IBM Retirement Fund reduced its stake in shares of DCT Industrial Trust Inc (NYSE:DCT) by 8.6% during the third quarter, Holdings Channel reports. The fund owned 8,309 shares of the company’s stock after selling 785 shares during the period. IBM Retirement Fund’s holdings in DCT Industrial Trust were worth $403,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in DCT. Advisors Asset Management Inc. acquired a new position in shares of DCT Industrial Trust during the second quarter worth approximately $110,000. Daiwa Securities Group Inc. boosted its position in shares of DCT Industrial Trust by 6.5% in the second quarter. Daiwa Securities Group Inc. now owns 3,300 shares of the company’s stock worth $159,000 after buying an additional 200 shares in the last quarter. Oakbrook Investments LLC acquired a new position in shares of DCT Industrial Trust during the second quarter worth approximately $216,000. Quantitative Systematic Strategies LLC acquired a new position in shares of DCT Industrial Trust during the second quarter worth approximately $247,000. Finally, Rehmann Capital Advisory Group boosted its position in shares of DCT Industrial Trust by 0.3% in the second quarter. Rehmann Capital Advisory Group now owns 5,248 shares of the company’s stock worth $252,000 after buying an additional 15 shares in the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.
Shares of DCT Industrial Trust Inc (NYSE:DCT) traded up 0.73% during mid-day trading on Wednesday, hitting $48.44. 430,462 shares of the company were exchanged. The firm has a market capitalization of $4.41 billion, a P/E ratio of 39.13 and a beta of 0.92. The company’s 50-day moving average price is $47.22 and its 200-day moving average price is $47.40. DCT Industrial Trust Inc has a 12-month low of $33.80 and a 12-month high of $50.57.
DCT Industrial Trust (NYSE:DCT) last announced its earnings results on Thursday, November 3rd. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. DCT Industrial Trust had a net margin of 29.42% and a return on equity of 5.88%. The firm had revenue of $100.27 million for the quarter, compared to analyst estimates of $63.71 million. During the same quarter in the prior year, the business posted $0.50 EPS. The business’s revenue was up 13.4% compared to the same quarter last year. Equities research analysts predict that DCT Industrial Trust Inc will post $0.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 5th. Shareholders of record on Friday, December 23rd were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend was Wednesday, December 21st. This is a positive change from DCT Industrial Trust’s previous quarterly dividend of $0.29. DCT Industrial Trust’s dividend payout ratio is presently 99.20%.
DCT has been the subject of a number of analyst reports. Mizuho initiated coverage on shares of DCT Industrial Trust in a research note on Wednesday, September 28th. They set a “neutral” rating and a $51.00 price target for the company. Zacks Investment Research upgraded shares of DCT Industrial Trust from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Thursday, September 29th. Capital One Financial Corporation upgraded shares of DCT Industrial Trust from an “underweight” rating to an “equal weight” rating in a research note on Monday, October 17th. Finally, J P Morgan Chase & Co restated a “buy” rating on shares of DCT Industrial Trust in a research note on Friday, November 11th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $45.00.
In other DCT Industrial Trust news, CFO Matthew T. Murphy sold 16,170 shares of the stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $45.41, for a total transaction of $734,279.70. Following the transaction, the chief financial officer now owns 7,481 shares in the company, valued at approximately $339,712.21. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.
DCT Industrial Trust Company Profile
DCT Industrial Trust Inc (DCT) is an industrial real estate company. The Company is engaged in the acquisition, development, leasing and management of bulk distribution and light industrial properties located in distribution markets in the United States. The Company operates in three segments: East, Central and West.
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