68%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 earnings per share.
Several equities research analysts have weighed in on the company. BidaskClub cut DCT Industrial Trust from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 21st. Zacks Investment Research cut DCT Industrial Trust from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Stifel Nicolaus upped their target price on DCT Industrial Trust from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, June 14th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $52.00 target price (up from $49.00) on shares of DCT Industrial Trust in a report on Monday, May 15th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $52.43.
DCT Industrial Trust (NYSE:DCT) traded down 0.09% during trading on Wednesday, reaching $56.34. The company’s stock had a trading volume of 310,525 shares. The firm’s 50-day moving average price is $54.46 and its 200 day moving average price is $50.36. The company has a market capitalization of $5.18 billion, a P/E ratio of 72.05 and a beta of 0.94. DCT Industrial Trust has a 12-month low of $42.96 and a 12-month high of $56.74.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Stockholders of record on Friday, June 30th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Wednesday, June 28th. DCT Industrial Trust’s payout ratio is 158.97%.
In related news, insider Mark Skomal sold 1,320 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $53.66, for a total transaction of $70,831.20. Following the transaction, the insider now directly owns 1,167 shares of the company’s stock, valued at approximately $62,621.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Philip L. Hawkins sold 19,731 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $51.39, for a total value of $1,013,976.09. Following the transaction, the insider now directly owns 142,167 shares in the company, valued at $7,305,962.13. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,532 shares of company stock valued at $1,480,552. Corporate insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of DCT Industrial Trust by 3.9% in the first quarter. Vanguard Group Inc. now owns 14,369,667 shares of the real estate investment trust’s stock valued at $691,469,000 after buying an additional 535,299 shares in the last quarter. BlackRock Inc. raised its position in shares of DCT Industrial Trust by 2,315.3% in the first quarter. BlackRock Inc. now owns 10,598,157 shares of the real estate investment trust’s stock valued at $509,986,000 after buying an additional 10,159,364 shares in the last quarter. Morgan Stanley raised its position in shares of DCT Industrial Trust by 180.5% in the first quarter. Morgan Stanley now owns 1,516,648 shares of the real estate investment trust’s stock valued at $72,981,000 after buying an additional 975,957 shares in the last quarter. PGGM Investments raised its position in shares of DCT Industrial Trust by 50.9% in the second quarter. PGGM Investments now owns 1,380,000 shares of the real estate investment trust’s stock valued at $73,747,000 after buying an additional 465,333 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of DCT Industrial Trust by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,294,617 shares of the real estate investment trust’s stock valued at $62,295,000 after buying an additional 6,497 shares in the last quarter. 96.72% of the stock is currently owned by institutional investors.
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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