DCT Industrial Trust (DCT) Downgraded by Wells Fargo to Market Perform

Wells Fargo downgraded shares of DCT Industrial Trust (NYSE:DCT) from an outperform rating to a market perform rating in a research note issued to investors on Monday, MarketBeat Ratings reports. Wells Fargo currently has $67.00 target price on the real estate investment trust’s stock.

Several other analysts have also recently commented on DCT. BMO Capital Markets restated a hold rating and issued a $60.00 target price on shares of DCT Industrial Trust in a research report on Thursday, February 1st. Mizuho restated a hold rating and issued a $59.00 target price on shares of DCT Industrial Trust in a research report on Sunday, February 4th. 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 report on Friday, February 9th. ValuEngine upgraded DCT Industrial Trust from a hold rating to a buy rating in a research report on Thursday, March 1st. Finally, Zacks Investment Research cut DCT Industrial Trust from a hold rating to a sell rating in a research report on Tuesday, April 17th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $59.91.

DCT opened at $63.90 on Monday. DCT Industrial Trust has a 12 month low of $64.13 and a 12 month high of $65.00. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market capitalization of $6.10 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 6.30 and a beta of 0.86.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 11th. Stockholders of record on Friday, June 29th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Thursday, June 28th. DCT Industrial Trust’s dividend payout ratio (DPR) is presently 58.78%.

In other news, insider John V. Pharris sold 3,362 shares of DCT Industrial Trust stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $55.93, for a total transaction of $188,036.66. Following the transaction, the insider now directly owns 4,261 shares in the company, valued at approximately $238,317.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Matthew T. Murphy sold 18,000 shares of DCT Industrial Trust stock in a transaction 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. 1.50% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc grew its holdings in shares of DCT Industrial Trust by 14.8% in the 1st quarter. Legal & General Group Plc now owns 392,050 shares of the real estate investment trust’s stock worth $22,088,000 after acquiring an additional 50,637 shares during the last quarter. Assetmark Inc. grew its holdings in shares of 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 acquiring an additional 2,079 shares during the last quarter. TLP Group LLC acquired a new position in shares of DCT Industrial Trust in the 1st quarter worth $205,000. Verition Fund Management LLC grew its holdings in shares of DCT Industrial Trust by 99.5% in the 1st quarter. Verition Fund Management LLC now owns 12,914 shares of the real estate investment trust’s stock worth $728,000 after acquiring an additional 6,442 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its holdings in shares of DCT Industrial Trust by 119.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 159,938 shares of the real estate investment trust’s stock worth $9,011,000 after acquiring an additional 86,965 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

About DCT Industrial Trust

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.

Analyst Recommendations for DCT Industrial Trust (NYSE:DCT)

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