Wall Street analysts forecast that DCT Industrial Trust Inc (NYSE:DCT) will announce sales of $105.44 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for DCT Industrial Trust’s earnings. The lowest sales estimate is $104.00 million and the highest is $108.30 million. DCT Industrial Trust posted sales of $100.27 million in the same quarter last year, which suggests a positive year-over-year growth rate of 5.2%. The business is scheduled to issue its next earnings report after the market closes on Thursday, November 2nd.
On average, analysts expect that DCT Industrial Trust will report full year sales of $105.44 million for the current fiscal year, with estimates ranging from $417.80 million to $429.10 million. For the next year, analysts anticipate that the business will report sales of $440.80 million per share, with estimates ranging from $424.29 million to $465.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover DCT Industrial Trust.
DCT Industrial Trust (NYSE:DCT) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.60. The company had revenue of $104.50 million during the quarter, compared to analyst estimates of $106.54 million. DCT Industrial Trust had a net margin of 22.20% and a return on equity of 4.69%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $0.54 EPS.
Several equities research analysts have recently issued reports on DCT shares. Stifel Nicolaus increased their price objective on shares of DCT Industrial Trust from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, June 14th. BidaskClub downgraded shares of DCT Industrial Trust from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 21st. Jefferies Group LLC started coverage on shares of DCT Industrial Trust in a research report on Friday, June 23rd. They set a “hold” rating and a $53.00 price objective for the company. Zacks Investment Research raised shares of DCT Industrial Trust from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Wednesday, July 12th. Finally, UBS AG downgraded shares of DCT Industrial Trust from a “neutral” rating to a “sell” rating and set a $55.00 price objective for the company. in a research report on Friday, September 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. DCT Industrial Trust currently has a consensus rating of “Hold” and a consensus target price of $54.40.
Shares of DCT Industrial Trust (NYSE DCT) opened at 58.80 on Monday. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 58.92 and a beta of 0.95. DCT Industrial Trust has a 52 week low of $42.96 and a 52 week high of $60.02. The firm’s 50 day moving average is $58.38 and its 200-day moving average is $54.15.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Friday, October 6th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, October 5th. DCT Industrial Trust’s dividend payout ratio (DPR) is currently 125.25%.
In related news, Director John C. Okeeffe sold 1,750 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $57.95, for a total value of $101,412.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its position in DCT Industrial Trust by 13.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,780 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 333 shares in the last quarter. Blue Sky Asset Management LLC bought a new position in DCT Industrial Trust in the first quarter valued at $189,000. Oakbrook Investments LLC bought a new position in DCT Industrial Trust in the second quarter valued at $202,000. Oppenheimer Asset Management Inc. bought a new position in DCT Industrial Trust in the first quarter valued at $288,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in DCT Industrial Trust in the second quarter valued at $303,000. 95.42% of the stock is owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for DCT Industrial Trust Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DCT Industrial Trust Inc and related companies with MarketBeat.com's FREE daily email newsletter.